Virgin Gaming, which hosts online competitive gaming that awards real cash prizes, has signed an agreement with Toronto-based Mazooma that will enable Virgin’s players to tap their personal bank accounts for cash-based tournaments and head-to-head challenges.

Mazooma transactions eliminate the need for credit cards and are completed in real time. Virgin Gaming’s chief financial officer Harp Gahunia said this makes Mazooma a good fit with its target customer demographic. “Not all of our gamers have access to credit cards, but they do have bank accounts. Mazooma lets us reach this entirely new player base,” he said.

Mazooma, which launched its micropayment solution in August 2011, currently supports the 16 largest U.S. banks. The company is headquartered in Toronto with offices in Miami and Chicago.

“We’re excited to be working with Virgin Gaming, the most recognized brand in the skills-based gaming industry,” says Wilson Lee, president of Mazooma. “Our solution supports the unique requirements of cash-based competitive gaming play – an exciting industry poised for explosive growth.”

Virgin Gaming supports specific multiplayer PlayStation 3 and Xbox 360 games, which enables the company’s platform to directly verify game statistics. Participants must be at least 18 years old, and residents of 15 U.S. states are legally prohibited from participating in the cash games.

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