The gaming industry has experienced significant growth over the past several years, with sports betting leading the way, followed not surprisingly by the igaming sector, which grew by just under 23 percent year-over-year in 2023, according to the most recent data from the American Gaming Association.
There has never been a better time for igaming operators to reach out to Pavilion Payments, the largest vertically integrated payments provider in the gaming industry. The company has developed a suite of tools to help iGaming operators provide a modern payments experience.
Steve Ritchie, Pavilion Payments’ Chief Revenue Officer, explained it this way: “Pavilion Payments’ technology creates a fast and simple payments process for patrons and operators alike. Many of its solutions are designed for both iGaming and in-person gaming transactions.”
The customer experience created by Pavilion Payments to assist their clients to capitalize on the emerging opportunities for digital gaming include solutions for every emerging vertical, instant payments for withdrawals, online bank enrollment, and robust functionality with a simplified integration.
“By adopting a vertically integrated, end-to-end strategy, Pavilion Payments develops and implements technology for every step of the payments process and every kind of gaming institution, be they brick-and-mortar or online casinos,” Ritchie said.
Ritchie emphasized that vertically integrated solutions are a clear competitive advantage for operators while also creating an elevated patron experience. Through complete ownership there is no disconnect among operators, patrons, and technology.
ACH network, VIP Preferred, e-check network from Pavilion Payments, is the industry standard through which patrons can use online banking credentials to create their accounts, making funds more accessible while ensuring patron information is safe and secure.
The technologies give the capability to millions of registered users to connect their checking account to more than 400 in-person and online gaming institutions.
“VIP Preferred offers the most seamless payments experience in the gaming industry,” Ritchie said. “It comes complete with Pavilion Payments’ bank-grade security and 24/7 local customer service. VIP Preferred also offers online bank credentialing for an enhanced enrollment process.”
Entry is facilitated for both online and in-person patrons. They are only required to log in with their online banking information to enroll. VIP Preferred enables Pavilion Payments’ other in-person gaming solutions like VIP Mobility and VIP Financial Center. It is also an igaming payments solution in its own right.
Pavilion Payments’ newest igaming solution is VIP Online Banking. The technology builds upon its previous online gaming solutions for an enhanced payments experience, which, according to Ritchie, allows patrons to connect up to four checking accounts to a single VIP Online account while also offering higher limits based on the patron’s account balance.
“Gaming operators can implement VIP Online on its own or alongside VIP Preferred, giving patrons ultimate control over their spending,” he added.
The 360-degree integrated approach is a commitment Pavilion Payments stands by to lower the barrier entry for traditional brick-and-mortar gaming operators to deliver igaming offerings.
“VIP Preferred is designed for both in-person and online gaming institutions, which simplifies the payments process and allows for easier omnichannel implementation,” Ritchie explained. “Thus, brick-and-mortar gaming operators using VIP Preferred already have the payments infrastructure necessary to run their own iGaming operations.
“Additionally, VIP Online, as an exclusively igaming payments platform, allows gaming institutions to hyper-focus on the online gaming experience. Pavilion Payments’ solutions make it easier than ever for in-person gaming institutions to break into the fast-growing igaming sector.”
Ritchie acknowledged that a casino’s payments process can make or break the overall patron experience. A simple and straightforward payments process, he maintains, leaves a good impression with patrons.
A cumbersome payments process, on the other hand, serves to frustrate patrons and makes it more likely they will take their business elsewhere in the future, he cautioned, adding “A siloed, fractured payments process with many different providers along the way often creates this effect”.
The cost effectiveness combined with the speed and simplicity of the entire process gives operators complete ownership over the payment process while allowing for cohesive and frictionless patron support.
“In a fully vertically integrated payments process like Pavilion Payments, patrons only deal with one provider for the entire process,” Ritchie said. “This streamlined approach decreases the chances of any problems occurring throughout the payments process and makes it easier for customer service to intervene.”
Pavilion Payments’ solution, Ritchie went on to explain, mitigates the potential for error during the payments process and makes it easier for the gaming institution or Pavilion Payments to step in if an issue does occur.
“It also creates a better user experience for the individual patrons,” he added. “Instead of having to remember half a dozen usernames and passwords, VIP Preferred users only need one set of user information.”
It all comes down to the fact casino patrons, whether in person or online, appreciate a simplified payments experience and reward those gaming institutions with their continued business.
“By investing in igaming solutions like Pavilion Payments, gaming institutions can set themselves up for success in the future as the igaming space continues to grow and evolve,” Ritchie maintains. “Ultimately, Pavilion Payments’ vertically integrated strategy improves the end user experience and drives patron loyalty.”
