Following a sense of “frustration” felt around the integration of cashless payments solutions in Tribal gaming, multiple payments leaders took part in a panel at the IGA Tradeshow & Convention to address the future of cashless solutions.
Trustly Payments Director of Gaming Darren White stated Tribal operators need to “crawl, walk and run” with cashless payments solutions in order to find what works best for respective properties.
Everi SVP of Product Management and Payments Solutions Victor Newsom added that there is a “fundamental disconnect” between creating cashless solutions and finding an interest from operators.
“There’s not one magic bullet, there’s not a single solution. Cash is always going to be around,” Newsom said.
“I have different people who want different things. You need multiple tools in your toolkit to adapt these solutions to your customer. You need to meet them where they’re at rather than force them to change.”
White also commented on how the “friction points” which stem from integrating cashless payment solutions into Tribal casinos include customer identity and the onboarding process.
Aristocrat Interactive VP of Product Management for Gaming Systems Ted Keenan added that even while suppliers can offer tools which help operators in customer identification, it is still a “very painful process” at times that requires a trial and error period.
Newsom stated that a potential solution to easing the path of integration could be working, or even “partnering,” with regulators to ensure identification and verification processes are simplified for operators.
The panelists also spoke on a recent decision from Resorts World Las Vegas to suspend its accepted cashless payments methods, described as a “minor blow” to the future of automatic payments in casinos.
Keenan confirmed the adoption rate of cashless payments “hasn’t been great,” but believes working with consumers and operators could assist suppliers in finding ways to “create less friction” with the offering.
Despite the optimism shown from panelists, it appears as if cashless payments still have a long way to go before realizing its potential in Tribal casinos, as the challenges faced in identification and customer verification represent tall regulatory hurdles for suppliers.
Perhaps, as Newsom stated, the path forward is working directly with regulators and operators to smooth the integration process, but the decision made by Resorts World Las Vegas could represent a sign of what’s to come in gaming.
Merkur Group completed the rollout of a new cashless gaming solution at Merkur Spielbank Wolfsburg on February 3, marking another stage in the ongoing modernization of its casino operations in Lower Saxony
