Zynga trials Bitcoin payments for in-game purchases

Players using the company's main portal can use bitcoin for seven games

Game developer Zynga is testing bitcoin for in-application purchases of virtual goods, becoming one of a growing number of online businesses accepting the virtual currency.

The bitcoin option is open to those playing seven games through the company's main portal, Zynga.com, which include FarmVille 2, CastleVille, ChefVille, CoasterVille, Hidden Chronicles, Hidden Shadows and CityVille, according to a company post on Reddit.

A purely digital currency, a bitcoin is essentially a secret number that is transferred from one party to another on a peer-to-peer software network using public key cryptography.

Regulators around the world are mulling how bitcoin fits into existing financial regulations. None have banned it, although some countries, such as China, have made it more difficult to move funds into exchanges that sell bitcoins. Traditional banks have so far steered clear of it.

Bitcoin poses competition to online payment services such as PayPal, which collects fees from vendors selling goods. Bitcoin has much lower transfer fees, although businesses usually want to quickly exchange their bitcoins for government-issued money because of its volatile exchange rate. That exchange does incur a fee, but bitcoin payment processors aim to undercut PayPal.

The price of a bitcoin ticked up over US$1,000 on Monday on Mt. Gox, a Japan-based bitcoin exchange.

Zynga is using BitPay, an Atlanta-based company, as its payment processor. BitPay offers a guaranteed exchange rate and regular direct deposits to merchants in 33 countries.

Online sites such as Reddit and WordPress accept bitcoins, but online giants Amazon.com and eBay -- which owns PayPal -- do not yet.

Send news tips and comments to jeremy_kirk@idg.com. Follow me on Twitter: @jeremy_kirk

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags internete-commercegamesZyngaInternet-based applications and servicesBitPay

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Jeremy Kirk

IDG News Service
Show Comments

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Maryellen Rose George

Brother PT-P750W

It’s useful for office tasks as well as pragmatic labelling of equipment and storage – just don’t get too excited and label everything in sight!

Cathy Giles

Brother MFC-L8900CDW

The Brother MFC-L8900CDW is an absolute stand out. I struggle to fault it.

Luke Hill

MSI GT75 TITAN

I need power and lots of it. As a Front End Web developer anything less just won’t cut it which is why the MSI GT75 is an outstanding laptop for me. It’s a sleek and futuristic looking, high quality, beast that has a touch of sci-fi flare about it.

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Laura Johnston

MSI GS65 Stealth Thin

If you can afford the price tag, it is well worth the money. It out performs any other laptop I have tried for gaming, and the transportable design and incredible display also make it ideal for work.

Andrew Teoh

Brother MFC-L9570CDW Multifunction Printer

Touch screen visibility and operation was great and easy to navigate. Each menu and sub-menu was in an understandable order and category

Featured Content

Product Launch Showcase

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?