Latest attractions for the teens include online game, social networks and music. These youngsters are labeled as 'cash generation' because they like using cash with related services and purchases.
Nexon, which brought first ever online graphics game in 1995, soon after released games maple story and kart rider. And along with them it also introduced 'Nexon cash', its own payment system. The industry believes such cash system promotes high profit margins; it's a Cash Cow for them.
Most online game sites use their own cash payment system like that of the 'Nexon cash'. For instance,
CJ internet (sudden attack, La Frontera) uses 'netmarble cash',
Windysoft(GetAmped) uses 'getamp cash'
Neowiz uses 'pmang cash'
Mgame uses 'mgame cash'. Gamers can easily earn free cash points from many game sites through simple participation in numerous promotions they offer. Other retailers also offer free cash points from the game sites in their promotions as a prize.
There is also cash payment service for small amount transactions (below $10). 'Happy money' from
Happymoney I&C and 'culture cash' from
Cultureland is such place. These sites also offer same kind of payment method in other various areas like shopping mall, ticket purchase, music, book, internet class, and mobile content services.
There are also prepaid cash cards (teen cash) offering from the convenience stores. The 'Teen Cash' offered from
I&Play can be used to pay for playing online games and other online purchases in community and portal services. It can be used in over one hundred game sites, shops, and replenish credits in PC rooms. Its convenient transit-pass like card design makes it easy to carry and cute characters on the card makes it even more appealing to own.
"There is some concerns with high number of game payments in overall cash service method but new generation of cash spenders like that of 'Nexon cash' and 'happy cash' could bring new kind of cash consumers in 30 and 40 age groups." pointed out by Dakyung Kang, marketing director Happy money I & C.