The latest cashless solution from Koin will enable patrons to access Koin Pay at any participating casino.
“This completely changes the experience of a patron from both a gaming and retail payment standpoint,” said Maner Puyawan, a co-founder of Koin who took on the role of Chief Innovation Officer early this year. “It focuses on a single Koin payment solution that can be used not just with a particular property, but any property that accepts Koin – one account that allows you to go from one property to another and use the same convenient payment method.”
He likened the process to a player using a debit card, Apple Pay, Venmo, or billfold of cash at multiple locations. “The major difference is that there’s one Koin account they can use at multiple properties, but we’re collecting data from all the purchase events. That allows a property to come up with better ways to retain their customers.” For patrons, a digital payment method that funds all types of wagers and purchases at multiple properties is more convenient than having to deal with a separate wallet for each.
Koin, based in Las Vegas, was established in 2021 by Ellis Island Casino owner Gary Ellis, slot industry veteran Gary Larkin, and Puyawan, who has extensive experience in payment technology. The Koin solution allows for a variety of account-loading options, including bank transfers; debit and credit cards; direct deposit; mobile wallets such as PayPal, Venmo, Apple Pay, and Google Pay; international transfers; and loading cash at participating casinos or retailers. It gives operators a fully integrated cage, table game, and retail management system, while reducing processing charges.
Unlike some vendors, Koin prioritizes the consumer experience, Puyawan said. While Koin’s initial release was patterned after cashless transactions in the online and retail shopping world, the soon-to-be-released Version 2 reflects an extended study of casino patrons and their preferences, he explained. “We’re focused on understanding their needs and creating ways to minimize, if not remove, any pain points and make their experience frictionless and user friendly. We’re nurturing them to use our product on a long-term basis.”
Puyawan described the upcoming release as a major upgrade and said it will be featured in Koin’s display at October’s Global Gaming Expo. “The most exciting thing is that we don’t stop there,” he continued. The company’s innovation team already is working on a successor, to be called Next Gen. The company plans to roll out Next Gen in three phases, with the first becoming available in the second quarter of 2025 and the third targeted for mid-2026.
He said the objective is for patrons to use Koin not only for gaming but also at a resort’s retail outlets and entertainment events. “Then it becomes part of their day-to-day spending activities,” Puyawan said. Consumers already can use Koin’s debit card at gas stations, supermarkets, and other retail outlets, but he said the company plans to add more experiences to increase usage.
The integration of artificial intelligence and other technologies also will advance Koin’s capabilities, Puyawan said. Using AI and real-time analytics will allow operators to personalize player rewards and help expand the lifetime value of their customers. Koin also developed a solution called Protect that watches for potential signs of problem gaming. In addition, the company is leading support of anonymous wagering, allowing players who wish to be uncarded to fund their gaming by scanning a QR code and launching a simple widget on their phone.
“It’s all about us being ahead of the game,” Puyawan said. “We’re always looking for creative ways of doing things and making things more efficient, both from a consumer standpoint and from a property standpoint.”
