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

Father’s Day Gift Guide

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Tom Sellers

MSI P65

This smart laptop was enjoyable to use and great to work on – creating content was super simple.

Lolita Wang

MSI GT76

It really doesn’t get more “gaming laptop” than this.

Jack Jeffries

MSI GS75

As the Maserati or BMW of laptops, it would fit perfectly in the hands of a professional needing firepower under the hood, sophistication and class on the surface, and gaming prowess (sports mode if you will) in between.

Taylor Carr

MSI PS63

The MSI PS63 is an amazing laptop and I would definitely consider buying one in the future.

Christopher Low

Brother RJ-4230B

This small mobile printer is exactly what I need for invoicing and other jobs such as sending fellow tradesman details or step-by-step instructions that I can easily print off from my phone or the Web.

Aysha Strobbe

Microsoft Office 365/HP Spectre x360

Microsoft Office continues to make a student’s life that little bit easier by offering reliable, easy to use, time-saving functionality, while continuing to develop new features that further enhance what is already a formidable collection of applications

Featured Content

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?