With the landmark decision by the Nevada Gaming Commission to allow changes to regulations surrounding the electronic transfer of money to games and gaming devices, the gaming industry has reached a pivotal payment moment. In a space that has long been dominated by cash, how can operators prepare for the digital shift?
While operators accommodate new payment methods, they should seek modular solutions that connect directly to machines to enable mobile or app-based payments, without having to replace the existing payment system. Focus on using existing peripherals with established protocols and regulatory approvals to quickly and economically enable these new payment methods.
This transition will be as striking for players as it will be for casino operators. Operators and customer retention managers should take proactive steps to make sure their best players are aware of this new layer of flexibility. Whether through direct customer communications (text or email alerts) or existing digital media platforms, operators can alert customers to their new payment options and ensure that they’re using them correctly. This is also a good opportunity to check in with customers about responsible gaming.
Cashless payment is laden with rules and regulations when it comes to functionality and acceptance. For the gaming industry, it should be a top of mind priority for operators to have a keen attention to regulations surrounding ePayment. That being said, no one expects casino operators to be experts in the ever-changing world of payment regulations. Operators should ensure that their suppliers are in touch with payment requirements, have dedicated support teams, and work to keep their devices up to date and their customers educated.
In an effort to keep customers happy, operators should continue to support cash, which will undoubtedly track as a preferred payment method across the industry.
As we look to the new world of gaming that at-machine, cashless payment will deliver, there are actionable steps you can take to prepare your casinos. CPI is here to help when you’re ready to step into the future of payment, whatever that looks like for your business.