Increased caution about the handling of cash and its (as yet unproven) ability to spread COVID-19, has accelerated the transition from cash to digital payments.
So where does this leave gaming? Given that cash is needed to start playing an EGM, cash handling is still a large part of any gaming venue’s operation.
Digital gaming has long been a hot topic in the industry. At a recent RSL & Services Club webinar –Cashless or Digital Wallet Gaming – where to now?, some of the industry’s experts presented their organisations view on the future of digital gaming and what the regulator is doing to help the industry explore the options.
There is no doubt COVID-19 has accelerated the discussions and the industry stakeholders have come together to explore the challenges of implementing digital gaming. Collaborative work with the regulators, manufacturers and system suppliers is expected to commence soon in a sand box environment where a range of digital options will be trialled.
Alan Townsend spoke on behalf of UTOPIA Gaming Systems (the owner of the Global Gaming System and Banktech Subsidiary). “While cash may be declining it will be around for many years to come,” according to Alan.
“The transition from cash to digital gaming maybe inevitable however the pace at which that change occurs is the challenge. For digital gaming to be widely adopted, it will need to mirror many of the attributes of cash including interoperability, reliability, anonymity and security”.
UTOPIA have been working behind the scenes to be ready for the shift towards digital gaming. “We have been re-designing our Global Gaming System to ensure we are ready to address the challenges of running both cash and digital payments with the venue.
Venues have a lot to think about if they are going to get this right says Alan. Apart from user acceptance, ensuring the digital wallets works seamlessly across all devices within the venue as well as moving funds in and out of the wallet and bank accounts present significant challenges.
“Fortunately, UTOPIA is as a member of the Banktech Group, so we are well placed in terms of integrating gaming systems, devices and payments to help venues deliver a holistic approach” says Townsend.
Banktech Group’s 100% owned subsidiary EFTEX processes more than $15bn in ATM and POS payments annually. It is a member of eftpos Australia and holds an ESA with the Reserve Bank of Australia.
EFTEX is a great partner for our venues. EFTEX has 20 years’ experience driving devices for Banktech in hotels and clubs and fully understands the environment.
So should venues be preparing now for Digital gaming? According to Alan, the answer is a cautious yes. “I think venues need to be thinking about who they are going to partner with and can help you deliver a full end to end solution”.
For more information contact Alan Townsend at Utopia Gaming Systems on 1800 200 201 or click here.