Online payments firm processes over $2m in Black Friday and Cyber Monday surge

Tebex, the Nottingham provider of gCommerce solutions for online games, has reported a surge in sales just one month after the launch of its new product, Tebex Checkout.

After two years and nearly £500,000 investment in the R&D behind the product, Tebex Checkout signals Tebex’s evolution into a payment platform in its own right, following a major partnership with some of the world’s largest payment acquirers.

This allows creators and server owners to deal directly with Tebex, saving them time by removing the hassle and stringent requirements of integration, complicated APIs, dealing with payment gateways and arranging commercial agreements.

Tebex founder Lee McNeil said: “The takeup in the market has been incredible, partly because we are making things so much easier for people but also because of the peace of mind that comes from partnering with us. We are used by the world’s largest game servers, processing over half a billion dollars to date and that helps to provide major protection against fraud, especially friendly fraud, which is so common in our industry.

“We only launched Tebex Checkout at the start of September after strenuous testing and research but in that short time we have paid out just over $2m to the creators on our platform. We were keen to test the product in the run up to and throughout Black Friday and Cyber Monday and it has come through with flying colours.”

Last year, the business announced a major milestone after processing over 21 million payments and has continued to grow in 2020, doubling the workforce a team of eight, with further appointments expected to be announced in the coming weeks.