Earlier this week, a new fintech, Zytara, revealed plans to launch a digital banking platform and payment network, designed for Millennial and Gen Z gamers and esports enthusiasts. Zytara, whose mission is financial inclusion and literacy among those audiences, plans to launch early next year.
Its offering of holistic financial solutions, deeply embedded into the gaming culture, will be the first-of-its-kind to a burgeoning gaming industry that currently lacks a dedicated banking product. Market research firm Newzoo estimates that the global games market will generate revenues of $159.3B in 2020, a 9.3% YoY increase in an industry that is set to exceed 3 billion gamers by 2021.
Zytara, working with its bank partners, will offer an array of banking products and services, including a checking and savings account, a virtual and physical debit card and access to investing tools. The Zytara mobile app will also offer unique features tailored to gamers and esports fans, including limited-edition branded cards, integrated automated payments for online gaming tournaments, player-to-player (P2P) transfers, and easy-to-use parental controls.
“Zytara brings a disruption opportunity that combines all of the capabilities of a regular bank account, with an array of features that gamers and esports enthusiasts can embrace as their own,” said Al Burgio, Founder and CEO at Zytara. “Esports may still be maturing but as the industry is growing in force and reach, it doesn’t have a dedicated and tailored to gamers banking and payment processing solution. With over 20% of global gamers aged under 18, and a market that continues to grow, a payment solution that also supports under 18 users is long overdue. We’re thrilled to be bringing our platform to market – but that’s really just the start of the journey for us.”
Zytara’s leadership team includes serial entrepreneurs and an array of talent from the financial, tech and gaming industries, including Founder and CEO Al Burgio, CTO Matt Mahvi, and George Schmelzel, Chief Payments Officer of Zytara.