Crane Payments Ushering in a New Age of Gaming Payments

CASHLESS PAYMENT: A GATEWAY TO HIGHER REVENUE

Industries are constantly innovating to meet the dynamic needs of consumers and few technologies have undergone such rapid change as payment systems. Recent legislative changes and the proliferation of new technologies have made payment evolution for casinos possible in an industry that has been historically restricted in adopting alternative forms of payment. Cashless payments have been shown to increase players’ visits per week, increase the time spent on machines and increase revenues by upwards of 20%. Yet few have adopted this technology. As industry executives unanimously anticipate an economic slowdown, it begs the question: why aren’t US operators jumping on the cashless bandwagon?

By embracing the early adoption of cashless payments, casinos can position themselves to reap compounding benefits as consumer adoption ramps up. According to a report by the Pew Charitable Trusts, 56% of US adults have made a mobile payment in the past year. Many of these users are younger, proving the power of mobile payments to appeal to new generations of customers.Operators are hesitant to adopt cashless payments due to the perceived complexity and challenges associated with it. However, this doesn’t have to be the case. The most intuitive approach is to work with your existing payment partner to expand upon your current payment capabilities.

By upgrading your existing payment technology, your casino will reduce the need for additional labour to manage cash, strengthen your security and eliminate costly infrastructure upgrades that come with the outdated technology of Casino Management Systems (CMS). Regulators can also reap the benefits of cashless payments by gaining easy access to patrons’ gambling habits and know your customer-type information. With the adoption of cashless payments, casinos are seeing new waves of consumers that are attracted to gambling with the same technology they use in their everyday lives. These patrons can enjoy easy, uninterrupted playing without having to get up from their seat or worry about running out of cash.

Integrating mobile payment technology throughout your property also enables players to shop at retail outlets, entertainment venues and even tip staff via their mobile wallet. The result is a completely traceable, seamless payment ecosystem that delivers an excellent experience while maximising operator revenue.

Making Mobile Easy For Everyone

Enabling cashless payments can be challenging – antiquated technology infrastructure and expensive upgrades present often insurmountable barriers to adoption. However, going mobile doesn’t have to be operationally traumatic. Casinos can leverage the payment devices they already have to offer mobile payments. By upgrading an existing SC Advance banknote validator with a Bluetooth module, operators can turn on cashless payments without the operational overhaul required by alternative methods.

The SC Advance operates in conjunction with Global Payments’ VIP Mobility app to allow customers using slot machines to pay directly from their phone’s mobile wallet. VIP Mobility enables guests to create digital TITO tickets and pair their device to a machine via a QR code, offering a seamless way for patrons to play and manage their funds from their phone.

Built For Whatever Lies Ahead

Cashless payments benefit all parties involved in the casino industry, including consumers, operators and regulators. As the industry advances, regulations will continue to evolve, favouring consumer preferences, operator requirements and technologies that effectively address responsible gaming and know your customer best practices. In thinking about cashless technologies, operators should choose partners that are able to adopt for the long term, with technologies that can adapt to whatever form “cashless” takes in the future. Just as TITO is now complemented by mobile wallets, the future of cashless may take many forms.

CPI solutions are built to not only be your cash payment enabler, but the central hub of everything payment -related in your casino. Whichever payment method emerges as the future of gaming – whether cash, cashless or card – the SC Advance is equipped to handle it.