Inside Social Games

Earlier today, social network hi5 announced its new partnership with virtual currency monetization company PlaySpan. As part of the deal, hi5 will integrate PlaySpan’s PayByCash and Ultimate Game Card payment services that together will open up 80 or so different payment methods to the hi5 user base.

With the new integration, users will now be granted yet another means to acquire the network’s brand new hi5 Coins. Users can then purchase both premium virtual goods and services with the hi5 virtual currency.

“Our partnership offers users a very flexible means to purchase hi5 Coins,” says Anil Dharni, Vice President of Products at hi5. In a recent partnership between hi5 and Paymo, the mobile payment company reported that 75% of internet users do not own a credit card. With the addition of PlaySpan’s Ultimate Game Card to hi5’s payment options, users will now gain the ability to use retail value cards (as well as other methods) throughout North America, Asia, Europe, and Latin America.

Both hi5 and PlaySpan have been busy signing up more partners as of late. In addition to its recent partnership with Paymo, hi5 also recently announced a partnership with Mochi Media to expand its game library. PlaySpan says subsidiary PayByCash will be expanding to meet the extra demand coming from hi5’s 62 million worldwide members.

The companies say they expect to add support for transactions in Turkey, Thailand, Portugal, Mexico, Chile, Brazil, and Argentina, by the end of this month.