Bolt and Toffee have entered into a strategic collaboration aimed at providing Merchant of Record services to game studios and app developers across over 190 countries. This partnership involves significant financial commitments, with more than USD 300 million in processing agreements already signed.
As part of the agreement, Bolt will direct game and app developers to Toffee, which will act as a single point of contact for tax collection, local payment methods management, regulatory compliance, fraud prevention, and global settlement. Toffee specializes in Merchant of Record services for digital goods and is supported by a16z Speedrun.
Filling the Gap in In-App Commerce
This partnership targets an area of digital commerce that has historically lacked dedicated infrastructure. Unlike physical or web shop transactions, managing payments within games involves unique challenges such as virtual currency compliance and distinct refund policies. Toffee has been handling these complexities for over two years before third-party providers were allowed to operate on Apple and Google platforms in 2024.
Kyle Sye, Bolt’s Head of Games, highlighted that the market needed a partner with extensive experience within games rather than one focused only on web checkout. He cited Toffee’s pioneering work in in-app payments as proof of their comprehensive expertise.
Dmitry Vysotski, Co-Founder and CEO of Toffee, explained that the company’s origins in real-money gaming provided them with a deep understanding of the challenges faced by payment providers today. He noted that virtual currency compliance, fraud patterns within games, and refund mechanisms are fundamentally different from standard ecommerce.
Market Context and Regulatory Drivers
Global in-app purchase revenue reached USD 167 billion in 2025, marking a year-on-year growth of over 10%. The broader digital goods market, encompassing online games, virtual goods, streaming, and digital content, was valued at USD 124 billion in 2025 and is projected to grow to USD 511 billion by 2031. Regulatory changes, such as the EU Digital Markets Act and evolving app store policies, have spurred developers’ need for independent payment solutions.
Toffee’s platform started in real-money gaming before expanding into freemium markets. Beyond its collaboration with Bolt, Toffee continues to see growing interest from game studios and app developers looking for global distribution solutions that address these complexities.
