FEATURES
THE FUTURE OF CASH
IS CASH LOSING ITS CROWN? Representatives from Everi Holdings, Trustly and Global Payments Inc, who all specialise in providing payment solutions to the gambling industry, spoke with Owain Flanders about the effects of the COVID-19 pandemic on the progression of cashless gaming
THE PANEL Michael Rumbolz President and CEO, Everi Holdings Sam Barrett Director of gaming, Trustly Chris Justice President, Global Payments Inc
Have you noticed an increased interest in your cashless systems as a result of the COVID-19 pandemic? Michael Rumbolz: With the pandemic, our customers have been focused on their reopening strategies which focus on the health and safety of their guests and employees. This has driven demand for the deployment of cashless solutions. We have been working with many customers to deploy our solutions for reopenings. Chris Justice: A March 2020 survey by RTi Research indicated 29% of consumers are worried about catching the virus from cash, while 30% have converted to contactless forms of payment. Consumers feel increasingly uncomfortable exchanging cash which will impact when, where and how often they play casino games. Our solutions promote a socially distance and contactless gaming environment that brings peace of mind to customers and operators. Sam Barrett: Before the pandemic, cashless was on the radar of most land-based gaming businesses, mainly for the simple reason that going cashless or contactless was an organic way forward to improve payments within the land-based gaming environment. I wouldn’t say COVID-19 has been the catalyst towards going cashless but it has accelerated because businesses want to protect their staff and players from potential viruses being carried on cash. It certainly has given it a stronger priority, allowing businesses like Trustly to cater towards this cashless appetite. Are you in a position to meet the increased demand for cashless gaming?
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Michael Rumbolz MR: We have evangelised the benefits of cashless gaming for the past three to four years. We see ourselves as the leader in the market from a financial technology standpoint and strongly believe that we are in the driver’s seat moving forward with any type of cashless gaming within the casino floor. CJ: Yes, we are. Our VIP Mobility and VIP Financial Center solutions are ready to meet the need accelerated by the COVID-19 pandemic. While true that our industry did not anticipate the increased demand for cashless gaming so soon, signs have been pointing to cashless gaming for some time now.
