Prize Payments has launched with intentions of streamlining the esports prize payment process, reducing time and costs for publishers and tournament organisers.
The company describes itself as an “end-to-end solution” that helps with organising the payment process, eradicating issues surrounding currencies, regulatory requirements, and delayed payments.
Prize Payments has an automated payment system that includes a turn-key platform which allows organisers to track transactions and for players to receive payments, a form collection process, a global payments system, and is GDPR compliant. It can handle 115 currencies across 180 countries.
Han Park, CEO of Prize Payments commented: “Making prize payments across multiple territories is hugely complex and time-consuming. With the increasing success of competitive esports, publishers and tournaments organisers (TO’s) are seeing their costs rise. Prize Payments streamlines the whole process, reduces cost, and helps to speed the process up for winning players. We want to help publishers and organisers to be more efficient by removing their hands-on time expediting the payments, we believe this is a genuine win-win for both publishers and players.”
Prize Payments was founded by Han Park, former President of ESL, Spike Laurie, former Vice President, Global Publisher and Developer Relations at ESL, and Everett Coleman, Owner of Str8 Rippin and former Project Analyst at ESL.
Esports Insider says: There’s undoubtedly a lot of problems surrounding prize payments in esports with a plethora of titles all suffering from issues at one time or another. The team behind this company is vastly experienced in esports and that fills us with a healthy amount of confidence in the product.