The quicksilver pace of the gaming industry over the last three years has been astonishing. In 2022, the industry generated record revenue of $53 billion, breaking the mark set in 2019 by 21 percent. The record revenue came one year after many brick-and-mortar casinos were temporarily shuttered in 2020 due to the pandemic.
As revenue increases, gaming operators are increasingly exploring how cashless payment systems can be integrated in casinos.
“In today’s market, there is a tremendous opportunity for casinos to leverage new technology to provide the cashless, contactless, gaming experience that many patrons now prefer,” says Christopher Justice, president of Global Payments Gaming Solutions. “A vertically integrated suite of solutions doesn’t require an overhaul of a casino’s existing infrastructure, creating an effortless transition to cashless gaming. Global Payments provides not only the technology, but also the industry expertise to enable operators to deliver an enhanced gaming experience to patrons.”
Based in Las Vegas, with more than 20 years of experience in the gaming industry (and 60 years total), Global Payments Gaming Solutions has assisted over 400 locations to create safe experiences for customers. Its complete commerce ecosystem, which satisfies every facet of cashless payment experiences for consumers, will be featured at the NIGA Tradeshow in Anaheim, California, April 19-22.
Customers have grown used to mobile-based consumer experiences in both physical and digital spaces, whether paying for groceries at a supermarket or downloading music files or e-books. Global Payments’ vertical suite of solutions provides customers with seamless payment solutions that are fine-tuned to meet gaming industry needs.
“To remain competitive and adapt to the changing nature of how consumers want to do business, Global Payments has enhanced our vertically integrated suite of solutions to provide a seamless payment experience to casino guests beyond the gaming floor,” Justice says.
The suite features VIP Mobility and VIP Financial Center, both powered by VIP Preferred, Global Payments’ industry standard e-check and ACH network. The systems work in tandem to ensure frictionless, safe payments for patrons, and can be used to pay for all transactions at casino resorts.
“With VIP Mobility, guests can use a single account to fund their resort experience, including hotel, restaurant, and casino transactions,” Justice says. “Additionally, VIP Financial Center provides guests with a single-source solution for cash access on the casino floor. Both solutions leverage bank-grade security to ensure each transaction made throughout the casino property is secure.”
The need for safe, frictionless, cashless, payment systems will only grow as the gaming industry evolves. Sports betting is now legal and available in 30 states and the District Columbia, and online gaming in six states. Reports from the two centers of gambling in the United States are positive: Visitors are flocking back to Las Vegas and revenue in Atlantic City increased in early 2022.
These factors indicate a robust market and numerous opportunities for tech companies. Global Payments is not only well positioned to take advantage of emerging developments in the gaming industry, but has already received “positive responses about our entire product suite,” Justice says, adding that VIP Mobility and VIP Financial Center “seem to mesh best with the needs of gaming operators and patrons.
“VIP Mobility is the industry’s first mobile solution enabling true cashless gaming from funding through cash-out,” he says. “By harnessing the flexibility and ease of Global Payments’ groundbreaking VIP Preferred account network, patrons can effortlessly transfer funds to their favorite online or casino game and from one operator to the next.”
VIP Mobility also delivers “bank-grade” security to its gaming-industry clients and doesn’t require additional technology certifications on casino floors.
VIP Mobility operates in tandem with the VIP Financial Center, the industry’s first full-service solution providing convenient self-service TITO tickets, bill-breaking, e-check, ATM, and cash-advance capabilities for casino guests who prefer to use cash. Offering robust service capability, high dependability, easy serviceability, and enhanced security in a slim profile design, it enables casinos to achieve maximum value for the floor space occupied by their kiosk solution, saving more room for revenue-producing slot machines or table games.
At NIGA, Global Payments will feature its suite of products, and introduce some new and enhanced items at Booth 748. Notably, PlayerCash @dvantage and Choice4 will be featured.
PlayerCash @advantage is a credit- and debit-card cash advance solution. The industry’s only single-source solution, PlayerCash @advantage is available through Global Payments’ VIP Lightspeed ® platform and enables casinos to securely access all major credit and debit card networks.
“More than 400 North American casinos have selected us for cash advance,” Justice says.
Choice4 is the company’s delayed settlement e-check product enabling patrons to put more cash into play by extending settlement to 7, 14, 21 or 28 days. Choice4 seamlessly integrates into VIP Preferred and equips operators with the latest technology to deliver an enhanced gaming experience to patrons who prefer a cash or cashless experience.
