In Pictures: Asia’s Gaming Industry Gathers For A Private Dinner

By Chong Seow Wei

Gen.T and PayPal hosted about 50 guests for an evening of networking and conversations around issues impacting Asia's gaming industry

Tatler Asia

In the last two years, the gaming industry has really taken off in large part due to the pandemic. People turned to games to keep themselves entertained as they dealt with lockdowns and spent more time at home. 

Asia’s gaming market, in particular, saw incredible growth during this period, with about 50 percent of gamers worldwide being located within the region. The majority of these gamers play on their mobile devices and are spending a great deal of money on such games. In 2021, gamers in the region dropped more than US$57 billion on mobile games alone. 

At the same time, many gaming companies still face the challenge of providing a smooth and, more importantly, secure payment experience for their users.

This issue and more were just some of the topics of conversation that guests discussed at Gen.T and PayPal’s networking dinner held in late August. 

Read more: In Pictures: Expanding Into East Asia With PayPal’s Patrick Foo

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Above  On August 22, Gen.T and PayPal hosted a private dinner in Singapore that was attended by gaming industry players

Attending the event at Sinfonia Ristorante in Singapore were gaming founders, creators, developers, publishers and thought leaders from across Asia.

A panel moderated by PayPal’s Patrick Foo and featuring Robin Ng, COO of Gravity Game Hub, and Phoram Mehta, PayPal’s chief information security officer for Asia-Pacific, also talked about the growing sophistication of cyberattacks and why businesses need to invest in improving their security measures. 

“We face cyberattacks and fraud attempts on a daily basis, and they are getting more sophisticated over time” shares Ng. He adds that one of the most common attacks that Gravity and many game developers and publishers see is carding, which is when a credit card is illegally used by unauthorised people to make a purchase. 

In response to this, Mehta explains that it is actually extremely difficult for companies to fully understand the situation if they lack the know-how or budget to properly invest in cybersecurity.

Read more: In Pictures: Roundtable Event On Fulfillment, Expansion And Growth During The Pandemic

“Most companies are simply checking if a credit card is valid or not,” he says, “but stolen credit cards are being sold in the millions on the dark web.”

He also touches on the difficulty that companies may face in developing their own cybersecurity capacity. “You’ll want to be available to address issues happening around the world, but the question is if you’re able to understand the compliance requirements of every market you’re in.” 

The panel wrapped up with a tip from Mehta to the the business community in attendance: “In the long-term, you’d want to focus your energy and money on building a team that can match up to the needs you’ll have in the future. Or you can find a partner that has an understanding and resources invested to prevent fraud.”

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