ENTROPIA UNIVERSE ENTERS CHINA WITH PAYNOVA
MindArk PE AB who develop and operate Entropia Universe, the fastest growing virtual online world with real cash economy, have signed an agreement with Paynova for integrating the Paynova 2.0 web payment solution into the Universe, incorporating all major Chinese debit and credit cards. The agreement opens the vast Chinese market for all Paynova merchants, and connects 123 million Chinese internet users with the Entropia Universe, which had a 2005 GNP (real cash value of traded virtual items) of 165 MUSD. The services will be available in the first quarter of 2007.
Chinese internet usage so far has increased by 20 percent from the 2005 levels, and China now has the world’s second largest internet user community after the US. No less than 77 million Chinese now have broadband access, according to government statistics from the CNNIC. Growing with 133 000 new users 2005, Entropia Universe is a Massively Multiplayer Online Game (MMOG) that offers a popular online science-fiction world adventure. In the Entropia Universe, the currency is PED, with ten PED being equivalent to one US dollar. Users can freely enter and withdraw money from the universe through their existing bank accounts.
Domestic online games are enjoying an enormous growth in Asia, with sales reaching 300 MUSD and an annual 50 percent growth expected over the following five years, according to IDC. Interactive online entertainment such as Entropia Universe has an ever broader audience, attracting both old and young.
“This is a major step for us, bringing the world’s fastest growing online entertainment world to the world’s fastest growing audience. Many Chinese actors have signaled their interest to include Entropia Universe as a part of their online offering and we feel very lucky to be the first foreign online entertainment community to enter China. A simple and safe payment solution is an absolute necessity, and we are glad to be able to rely on a trusted partner of ours, Paynova, for this,” says Jan Welter Timkrans, CEO of MindArk.
Offering a safe and simple way of paying over the web, Paynova is an old partner of MindArk and the current agreement is an extension of a three year operating relationship. With eighteen payment options in ten languages with eight currencies, Paynova now enters the world’s most dynamic market:
”The Chinese online gaming market covers close to half of the world’s entire online gaming community and no provider can ignore it. As Paynova 2.0 works with 34 Chinese payment cards, we can now offer Paynova merchants and users a fast access to the Chinese market, whether this is for gaming, e-commerce or other purposes. Arriving with the world’s fastest growing virtual world, Paynova has every chance of a rapid expansion here,” says Karl Alberts, Director of Marketing and Sales at Paynova.
For additional information please contact:
Jan Welter Timkrans, CEO, MindArk PE AB
Direct +46 (0)31 607 260
E-mail: jan.welter@MindArk.com
Karl Alberts, Marketing Director, Paynova
Mobil: +46 (0)703 35 53 26
Direct: +46 (0)8 517 100 21
E-mail: karl.alberts@paynova.com
About MindArk
MindArk PE AB (publ), a Swedish-based software company, develops and run ENTROPIA UNIVERSE, an internet-based virtual universe for interactive entertainment and trade with an integrated real-cash economy. www.mindark.com
About Paynova AB
Paynova offers an international, account-based payment service via the Internet. With Paynova E-retailers receive a payment guarantee with the support for eighteen payment options in 10 languages with 8 currencies in a security-certified interface (PCI). Consumers can open an E-account, a Paynova wallet, for free over the Internet to make purchases more secure and simple, as well as making transfers between family members, friends and acquaintances. For more information: www.paynova.com