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The Development of Cashless Apps and Their Effect on the Gaming & Amusements Industry

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The Development of Cashless Apps and Their Effect on the Gaming & Amusements IndustryReading Time: 3 minutes

 

As gaming continues to evolve and explore digital channels, new cashless apps are being developed to support the needs of the changing gaming industry landscape and provide a more seamless customer experience. But, what impact will this have on players and operators? We explore the growing demand, how it’s being met, and the potential outcomes.

The Growing Demand for Cashless Payment Options

Though cash is still very much prevalent in the gaming industry and society in general, it’s noticeably becoming less accessible. Across the UK, around 300 cash machines are closing down each month because they are no longer profitable.

Recent research from Paysafe highlights the changing nature of payment methods. Their data shows consumers are increasingly using digital payment methods over more traditional methods. For instance, 50% of their survey respondents used a digital wallet for online purchases, more than credit or debit cards. Paysafe also conclude that “the ease of mobile payments will no doubt continue to pave the way for new and exciting payment innovations to succeed.”

With fewer cash machines and the reduced need for cash, consumers have come to expect cashless payment options more and more. So, when a business does not accept cashless options, customers are likely to take their business elsewhere. BCG research reinforces this, and shows that cash intensive economies tend to grow slowly and miss out financially, whereas those that switch to digital are far more successful. By switching to digital, annual GDP can rise as much as 3%.

Therefore, when it comes to gaming and amusements monetisation, there is growing opportunity to meet the needs of consumers demanding cashless methods. Being able to accept payments seamlessly can be provide a number of benefits for both gamers and operators alike.

Meeting the Demand: Gaming & Amusements

To meet the growing demand for cashless payment options, Bacta’s National Council has recently endorsed a development budget to bring a cashless app to the gaming and amusements market before the end of 2019.

This system in particular is made up of an app which utilises Near Field Communication to transfer money from a player’s digital wallet to the gaming machine. Winnings will then be returned to the phone. The payment system architecture is said to be highly secure with end to end encryption, and the future in the industry is looking positive:

Bacta’s President, James Miller stated:

Thanks to Greg Wood and other members of his committee, we have negotiated a great deal on terms that are highly competitive and which secure the interests of the membership in both gaming and amusements for the long-term.”

How Might Cashless Apps Impact Gambling?

Today’s developments in cashless payment technology were not foreseen when the Gambling Act 2005 was put together. However, as a general rule the Gambling Commission state they “are supportive of innovation, provided the way in which it is done is consistent with the licensing objectives”. The legislation does permit operators to make cashless forms of payment available.

The Impact of Cashless Apps on Gamers and Operators

There are many benefits that come along with the development of cashless apps for gaming and amusements – none more so than it is creating a positive user experience for gamers. Though its name may be ‘cashless’, it doesn’t necessarily mean cash cannot be used. It simply opens up a variety of payment options for the user. This means they have a more flexible, seamless experience, whether they wish to use a digital wallet or not, the choice is theirs.

When customers have more choice, customer loyalty is likely to increase. An uninterrupted, secure experience is likely to encourage them to engage with a game and return to play in future. It also offers a competitive edge to the operators who are willing to adapt to change. It will therefore be interesting to see what is next for cashless app development in the gaming and amusements industry, as well as how it changes gamers’ overall experience.

The article was produced in collaboration with TVC Leisure, a leading supplier of gaming and amusement machines.


Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: The Development of Cashless Apps and Their Effect on the Gaming & Amusements Industry

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Adda52.com Launches its Second Brand Campaign with Chris Gayle

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Adda52.com Launches its Second Brand Campaign with Chris GayleReading Time: 1 minute

 

Poker site Adda52.com has launched its second brand campaign with brand ambassador Chris Gayle. Chris Gayle plays the role of the brand’s voice to deliver the campaign’s message.

This campaign comprises two advertisements which are developed in continuation of the brand thought #BanaoDimaagKoAmeer. In both the ads, the protagonist is shown as a regular poker player who achieves glories in life because of the skill set he develops by playing poker on Adda52.com. The campaign goes live on digital and OOH platforms.

“Poker has always been considered as an opportunity for winning prizes, but as a market leader in the online poker category, Adda52.com wants to spread awareness about the game and take forward its brand thought #BanaoDimaagKoAmeer. Through the two videos, we want to highlight that poker is not just a game but a value addition to one’s life. It is a game of skill that is played with real people on our platform. Poker is a game which stimulates the mind, helps one take quick decisions, pushes one to be calm and patient to perform well in the game. These aspects also get reflected in their life; thus, the game is indirectly improving one’s life skills. With 2 Million+ registered users, we want to continue to claim the market leader position of being the largest in the country,” Naveen Goyal, CEO of Adda52.com said.


Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Adda52.com Launches its Second Brand Campaign with Chris Gayle

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Codere and Play´n GO sign Global agreement

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Codere and Play´n GO sign Global agreementReading Time: 1 minute

 

Spanish multinational operator Codere today announced their latest partnership with leading slot supplier Play’n GO.

The two companies have signed a global agreement allowing Codere to offer Play’n GO’s extensive library of online slot games in all regulated markets where both have a presence. The first game launches will take place in key markets such as Mexico and Colombia, followed by a second phase of release around Latin America and Europe.

Salo Leder, Digital Operations Manager at Codere, spoke about the new partnership:  “We have a very ambitious growth plan, and it is vital to be able to count on high-performance, creative content such as that offered by Play´n GO. In Play´n GO we see a content provider that has invested in being fully certified in each regulated market they enter into, and this facilitates a more fluid and joint expansion into new territories, as they open up. “

Johan Törnqvist, CEO of Play´n GO commented: “Codere is a very innovative company that seeks to grow in both mature and emerging markets, and Latin America is a priority for them. Their ambitions and vision match our own, making them a great partner to build a global relationship with. We are very excited to start this partnership and share our games with all the loyal players that Codere has in the region.”


Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Codere and Play´n GO sign Global agreement

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Promatic and Chałas & Partners Enter Into Strategic Cooperation

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Promatic and Chałas & Partners Enter Into Strategic CooperationReading Time: 1 minute

 

The Promatic Group and the Chałas & Partners group has announced a strategic cooperation in mutual support and business development on the entertainment market in Poland and selected locations around the world.

Promatic is a leading Polish producer of software and devices for the gambling industry. Chałas & Partners Investment Group focuses on the gambling, sports, real estate, legal and financial markets.

“Establishing cooperation with one of the largest and most innovative Polish capital groups in the field of gambling is a great distinction for us. It is a milestone in achieving business synergies in ongoing investment projects and seeking market advantages in order to permanently strengthen our position,” Jarosław Chałas, Manager of the Chałas & Partners Investment Group said.

“Cooperation with such an experienced and competent investment group enables expansion into new segments of the entertainment market in Poland and in the world. The Promatic Group is constantly looking for attractive business areas to develop. Together, we are reviewing strategic investment options to strengthen our position as a key Polish player on the market,” Paweł Paliwoda, CEO of Promatic Group said.


Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Promatic and Chałas & Partners Enter Into Strategic Cooperation

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