Another partnership for hi5 means more virtual goods capabilities for the social network. PlaySpan has teamed up with hi5 for the launching of Micropayments, which can be used for virtual goods and premium content available on the hi5 network. The partnership with PlaySpan comes weeks after hi5’s partnership with Mochi Media, which expanded its game catalog.
With this partnership, PlaySpan will offer two of its global payment services to all of hi5’s users. The two payment options include PayByCash and Ultimate Game Card, which extend an array of payment options users can have to purchase premium content.
What the PlaySpan partnership does is broaden the ways in which hi5 users can participate in the growing virtual goods marketplace. As virtual goods have become central to hi5’s growth strategy this year, it’s increasingly important for the network to be able to extend several different payment options to users, beyond the credit card. Doing so expands hi5’s ability to earn revenue, while cultivating its virtual goods platform for itself, its users and its developer community.
As PlaySpan already has a global presence, hi5’s partnership with this micropayments service also means that it’s providing payment options to all of its users, regardless of their geographic location. PlaySpan’s payment options are available in a reported 180 countries, with a total of 80 different payment methods around the world.
And PlaySpan has been growing its own network approach, having become a payment option for a reported 1,000 gaming and social networks worldwide. Having found its niche as a ready-made payment option for site and game publishers, PlaySpan is likely looking to unify its service for users across the board.
Taking advantage of larger sites such as hi5 for instituting its payment services is a huge step for a company like PlaySpan, especially as the virtual goods trend continues to sweep the social networks. Other companies such as Super Rewards are offering similar payment options to developers on platforms such as Facebook’s, though PlaySpan is partnering directly with the platform provider in its deal with hi5. Creating heavily integrated options for payment of premium features is another opportunity for growth, as it will become a necessity in the future of socially oriented virtual goods economies across gaming and social networks.