For years, the gaming industry has explored the idea of cashless payments. However, increasing consumer expectations and the global pandemic shifted cashless payments from an opportunity to meet patrons’ evolving preferences to a necessity. According to the American Gaming Association, 59% of past-year casino visitors are less likely to use cash daily because of the global pandemic. This preference translates to patron preferences on the casino floor, with more than half of surveyors (54%) indicating that they would likely utilize a digital or contactless payment option when they gamble. However, this evolution challenges an industry that is highly regulated and still heavily reliant upon cash.
As an industry leader, Pavilion Payments has made great strides in developing cashless solutions to enhance the gaming experience for patrons. Pavilion Payments’ VIP Mobility™ is the industry’s first mobile solution enabling true cashless gaming from funding through cash-out. The solution delivers hardened bank-grade security to casinos’ complex gaming environments while equipping patrons with a seamless and secure payment experience. VIP Mobility is built on the decades-old industry standard for check cashing, Pavilion Payments’ VIP Preferred® e-check network. By harnessing the flexibility and ease of Pavilion Payments’ groundbreaking VIP Preferred account network, plus functions like eCheck and Choice 4™ deferred settlement, patrons can directly transfer funds from their VIP Preferred balance to their favorite game.
Additionally, VIP Mobility solves several challenges experienced with cash-based gambling for casinos. First, maintaining and updating the gaming environment has traditionally been expensive and cumbersome for operators. By embracing system-agnostic solutions, like VIP Mobility, casinos can tap the flexibility needed to offer digital alternatives to traditional forms of wagering. Not only does VIP Mobility empower casinos to reduce their operating costs, but it enables them to overcome the limited capabilities of legacy technology to establish an authentic, consumer-centric approach on the floor.
In today’s market, there is an enormous opportunity for casinos to leverage cashless solutions to deliver the alternative, cashless experience that many guests now prefer. Casino operators should strive to implement cashless, contactless solutions that create an engaging experience for patrons as cash usage continues to decline.
VIP Mobility is a part of our vertically integrated suite of solutions that create an enhanced gaming experience at the cage, on the casino floor, and online. More than 3.5 million patrons rely on Pavilion Payments’ solutions for simple, safe, and responsible play.
Click here to learn more about how Pavilion Payments is putting cashless payments into play, or visit our Resource Center.