Prize Payments today announced their first live payments, for Ubisoft’s Tom Clancy’s Rainbow Six® Siege Nordics Championship, in which winning players from six countries received prize money in an average of 15 hours, ensuring a positive player experience.
Tournament organizers face a host of challenges when paying out winnings, including protecting winners’ personal information.
Ubisoft sought to deliver prize money in a timely fashion while remaining compliant to the European regulations around privacy and data retention, known as General Data Protection Regulation (GDPR). Prize Payments has specifically designed a solution to protect the privacy of prize winners while allowing for convenience and speedy delivery of payments.
Prize Payments distributed prizes from Ubisoft to players in Denmark, Finland, Sweden, the Netherlands, Germany, and the United Kingdom. 95% of all winners from the Rainbow Six® Siege Nordics Championship elected to be paid by direct bank transfer using the Prize Payment platform rather than PayPal, Check or Wire transfers (which the platform also provides, at the player’s discretion).
‘We’re delighted to be working with Ubisoft on delivering such a seamless payment experience to winning players at the Rainbow Six® Siege Nordics Championship’ said Han Park, CEO at Prize Payments. ‘Winning players deserve prompt payment, with a completely GDPR compliant transfer, which is exactly what Prize Payments will always deliver.’
‘Ubisoft is committed to provide the best player experience possible. That includes offering the smoothest experience possible for competitive players when it comes to payment of their prize money.” said Morten Ryberg, Marketing Director at Ubisoft Nordics. “We’re happy with our collaboration with Prize Payments for the Nordics Championship. Their solution ensured all transactions were handled transparently, in compliance with all GDPR and financial regulations and we are looking forward to keep working together in the future’.
New features will be coming to the Prize Payment platform in early 2020, including:
Payors will be able to upload large volumes of payees quickly or export from existing tournament platforms or accounting systems.
Making payments even more secure by making sure that the right players are getting paid by verifying their identity.
Tournament Organizers and Payors will be able to withhold taxes based on the tax laws and regulations in their country and on the country their payees reside in.
Tax filing integration
A new tax filing integration system for US payees, including automatic 1099 filing on behalf of the payees