J.P Morgan makes investments in two gaming-focused payments companies

J.P Morgan

Banking giant J.P Morgan has made undisclosed strategic investments in Tilia and Sightline, two gaming-focused payments companies.

Tilia offers an all-in-one payments platform that handles payment processing, in-game transactions and pay outs to creators within games, virtual worlds, and mobile application development.

Meanwhile, Sightline specialises in payments technology for the regulated gaming industry, a burgeoning space.

J.P Morgan remarked that the investment in both these businesses represents the company’s commitment within the gaming-focused payments space and its vision for the future.

The company said, “The industry is undergoing tremendous transformation that will usher in a new generation of gaming-focused opportunities for both businesses and their end consumers. Businesses can use integrated payment solutions to grow greater marketplace experiences, resulting in a higher quality and quantity of third-party providers and more options for consumers by enabling faster, safer and lower-cost virtual wallet transfers.

“Through this digital transformation, physical and virtual worlds may blend to offer revenue opportunities for businesses and contextual experiences for evolving consumer expectations.”

J.P Morgan will work with Sightline to develop an integrated omni-channel solution for resort and online gaming companies, which will serve the resort entertainment and lodging ecosystem.

The firm will also work with Tilia to enhance its current capabilities throughout its all-in-one payments processing platform including providing increased payment and payout methods, expanding pay-out currencies and support services.

J.P Morgan Payments head of ecommerce and marketplaces solutions Sanjay Saraf said, “We believe that industry-specific contextual software is critical to powering any payments ecosystem to create a unique, engaging consumer experience and also to transform the revenue potential for merchants.”

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