How Codashop spurs gamers to make more in-game purchases
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Coda Payments recently raised $690 million in funding to enable cross-border payments for games and other digital products, as well as alternative app stores.
That secondary funding showed investors still have confidence in Coda Payments and its Codashop division. The latter bills itself as a trusted source of in-game currencies and other premium content for millions of consumers in more than 50 territories worldwide. And it says it is the only independent content marketplace with a global footprint.
Neil Davidson, executive chairman and cofounder of Coda Payments, spoke with me about the opportunity in our fireside chat at the online part of our GamesBeat Summit 2022 event.
Through Codashop, developers and publishers make it easier for their customers to access the content they love by allowing them to choose from more than 300 convenient payment methods. Coda also operates Codapay, which publishers use to accept the same range of payment methods available on Codashop on their own websites, and Codacash, a closed-loop e-wallet that offers loyalty rewards to customers. Coda Payments started over 10 years ago. Codashop’s first market was Indonesia. Now it operates in about 50 markets, starting in Southeast Asia and expanding into place like South Asia, the Middle East, Latin America, and since September, Europe. Many of the markets where it operates are emerging markets.
“What was happening at that time was hundreds of millions of people around the world were coming online for the first time through the proliferation of smartphones,” Davidson said. “And we foresaw that a large number of these users were going
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