Experienced esports veterans have launched Prize Payments, a new Service that reduces costs and streamlines payments in $300+ million prize esports industry.
Prize Payments brings a streamlined, efficient and economical solution to esports prize payment process and reduces time and costs for publishers and tournament organisers. Prize Payments is an ideal end-to-end solution for organising the payment process to navigate issues including multiple currencies, complex regulatory requirements, increasing costs and delayed payments to players.
Prize Payments reduces the time and money needed to complete the payment process and can handle 115 currencies across 180 countries whilst ensuring each payment is compliant with taxation and GDPR requirements in each country.
“Making prize payments across multiple territories is hugely complex and time-consuming. With the increasing success of competitive esports, publishers and tournaments organizers (TO’s) are seeing their challenges and 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,” Han Park, CEO of Prize Payments said.
The team behind Prize Payments includes Han Park, a 20 year veteran in gaming and esports, latterly serving as ESL’s US President, Spike Laurie, 7 year esports veteran, who built ESL’s UK and Brazilian business divisions, and Everett Coleman, 11 year esports veteran, who ran league operations at ESL US, as well as owning esports team Str8 Rippin.
By Niji Narayan
Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.