A Derby company which has developed a new payment system for the games industry has secured a further £200,000 investment from the MEIF Proof of Concept & Early Stage Fund, managed by Mercia and part of the D2N2-backed Midlands Engine Investment Fund (MEIF).
Transaction Technologies’ new platform will target the multi-billion-dollar market for in-game downloads.
PlayerLands, as it is known, allows players to buy virtual goods within games and is one of the few systems that will accept payments in real money rather than cryptocurrencies.
The platform provides a secure payment system that makes it easy to buy and sell virtual products online and for developers to set up their own stores, market their goods and manage their businesses.
The latest funding round will allow the firm to finalise and launch its platform, while creating four new jobs in Derby for developers and customer service staff.