A recent AARP study found smartphone use by older American consumers was at 77 percent , so the survival of cash as an option isn ’ t purely driven by a stereotype of most older Americans supposedly being unable to “ go cashless .”
“ When 41 percent of Americans don ’ t use cash in a given week and 58 percent of previous-year casino visitors want to use digital payment options , it is important that we give our customers the option to pay how they want .”
— Jonathan Michaels , Senior Vice President , Sightline Payments transaction .”
Marker Trax President Charlie Skinner adds , “ Just as cashless technology hasn ’ t eliminated cash transactions from other industries , removing cash from the gaming environment isn ’ t an inevitability .
“ It ’ s impossible to pinpoint when cashless becomes the most popular type of transaction in gaming , whether we ’ re talking about funding an account or actually playing games . But consumers have come to rely on cashless options in nearly every other facet of their lives , and the drumbeat is getting louder : ‘ When will I have that same flexibility in gaming ?’
“ Two things have been true about our industry over the years : Change is inevitable , but it is also deliberate . Operators have been enthusiastically embracing technology , fully understanding the efficiencies that cashless solutions encourage in their businesses . These factors continue to make ( cashless gaming innovations ) a matter of ‘ not if , but when .’”
Skinner underscores the point made by others that older customers need not be concerned about being “ phased out ” in terms of payment options such as cash . “ The most important thing to point out is that our industry has never shrunk in focusing on some customers to the exclusion of others ,” he says . “ It has always grown to embrace more preferences — and that trend will continue with cashless .”
Justice , who describes his company as “ the largest fully integrated payment provider in the entertainment and gaming industry ,” says Pavilion Gaming ’ s VIP Mobility feature enables patrons to complete all transactions on their mobile devices . Meanwhile , Pavilion ’ s e-check network VIP Preferred directly connects the customer ’ s wagering account to their bank account .
Pavilion ’ s VIP Financial Center is a kiosk located on the casino floor that can provide self-service ticket redemption , bill breaking , e-check , ATM , and cash advance options for casino guests , decreasing the amount of time customers wait in line at the cage .
Kubajak says a recent AARP study found smartphone use by older American consumers was at 77 percent , so the survival of cash as an option isn ’ t purely driven by a stereotype of most older Americans supposedly being unable to “ go cashless .”
Instead , advances in cashless gaming are supplementing cash for all age groups . “ Cashless payments and digital wallets will continue to evolve , and
we can expect them to become more user-friendly and provide easier ways to sign up — within the confines of each jurisdiction ’ s regulations , of course ,” Kubajak says .
Omnichannel ’ s the Goal
Webb says he believes that for younger gamblers , most are finding access to payment types they prefer .
“ One payment platform might offer PayPal and Venmo , while another offers debit and ACH ,” Webb says . “ In a perfect world , would all platforms offer every tender type ? Of course . And that ’ s what PayNearMe and its MoneyLine platform aim to achieve . We already offer cards , ACH , PayPal , Venmo , ApplePay , and even cash payments within the digital space , and there ’ s more to come that will be attractive to the younger generation .
“ PayNearMe has historically been bringing cash payments into the digital space by allowing deposits and withdrawals to be done in cash for iGaming and online sports betting platforms ,” Webb says . “ That crossover between brick-and-mortar and digital payments — the ‘ omnichannel payment experience ’— is really what operators need to be looking at . Bridging the gap to allow everyone to pay and withdraw is how to capitalize on the growing market of players .”
Michaels also brings up the word “ omnichannel ,” saying “ it is on the minds of every operator we speak with . Omnichannel is the reality that we live our lives in between something that is physical and something that is digital .”
Justice describes young adult gamblers as “ digital natives ”— hence the industry ’ s extensive efforts to offer cashless payments for the growing revenue streams of iGaming and online sports betting .
“ Casino operators , whether they are land-based or online , want to be involved in this growth ,” Justice says .
Sightline ’ s Michaels stresses that it will be a long time , if ever , before innovation in cashless gaming is complete . “ There is always more work to be done to deliver a great customer experience ,” Michael says . “ Just look at how long it has taken ApplePay , which was initially launched in 2014 and really only has taken hold in the last few years .”
Sightline ’ s Play + system , Michaels says , features funds being held in
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