ChannelLife Australia logo
Industry insider news for Australia's technology resellers
Story image

Mastercard users can now use rewards points in gaming

By Jessie Chiang
Mon 16 May 2022

Mastercard has launched Mastercard Gamer Xchange (MGX), allowing APAC consumers to convert their rewards points into gaming currency.

It says the MGX platform is the world's first conversion engine that allows consumers to convert unspent rewards points into gaming currency across nearly 4,000 gaming titles. 

Mastercard says it works through a simple API integration on the loyalty platform, allowing fast and seamless redemption.

The company says with COVID-19 and its accompanying restrictions affecting once regular activities such as shopping, travel, and dining, people have increasingly turned to alternative avenues of entertainment such as gaming to satisfy their need for richer and more diverse experiences. 

Simultaneously, Mastercard says consumers have been constrained by their inability to redeem their accumulated rewards points, triggering a sense of dissatisfaction amongst them while also posing a significant financial liability for loyalty program owners.

The company says MGX presents itself as an intuitive, innovative, and intelligent solution that addresses this gap in the ecosystem. 

Targeting medium-to-high spending gaming audiences, the new conversion engine aims to give them an alternative rewards programme.

Mastercard Asia Pacific vice president of consumer marketing and sponsorships Kaveri Khullar says the gaming audience in Asia is incredibly diverse.

"The market is booming with possibility, and with the dynamics of the rewards redemption industry being irreversibly modified, there is no better time than now for brands and consumers to benefit from stepping into the gaming arena," he says.

"Through one simple, seamless solution that integrates flexibility and functionality, MGX creates a whole new category in rewards redemption programs, one that doesn't currently exist, and allows owners of reward programs to connect with the world's fastest-expanding entertainment market in ways that truly matter to them."

Mastercard says APAC is home to 54% of the world's gaming audience, reaching an estimated gaming community size of 1.8 billion by 2024.

The company says APAC is the first region to launch MGX, although the new service is international and supports gaming products and currencies in local languages across 75 countries worldwide. 

Mastercard says this latest announcement demonstrates its broadening presence in the gaming industry after having diversified its sports and entertainment portfolio with gaming titles and ambassadors from 2018. 

This follows Mastercard's recent partnership with TradeWindow in a bid to increase access to trade finance and simplify cross-border payments and research commissioned by Mastercard in December last year that found New Zealand consumers were starting to spend less money at home on items and more on experiences.

Mastercard is a global technology company in the payments industry with connections across more than 210 countries and territories.

Related stories
Top stories
Story image
Microsoft
TO THE NEW unveils A/NZ Managed Services for Microsoft Azure
TO THE NEW has released Managed Services for Microsoft Azure to meet the growing demand in the A/NZ market and globally.
Story image
Sustainability
Honeywell launches new carbon energy management software for buildings
The new Carbon & Energy Management service allows building owners to track and optimise energy performance against carbon reduction goals, down to a device or asset level.
Story image
Infrastructure
Global investment in data centers more than doubled in 2021
DLA Piper's latest global survey finds the total investment in data center infrastructure worldwide rose from USD $24.4 billion in 2020 to USD $53.8 billion in 2021.
Story image
Tech job moves
Tech job moves - ActiveCampaign, Arcserve, LogRhythm & Qlik
We round up all job appointments from June 17-22, 2022, in one place to keep you updated with the latest from across the tech industries.
Story image
Manhattan Associates
New late-stage order cancellation to improve customer service
Manhattan Associates launches new service allowing orders to be cancelled up to the point of manifested/loaded status, preventing unwanted shipments and costly returns.
Story image
Identity and Access Management
Ping Identity launches corporate venture capital fund
Ping Identity has launched a corporate venture capital fund to foster innovative offerings for the identity security market.
Story image
INTERPOL
Hundreds arrested, millions seized in global INTERPOL investigation
A two-month-long investigation by INTERPOL this year involved 76 countries and clamped down on organised crime groups behind telecommunications and social engineering scams.
Story image
Cloud
NetApp announces winners of APAC Partner Excellence Awards
These awards recognise partners that have demonstrated success in delivering new cloud experiences, unlocking greater business value for their customers.
Story image
Artificial Intelligence
Abnormal Security finds financial supply chain under threat
New research by Abnormal Security has found a rising trend in financial supply chain compromise as threat actors increasingly impersonate vendors.
Story image
Network Security
Netskope announces zero trust network access updates
Customers can now apply zero trust principles across a range of hybrid work security needs, including SaaS, IaaS, private applications, and endpoint devices.
Story image
Consumer
Adobe survey reveals link between brand trust and consumer buy-in
Adobe has announced results from a study, which finds a strong correlation between brand trust and consumer behaviour.
Wiise
Project accounting not adding up? Successful job-based businesses all have one thing in common, it's the way they manage their job and project accounting. Discover the 4 success factors now.
Link image
Story image
NaaS
Survey finds 94% of Australian IT leaders looking at NaaS
Aruba’s latest survey reveals a rising interest in NaaS among Australian technology leaders as they re-evaluate their current infrastructure and network setup.
Story image
Cybersecurity
Australia worst in the world for mobile app threats
Australia is the country with the highest percentage of mobile app threats detected, according to new research.
Story image
Digital Transformation
Apptio adds portfolio enhancements to promote digital strategy
"While digitalisation creates opportunities, it also makes budgeting far more complex, leading many companies to waste substantial funds."
Story image
Cybersecurity
Threat actors ramp up their social engineering attacks
As people get better at identifying potential threats in their inbox, threat actors must evolve their methods. Their new M.O? Social engineering.
Story image
Cybersecurity
Ingram Micro launches vendor-backed security program
Ingram Micro has unveiled a new program intended to give resellers the effective offerings their customers need to stay safe in the evolving threat landscape.
Story image
Healthcare
Helping Western Sydney Local Health District provide a new model of care in the fight against COVID
Western Sydney Local Health District (WSLHD) and PwC’s Consulting Business came together to solve through the challenges of COVID-19.
Story image
Cloud
SAS and Greater Bank launches new AML and fraud service
Greater Bank and SAS have joined forces to deliver a new fraud detection and anti-money laundering solution that bolsters the protection of its 270,000 plus customers.
Story image
CRM
Microsoft launches app for modern selling experience
The new release is designed to enhance CRM systems with customer engagement data from Microsoft 365 and Microsoft Teams.
Story image
Apple
Jamf updates healthcare IT to protect data on Apple devices
Jamf has rolled out new functionality to help healthcare and IT teams protect patient data and streamline clinical access for their Apple fleet.
Story image
Yubico
New research shows global drive for passwordless authentication
A new study has shown there has been a significant shift towards wanting a passwordless future, but adoption is still in its infancy.
Story image
Citrix
The best ways to attract young talent during labour shortages
New research from Citrix reveals hybrid working and ventures into the metaverse are top of mind for Gen Z workers.
Story image
Amazon Web Services / AWS
Zscaler, AWS accelerate onramp to the cloud with zero trust
Zscaler has announced an extension to its relationship with Amazon Web Services, as well as innovations built on Zscaler's Zero Trust architecture.
Story image
3D Printing
Fleet Space, Konica Minolta partner for 3D printer offering
Fleet Space has partnered with Konica Minolta to implement 3D printers from 3D Systems to support the commercial small satellite manufacturer’s offerings.
Story image
Cybersecurity
Aqua Security, CIS create software supply chain security guide
Aqua Securityand the Center for Internet Security have together released the industry’s first formal guidelines for software supply chain security.
Story image
Ransomware
Rapid7 report examines use of double extortion ransomware attacks
New insight into how attackers think when carrying out cyber attacks, along with further analysis of the disclosure layer of double extortion ransomware attacks, has come to light.
Story image
inDriver
New ride service inDriver arrives in Melbourne - pick your own fares
inDriver has launched in Melbourne, Australia and says it's set to disrupt the ride-hailing industry by allowing passengers and drivers to set and pick their own fares.
Story image
Internet of Things
Domino's Pizza: A blueprint for secure enterprise IoT deployment
Increasingly, organisations are embracing smart technologies to underpin innovations that can enhance safety and productivity in every part of our lives, from industrial systems, utilities, and building management to various forms of business enablement.
Story image
10 Minute IT Jams
Video: 10 Minute IT Jams - An update from Rimini Street
Today we welcome back Daniel Benad, who is the GVP & regional GM for Oceania at Rimini Street.
Wiise
3 success factors for your distribution business in FY23. With growing challenges facing Australia’s supply chain, understanding your key priorities as a wholesale distribution business is crucial. Discover the 3 success factors for your distribution business in FY23.
Link image
Story image
trust
Consumers want personalisation, but don't trust brands with their data
Customers expect personalisation during every brand interaction but they don't trust brands to keep their personal data secure and to use it responsibly. 
Story image
Digital Transformation
Cybersecurity priorities for digital leaders navigating digital transformation
In recent years, Asia-Pacific has especially been a hotspot for cyberattacks, and as we continue into 2022, it’s evident that the problem is becoming more significant.
Story image
Cloud
Cloudera harnesses the power of cloud and data management for digital transformation
The data management landscape has changed significantly in recent years, with customer demands shifting and evolving in light of new technology and work processes.
Story image
Infrastructure
Lenovo announces launch of Retail Solutions portfolio in A/NZ
Lenovo has announced the launch of its Lenovo Retail Solutions portfolio across the A/NZ region, which they say will help retailers transform their business and face future retail demands.
Wiise
What are the 5 critical impacts of outdated systems? As the landscape continues to shift, having the right ERP will make or break Australian businesses. Discover 5 ways your current ERP might be letting you down.
Link image
Story image
Attack
Phishing attacks are making a comeback
No matter what approach or tool cybercriminals use to breach a network, they all have one thing in common: access.
Wiise
Is your on-premise ERP holding you back? Many Australian businesses are moving from on-premise to the cloud so they can streamline processes and access up-to-date business data on the go. Here’s 5 signs that you’re equipped to migrate from on-premise to the cloud.
Link image
Story image
B2B
Corpay partners with supply chain platform PracBiz Exchange
Corpay's new partnership with PracBiz’s allows more than 4000 B2B suppliers on the latter's platform to use Corpay's global payments services.
Story image
Hybrid workforce
Why hybrid working is here to stay and how to ace it
Citrix's new report reveals hybrid workers are more productive and engaged at work than their office and completely remote counterparts.
Story image
Partnerships
Microsoft expands APAC Enabler Mentorship Program
"Mentors are the key to success for every professional. A good mentor is a coach, a guide, as well as a vocal advocate."
Story image
Cloud
Cloudflare outage in 19 data centers worldwide due to own error
Cloudflare says its outage for 19 of its data centers yesterday was because of a change in a long-running project to increase resilience in its busiest locations.
Story image
Tech job moves
Tech job moves - Boomi, Limepay, Thales, VMware & Zoom
We round up all job appointments from June 6-16, 2022, in one place to keep you updated with the latest from across the tech industries.
Story image
DDoS
Flashpoint unveils security offering for school boards
Flashpoint has released its K-12 risk management and security offering to provide school boards and education security practitioners with tools to recognise, prevent and manage cyber and physical threats.