PLAYSPAN Acquires PayByCash®

Mumbai, Maharashtra, India

Silicon Valley based PLAYSPAN Inc. (www.playspan.com) has acquired PayByCash (www.paybycash.com) the leading alternative payment system for online games, virtual worlds and social networks. Together PlaySpan and PayByCash creates one of the fastest growing commerce and payment services companies supporting game publishers' need for a complete commerce and payments platform in the rapidly growing market of online games and interactive entertainment.

PayByCash is one of the most trusted payment brands for top-tier game publishers and millions of gamers worldwide. As a payment gateway, PayByCash provides the broadest network of 70 different payment methods, supporting over 200 countries. The Ultimate Game Card™, PayByCash's pre-paid card, can be used for all of its merchant clients and is fast becoming the most popular payment method among hard-to-reach gaming demographics.

"PayByCash's 10 year reputation in the global game industry, operational experience of millions of transactions each year and the trust of millions of gamers is a great addition to our in-game marketplace platform", said Karl Mehta, Founder & CEO of PlaySpan. "We are excited about the synergies of our businesses and will continue to promote PayByCash's global payment platform to our publisher partners worldwide".

"PlaySpan and PayByCash have complementary missions. PayByCash handles payments from consumers across the globe, and PlaySpan gives publishers a place for gamers to spend it." said Kevin Higgins, president of PayByCash. "We believe that our publisher partners will continue to benefit from our strong operational and global expertise to drive their micro-transaction revenues."

PayByCash will continue to operate as an independent brand as a leading online payments solution with offices in Charlottesville, Virginia and Cincinnati, Ohio. Demand for their Ultimate Game card continues to escalate, with more and more major retailers stocking the card in the US and Canada, and requests beginning to grow from other parts of the world. Finally, in August, PayByCash's release of PaxGuard™ will herald exciting innovation in fraud protection.

"The shift from boxed games on retail shelves to in-game micro-transactions as the preferred method of monetization is just starting," said Shawn Carolan, Managing Director at Menlo Ventures. "So to see the two leaders come together and combine their already significant customer and revenue momentum is an investor's dream come true."

About PLAYSPAN

PlaySpan™ is the game industry's first publisher-sponsored™ in-game commerce™ network. PlaySpan's patent-pending in-game search, commerce and micropayment technologies enable game publishers and developers to generate new revenues, acquire new users and extend the loyalty of existing users. Leading game providers and virtual world publishers have selected PlaySpan as their official marketplace for virtual goods commerce.

PlaySpan is based in Silicon Valley with offices in Mumbai and Shanghai. Investors include Easton Capital, Menlo Ventures, STIC and Novel TMT Ventures.

About PayByCash®

PayByCash has been empowering non-credit card customers and the Internet businesses that want to reach them since 1998. PayByCash serves merchants who understand the importance of allowing any customer anywhere in the world to use the payment method they prefer, in their own currency, to buy goods and services online.

As a full service payment processor, PayByCash handles all the payment-related customer support, foreign exchange complexity and risk, fraud protection, and maintenance of a constantly growing number of payment system integrations, while providing simplified reporting and accounting to their merchant clients. They have become the easiest and most cost-effective way to receive payments from around the world.

Source: PlaySpan India Pvt Ltd (Business Wire India)

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