888.com's b2b subsidiary now active in other e-commerce sectors

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11/17/09 - Dragonfish, the b2b division of online gambling group 888.com, branched out into other e-commerce sectors this week, inking a major e-Payments processing agreement with Linden Lab, the creator of the virtual world Second Life, thus diversifying its business beyond the gaming industry.
 
The agreement calls for Dragonfish to provide Linden Lab with e-Payments, fraud and customer support management services. The services will be delivered via Dragonfish’s back office functionality and advanced cashier interface.
 
A Dragonfish spokesman said that the company's e-Payment solutions are unique, combining payment optimisation technology and fraud management, including anti-money laundering with 24/7 multi-lingual customer operations that assist customers’ deposits and withdrawals both proactively and reactively.
 
Dragonfish has over a decade of experience in global payment processing and works with a variety of trusted bank partners, the spokesman said, adding that a wide portfolio of local and global payment methods enables Dragonfish to maximise transaction approval rates and provide the platform for partners to rapidly penetrate new markets.
 
With the support of a highly experienced fraud and risk management department, Dragonfish provides an easy and secure environment for its partners’ customers.
 
The agreement with Linden Lab is significant as it represents an extension of Dragonfish’s offering beyond the gaming industry, into the wider retail environment; adding ‘Total Payment Services’ to the existing ‘Total Gaming Services’ offering and becoming a stronger player in the regulated PSP market.
 
Founded in 1999, Linden Lab is the creator of Second Life, the world’s leading 3D virtual world environment. Since Second Life opened to the public in 2003, Second Life residents have logged more than one billion hours and generated more than US$1 billion in user-to-user transactions on the platform. With a broad user base that includes everyone from consumers and educators to medical researchers and large enterprises, Second Life has become one of the largest hubs of user-generated content and the largest user-generated virtual goods economy in the world.
 
Gabi Campos, Managing Director of Dragonfish, commented: “Today’s agreement extends our offer of Total Gaming Services into Total Payment Services and highlights the increasingly diverse nature and strength of Dragonfish’s operations.
 
"We have many gaming partners interested in our e-Payment solutions but this is a giant step beyond our core operations into the retail environment. It’s an excellent complementary business for Dragonfish which will provide incremental revenue.”
 
"Second Life residents log into the virtual world from nearly every country around the globe and participate in a virtual economy that will exceed US$500 million this year," said Mark Kingdon, CEO of Linden Lab.
 
"Dragonfish has a strong track record in unlocking new markets through its unique and secure payment processing solutions, and as Second Life continues to grow internationally, we're pleased to work with them to provide easy and secure payment options for our users outside the United States."

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