Prize Payments Announces Partnership With DreamHack to Accelerate Tournament Payouts

LOS ANGELES, CA, September 9, 2020 – Prize Payments, the leading payment solution for esports and gaming, today announces a partnership with DreamHack, the premier gaming lifestyle festival, to pay tournament winnings.

DreamHack is using its new Community Clash events to pilot the Prize Payments platform for wider integration into their accounting workflow. With Prize Payments, Dreamhack Community Clash competitors were paid out within an average of 72 hours, resulting in a more engaging player experience.

“Partnering with DreamHack is an exciting opportunity for Prize Payments to show how we can streamline the payment process for tournament organizers and their winners to create a healthier ecosystem for players of all levels,” said Han Park, CEO of Prize Payments. “We’re proud to be working with a top esports tournament organizer like DreamHack who are creating opportunities for amateurs and aspiring pro gamers. By getting players paid out faster, it gives them a positive experience competing and allows them to continue growing within the esports community.”

Due to an industry-wide shift from live events to online tournaments in esports amid the COVID-19 pandemic, there are a greater number of prize winners receiving smaller payments than would normally be awarded at live events. This means an increase in payment volume for tournament organizers, resulting in increased overhead from onboarding winners, collecting necessary tax forms, and processing payments. Prize Payments alleviates the added strain on tournament organizers by providing an efficient, compliant, and swift payments platform that streamlines the payment process and reduces the time it takes to transfer funds to players.

“The player experience is integral to DreamHack, and our new Community Clash tournaments were designed from the ground up to reward players for competing in their favorite games,” said Bas Bruinekool, VP of DreamHack North America. “Working with Prize Payments has allowed us to continue upholding our player first values right the way through awarding prize winnings, which previously was one of the most laborious and challenging of the esports experience.”

By utilizing Prize Payments, DreamHack is able to scale its online tournament operations without worrying about handling prize money, as well as streamline the payment process for their live events when they return.