Client case of launch international game company from scratch in 2024
Providing turnkey solutions is always relevant and valuable because it allows for a comprehensive resolution of problems rather than addressing them in pieces, offering a real solution to the main thing. At Monoup, we are proud to offer in-house turnkey solutions and fully address our clients’ tasks. This includes complete product launches, structural changes, and payment processing components.
Today, we will share one of our many clients case studies. Due to NDA agreements, we cannot disclose specific figures and company names, but we will explain what to expect from working with us and how we typically build partnerships with our clients.
What was client's request
A team of game developers saw our online ad and reached out with a request to connect payment systems for their new website. The team planned to enter international market, including EU and the USA. The request was fairly standard. However, it turned out that while focusing on their product, they had not considered legal aspects at all and came to us with a ready-made website but without a legal entity or understanding of how to enter into contractual relationships with providers.
Operating in the CIS market, you may try to work for some time without legal structure, as many P2P providers do not pay much attention to this. However, if you plan to launch a gaming website on the international stage, official registration is essential. For more favorable conditions and quality gateways, it is crucial to take the opening of a legal entity seriously. Even within the CIS market, there is significant potential for gaming products to obtain quality credit card acquiring and fast in-game purchases. P2P-based solutions cannot fully meet needs of such businesses, so it is essential to consider payment issues in advance.
Here, weigh all the pros and cons when choosing a legal structure, jurisdiction, and payment partners. Therefore, request to "connect payment system for a gaming website" evolved into a more precise one: "launch gaming business turnkey."
How we approached this task
First, we had an intro call with client and explained why it is not possible to integrate good, stable, and reasonably priced payment systems without a legal entity and the potential future risks. For such a project, it is essential to consider the legal structure, dividend payouts to founders, marketing, and support services in advance. Although we immediately offered alternative payment system options, client agreed that it would be best to formalize business properly and obtain the most favorable conditions from stable, reputable payment systems and partners.
Considering this, we began selecting jurisdiction for the potential launch. After reviewing several options with the client, we settled on Cyprus. Why choose Cyprus for starting international business?
Besides being a popular country, there are specific reasons for its popularity. These include a relatively low tax rate (12.5% for the EU, which is quite good one), a straightforward and quick company registration and maintenance process, and established connections with the EU and other countries. Cyprus is an excellent option for international operations, even if you do not plan to offer services to clients in Cyprus itself.
We proceeded with opening the company, collecting and preparing all documents in cooperation with the client. Simultaneously, we were selecting payment providers and banks where an account could be opened for this type of activity. Since online games are a specific niche with various game interaction mechanics, not every bank will be willing to support it. After completing compliance procedures, we connected several payment systems to cover the main markets, and website was ready to go live.
What result did our client achieve?
In the end, we created a complete legal and financial structure for our client, including a legal entity and merchant accounts in payment systems. This allowed for a quick launch, as while we handled administrative tasks, client finalized platform and organized marketing.
The structure is designed to be modified according to company's growth and changing needs. All necessary permits were obtained, external and internal policies established, including AML monitoring. Massive gaming products require significant attention to payments and players registering on the site.
What can we do for you?
- Optimize payment approval ratio and everything related to it. Work in this direction can be multifaceted, but we know the results. Whether you are new to the business or have been operating for a while and have already learned a lot — we have something to offer you.
- Build payment and legal processes correctly from the start, as we did in this case. Since we help with opening legal entities, Monoup can launch your project turnkey. We can open a company, bank account, payment systems, and provide recommendations or assist in implementing the website itself.
- Open accounts in banks, EMIs, crypto exchanges, or other financial institutions for your company. We handle all compliance, resulting in a ready-to-use account.
- Test payment systems and methods, flows, and technical paths to achieve a "wow effect" in production.
We serve projects in iGaming, affiliate marketing, crypto, gaming platforms, and other IT businesses. To contact us, write to our email address or chat with us in Telegram!
