Rixty

Rixty operated as a pivotal alternative payment platform, founded in 2007 by Ted Sorom. The company carved a niche by enabling consumers, particularly those without access to credit cards or traditional banking, to purchase online games and digital content. This addressed a significant market segment of youth and unbanked adults who wished to participate in the burgeoning digital economy, which included multiplayer games, virtual worlds, and various digital media.

The business model centered on converting physical cash into digital currency. Consumers could use cash at an extensive network of retail stores to acquire Rixty credits, which could then be redeemed online across a wide catalog of entertainment options. This system provided a secure and accessible bridge for cash-based economies to interact with the digital marketplace. The company secured seed funding in 2009 and 2010 from investors including First Round Capital, Freestyle Capital, and Javelin Venture Partners.

The founder, Ted Sorom, brought a robust background in engineering and entrepreneurship to the venture, holding an MBA from UC Berkeley and an MS in Mechanical Engineering from Stanford. His prior experience as an Engineering Manager at a toy company and CTO at an underwater imaging company underscored a career focused on product development and technology leadership. This foundation was instrumental in developing Rixty's solution to a complex payment problem.

A significant milestone in Rixty's history was its acquisition by MOL Global in October 2012. Later, in 2018, Razer Inc., a global lifestyle brand for gamers, acquired Rixty's parent company to integrate its payment network. By May 2019, Rixty was fully rebranded and integrated into Razer's ecosystem, becoming the operational entity for Razer Gold in the Americas. This strategic move allowed Razer to expand its virtual credit system, Razer Gold, into the Americas and other regions where Rixty had established a strong presence, folding Rixty's user base and infrastructure into a larger, global gaming payment network.

Keywords: alternative payment, online gaming payments, digital content, cash-based consumers, unbanked, virtual currency, Razer Gold, MOL Global, Ted Sorom, payment platform, e-wallet, video game credits, digital media payments, online entertainment, fintech, payment gateway, microtransactions, virtual goods, prepaid payments, gaming monetization, Americas gaming market