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PlaySpan acquires PlayByCash

By Mark Androvich

Wed 16 Jul 2008 10:05pm GMT / 6:05pm EDT / 3:05pm PDT

PlayByCash to continue operating independently as companies combine their online payment services

Online commerce and payment service company PlaySpan, based in Silicon Valley, has acquired PayByCash.

"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 make the service a great addition to our in-game marketplace platform," said Karl Mehta, Founder and 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."

PayByCash provides a network of 70 different payment methods - including pre-paid cards - supported in over 200 countries.

"PlaySpan and PayByCash have complementary missions," said PayByCash president Kevin Higgins. "PayByCash handles payments from consumers across the globe, and PlaySpan gives publishers a place for gamers to spend."

"We believe that our publisher partners will continue to benefit from our strong operational and global expertise to drive their microtransaction revenues."

PayByCash will continue to operate independently with offices in Charlottesville, Virginia and Cincinnati, Ohio. The company plans to release PaxGuard - a fraud protection service - in August.

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