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TrueLayer launches Payouts, a new way for operators to issue instant refunds and withdrawals

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TrueLayer raises $130m to accelerate the adoption of open banking payments globally
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TrueLayer, Europe’s leading open banking platform, today announced the launch of Payouts, a new solution to tackle the issues of slow withdrawals and refunds. Payouts is already being used by TrueLayer clients, including the UK’s leading online car retailer, Cazoo, to instantly pay customers when they sell their car via the platform.

Today, customers expect payments that arrive in their account in seconds. The five days it can take for card or Bacs payments to appear frustrates customers and leads to a lack of loyalty. This is made worse when operators, as part of their due diligence, need to verify new user’s payment details and identity before issuing a payout, stopping customers mid-flow and making the process even slower.

Traditional payout methods require managing multiple reports, endless rows of data, and manually tracking each payment, creating inefficiencies, input errors and complaints from customers whose payouts were never issued.

TrueLayer has tackled the issue of fragmented and slow payout processes by combining open banking verification and the fastest payment rails available to ensure players are paid to the right account, right away. The open banking-powered verification process works by matching the name provided by the customer with what’s on file at their bank to confirm the details are correct. Results are returned in seconds. Gone are the days of asking customers to upload bank statements for compliance teams to review, or using micro-deposits that can be cumbersome for users to confirm.

With the player’s details pre-populated and verified, payouts are then automatically issued through TrueLayer’s robust infrastructure, connected to thousands of banks in the UK and across the EU through a simple API integration.

“Businesses today are laser-focused on customer experience, and the post-purchase experience involving customers requesting refunds or users withdrawing their funds, is critical to build loyalty. We built Payouts to take the pain out of these transactions and enable operators to create a compelling value proposition for their entire customer base – withdraw your funds or receive refunds instantly,” commented Murtaza Bootwala, Head of Payments at TrueLayer. “It is designed with iGaming in mind, where customers are growing increasingly frustrated by the poor experiences they have to endure as a result of outdated infrastructure. In 2021 it shouldn’t take days, sometimes over a week, to receive a payment.”

TrueLayer is the only provider that can deliver account verification, powered by open banking, with Payouts to deliver payments for operators that:

  • Increase retention and encourage service-switching: granting instant access to funds that settle in seconds, 24/7, without having to go through lengthy verification processes, players get what they want – their money instantly – compared to five days that cards or Bacs can take.

  • Eliminate the cost of lost or failed payouts: using bank-verified account information to automate payment setup.

  • Remove manual tracking processes: initiating multiple payouts via a single API, removing errors from the whole equation.

  • Streamline due diligence: using open banking verification, TrueLayer crosschecks the name provided by the end-user during registration with what’s on file at their bank to confirm that the details entered are correct. This helps businesses to minimise money laundering risk.

  • Improve the customer experience: no don’t need to remember account details, or manually fill any forms. With a simple redirect to their bank they can authenticate their account details using fingerprint or Face ID.

“TrueLayer is leading the charge to ensure payments processes that truly work for the customer and the business, ditching outdated methods to deliver the best possible payments experience,” added Bootwala. “By verifying the account details before paying out, you can say goodbye to the days of failed or lost payments, and reduce the strain on customer support. And by offering instant payouts, iGaming operators can build players’ trust and encourage others to switch over to your service.”

The launch of Payouts continues the expansion of TrueLayer’s solutions built on top of its market-leading open banking network in 2021, following the launch of PayDirect in January.

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Galaxy Racer appoints new Head of Marketing, India & South Asia

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Galaxy Racer appoints new Head of Marketing, India & South Asia
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Former Garena Esports Project Manager for India, Romeo Misao, joins Galaxy Racer to head up the organisation’s rapid expansion plans for the region

Galaxy Racer (GXR), one of the fastest-growing esports, gaming and lifestyle organizations in the world, headquartered in Dubai, has announced the appointment of Romeo Misao as the Head of Marketing for India and South Asia. The announcement follows the organisation’s spate of new hires globally and the recent signing of Galaxy Racer’s Chief Marketing Officer, Allan Phang. 

Misao will lead the best-in-class regional marketing initiatives for both Galaxy Racer and Nigma Galaxy, the competitive esports division of Galaxy Racer, focusing on the company’s aggressive expansion plans across India and the South Asia region.

Misao was previously the first esports hire in India for Free Fire, the award-winning mobile Battle Royale game by the leading game’s publisher, Garena. He led and executed esports initiatives for Free Fire in India and Bangladesh as their Esports Project Manager. 

He spearheaded and launched the leading premium esports IPs in India that went on to be record-breaking such as the Free Fire India Championship Fall 2020 with 300,000 concurrent viewership and the Free Fire World Series, Singapore 2021 with 1.9 million concurrent viewership on local Hindi language streams.

Misao has also worked for award-winning brand BenQ-Zowie, where he drove gaming and esports projects and contributed to the success of the brand’s ranking as the No. 1 Gaming Monitor. He led all Marketing and Communications for US leading display brand, ViewSonic in India and contributed to the growth of the brand in the major display product line with a Top 3 ranking in India. This positioned the brand among the top display segments which led to major collaborative promotional projects with leading games publishers such as Tencent.

Galaxy Racer was founded in 2019 and currently has over 100 content creators across Middle East North Africa (MENA) and Southeast Asia (SEA), amassing over 370 million followers and generating over 2 billion monthly views.

Nigma Galaxy, the merger between Team Nigma,  champions of The International 7 Dota 2, and Galaxy Racer, will be leading the competitive esports team division, with an impressive roster of twelve esports teams in Dota 2, League of Legends, CS:GO, Fortnite, PUBG Mobile, BGMI and Free Fire, with over 60 male and female esports athletes from over 20 countries.

Allan Phang, Chief Marketing Officer of Galaxy Racer commented, “Romeo’s vast marketing experience and deep knowledge of the Indian esports industry is vital as part of our strategic initiatives for India. His work is exceptional and I am looking forward to working together with him. As Galaxy Racer pushes forward with our aggressive expansion plans, having a leader of his calibre is important to spearhead our marketing campaigns. We look forward to having Romeo onboard with us. Welcome to our galaxy!”

Romeo Misao, Head of Marketing, India and South Asia of Galaxy Racer commented, “I am excited to be working at Galaxy Racer, one of the fastest-growing esports, gaming and lifestyle organisations globally. I look forward to working with Allan and my fellow colleagues as we look to partner with brands who are interested in targeting Gen Z and Millennials. I cannot wait to unleash the awesome marketing initiatives I have in store for the Indian market and to put Galaxy Racer, Nigma Galaxy and India on the world map in the global esports industry.”

Galaxy Racer is creating a true 360-degree esports, gaming, content and lifestyle brand. Their group company, Riva Technology and Entertainment (RTE), have secured a strong streak of acquisitions, partnerships and brand licensing deals, including the iconic comic book series publisher Dark Horse Comics, with RTE producing multiple mobile games based on the massively successful The Umbrella Academy comic books and Netflix series.

Earlier this year, RTE invested in multiple companies including SUB2r who produce broadcast-quality streaming video cameras, Recast an over-the-top (OTT) platform, My LADS, an Augmented Reality (AR) technology engagement firm which powers fan engagement, the leading games publisher Rogue Games and OKLetsPlay, the leading platform for players to compete each other in competitions against other players across the world. 

RTE also owns a majority stake in global games producer Firefly Games, who have experience working with major studios and brands for world-renowned intellectual properties (IP) from Dreamworks Animation, NBC Universal, Skydance Media, and now MGA Entertainment, a consumer entertainment products company, to produce and publish mobile games based on their hit properties L.O.L Surprise!™ and Rainbow High, both featured on Netflix.

Galaxy Racer has recently brought onboard former Disney executive Guenther Hake, Senior Vice President and General Manager of Disney Consumer Products in Greater China and CEO at Oriental DreamWorks, who will be assisting in an advisory role with Galaxy Racer’s brand partnerships, consumer products, apparel and merchandising endeavours. 

Galaxy Racer has also recruited Danny Lopez as Chief Content Officer, who was formerly the Director of Brand and Content at Guild Esports, an esports team co-owned by David Beckham, where he led the creative content development and execution across the board.

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DANSKE SPIL EXECUTIVE ULRIK BORGEN JOINS SHAPE GAMES MANAGEMENT AS COMPANY BUILDS TEAM OF INDUSTRY EXPERTS

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DANSKE SPIL EXECUTIVE ULRIK BORGEN JOINS SHAPE GAMES MANAGEMENT AS COMPANY BUILDS TEAM OF INDUSTRY EXPERTS
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Borgen brings twenty years of mobile product management and regulatory expertise

Ulrik Borgen, has joined Shape Games as Director of Account Management, bringing nearly 10 years of online gaming and regulatory experience to the executive team as Shape Games continues its expansion plans across the United States online gaming market and beyond, the company announced today.

Borgen is the former PMO Director of Danske Spil and led the transition of the state-run online gaming company as the Danish market opened to private competition in 2012. Danske Spil has maintained its market leadership in the face of competition from the major global online gaming companies. Borgen leveraged his decade at Nokia where he led mobile product development.

“Ulrik is a mobile product innovator who knows how to beat the competition by delivering what consumers want, even before they know they want it”, said Risom. “His expertise in being a public sector operator and developing industry-leading products within complex regulatory environments complements our deep bench of commercial gaming expertise.”

Borgen said: “Shape Games has a strong track record in the successful combination of innovative, seamless and customer focused user experience with the attention to compliance to give users peace of mind and security. I’m happy to be part of the exciting next phase of the company’s growth and bring my knowledge of helping companies navigate regulatory requirements to maximise their growth and user experiences.”

Shape is a leading consumer app developer for major global brands and recently created Shape Games to address the specific needs of the online gambling industry. Co-founders CEO Christian Risom, CIO Ole Gammelgaard, CDO Nicolas Linde and CTO Philip Bruce have created consumer apps for leading global brands including Apple, ebay, IKEA and Red Bull. Shape also has a long history with Danske Spil, Denmark’s state-run gambling operator of Oddset, the leading Danish online sportsbook and with whom the company has won several industry awards for innovation.

 

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Microgravity announces winners of MGL Call of Duty: Mobile tournament

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Microgravity announces winners of MGL Call of Duty: Mobile tournament
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Microgravity Ventures Private Limited, a facilitator of world-class gaming hubs and eSports tournaments in India, announced the winners of Microgravity Gaming League – MGL Call of Duty: Mobile, Team Deathmatch tournament. The two-day eSports tournament was held on 25 & 26 September in partnership with Battlefy. Top Call of Duty Squads from across the country competed against each other in a single eliminator format-based tournament in 5v5 multiplayer mode. All the participants were above 18 years of age and included professionals, enthusiasts and casual gamers.

The mightiest Call of Duty squads had to go through three phases – Qualifier Phase, Battle Phase and Zero Hour Phase. All the qualified squads competed against each other across multiple rounds in the Battle Phase. This phase was held in a single eliminator format-based tournament in 5v5 multiplayer mode. The top 8 squads were shortlisted for the quarter finals, semifinals and finals under the Zero Hour Phase and competed in a best of 3 format. The top 2 squads – True Rippers Esports & Team SUPREMACY battled against each other in the grand finale with True Rippers Esports coming out on top to conquer the Microgravity Gaming League (Freedom Month Special) – Call of Duty: Mobile tournament. The eSport tournament also witnessed some exceptional women gamers who were named #GamerGoddesses for their mind-blowing gaming skills.

Speaking on the occasion, Mr. Rahul Bhattacharya, Co-Founder and MD, Microgravity said “It was great to see squads from across the country participating and showing their best gamer skills in MGL Call of Duty: Mobile Tournament. The momentum and the quality of content backed with human interaction has taken this tournament to next level. We saw some intense competitions and some fantastic gameplays in all three Phases. We would like to congratulate True Ripper Esports, who conquered this league and all the other participants, including our GamerGoddesses who pushed their boundaries with great enthusiasm. India has some extraordinary talent and we are looking to continue hosting more such tournaments. We aim to enable gamers to become leaders in the gaming space while taking online gaming to a new high.”

Microgravity gave an overall prize pool of over Rs. 1,00,000 to the winners. The tournament winners, True Rippers Esports won Rs. 35,000 for their top-notch performance and for rising as the conquers of the tournament. The 1st runner up Team SUPREMACY and 2nd runner-up Bounty Hunterz won Rs. 25,000 and Rs. 15,000 respectively. ChieZze from True Rippers with 68 kills was the Top Fragger and took home a prize of Rs. 5,000. Oggy from Team SUPREMACY with 21 assists won Rs. 5,000 for the Most Assisted Kills. The #GamerGoddesses crown was given to DhruviOO7 and SnippetSnipe, who were the top-ranked women gamers and split the winning prize of Rs. 20,000. Additionally, 5 lucky viewers won a prize voucher of Rs.1,000 each for answering questions during the live feed and for showing their unconditional support.

On winning the Call of Duty: Mobile Tournament, Real Nimrod of True Rippers Esports added “I am really proud of my team who outperformed today and it was an amazing experience competing against several competitive squads across the country. This tournament is a great encouragement for the Indian gaming community and we feel honoured to be a part of it. We are very grateful to Microgravity for providing this opportunity to budding gamers and motivating them to do better.”

Microgravity has successfully organized three online gaming tournaments previously across PC, Mobile and Play Station which gained significant traction amongst online gamers. In May 2021, the MGL FIFA 2021 tournament was held which drew significant engagement from FIFA wizards with 3,000 registrations and 4 million impressions from across the country. MGL Free Fire was held during August and September 2020 with over 2.2 million impressions and over 20 thousand participants. Similarly, MGL Call of Duty: Mobile was organized in December 2020 and reported over 8 lakh impressions.

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