New Horizons: Payments Opens Career Options For Gaming Professionals
If you’re a skilled professional with experience in your industry, it’s easy to get stuck. With an established network, you’ll find that job opportunities from scale-up companies, ex-colleagues and specialist recruiters aren’t that unusual. Vacancies in other sectors don’t appear as often, which means you’d have to actively seek them out (and let’s face it, you’re too busy for that).
However, sometimes it’s good to broaden your experience: not only will you gain new skills and a well-rounded CV, but it could give you the new career challenge you’ve been looking for.
In 2018 Pentasia acquired Headcount, the leading payments recruitment agency, and since then we’ve found an increasing number of candidates making the switch between payments and gaming, due to the synergies between the two industries and the resulting overlap of talent. Indeed, many clients are happy to consider candidates with functional skills (eg product, UX, software engineering, etc) that can bring a new angle to the table from their experience in adjacent industries.
So, as a gaming professional, could the payments industry offer a new horizon for your next career move?
GET INSPIRED: First read - on Head-count.com - Career Advice: Why Payments Is The Place To Be
Some of the synergies between gaming and payments:
Perhaps the most obvious similarity; both payments, part of the wider fintech landscape, and online gambling are heavily regulated. Both industries are vulnerable to attack from fraudsters and cyber criminals, since they involve moving large sums of money around online. While the regulatory bodies and regulations themselves are different, there’s significant overlap in the need to follow process, have systems in place to rigorously collect data, and make sure legal agreements are watertight.
2. High volume environment
The business models of both payments and gaming companies are transaction based: revenue streams depend on growing the volume of transactions -whether that’s purchases made through the provider’s gateway, or wagers placed. As a result, companies in both industries rely on a frictionless customer experience to drive sales.
3. High growth industries
Online gambling has gone from strength to strength recently, with some estimations predicting the industry to double in size from 2017 to 2024. Payments has also seen healthy growth, with the industry set to grow 6% year on year for the next 5 years. Due to this, both have seen start-up activity and an increasing level of investment in the space: a magnet for talent.
4. Data-centric approach
Being high volume digital industries, companies in both payments and gaming are harvesting lots of data in real-time, and it’s crucial that they analyse this data in the most intelligent way (hence the need for data professionals). Whether it’s odds-setting, analysing customer behaviour to create or refine products, or spotting suspicious transaction, data is king here.
5. Influence of new technologies
Artificial intelligence and blockchain aren’t confined to payments and igaming, but it’s undeniable that they are especially influential here. Since both industries are based on trust and are susceptible to fraud and cyber-attacks, both are using artificial intelligence to better spot suspicious activity. With its ability to verify unique transactions, blockchain has huge potential as well.
So, interested to explore a career move from gaming into payments (or visa versa)…?
Moving from gaming into payments: The finance industry is seeing massive disruption, and payments companies are leading the way, with a growing share of banking and finance revenues. As a result, the sector is awash with investment and some of the most cutting-edge innovation. With technologies like blockchain and artificial intelligence, Open Banking, and a growing consumer confidence in startups and challenger brands alike, it’s never been a more exciting time to work in this industry. And if you’re a creative, data driven candidate from igaming, your experience will be valued.
Moving from payments into gaming. We’ve seen many candidates take the leap from payments into gaming recently. if you are comfortable working in a regulated environment and are used to working in a fast-paced digital company, but fancy the chance to work in an entertainment focused sector, then online gambling could be for you. Expect talented, fun colleagues, plenty of social events, and the chance to deploy your skills with some of the coolest brands around.