Worldpay Gaming President Warren Tristram predicts that we will see a major shift towards digital wallets very soon Tristram took some time out to share his thoughts with our own Becky Liggero Fontana.
Tristram thinks that a shift in player demographics is forcing casinos to explore more options with digital wallets. Convenience will force a shift in payment preferences for the casino and gambling industry, he predicted:
“I think that firstly we’d all recognize that a younger customer demographic will more easily adapt to mobile and digital payments. I think they’re naturally more comfortable to do so and I think from a gaming perspective and we’re not necessarily looking to reinvent the wheel. We’re looking to incorporate proven solutions that consumers are already comfortable with today and interact as part of their normal daily lives.”
“I think the key thing that we’ve seen over the last nine months is that customers who might have previously rejected a new payment experience are more readily considering it spurred on by the push factor of COVID. I believe consumers are looking for convenience, security and expect a consistent payment experience underpinned by contactless technology and casino floors would be no different to cashless payments as they use in everyday retail environments,” he added.
Tristram went on further to explain that digital payments can help ensure that players have a responsible experience in casinos.
“Being able to digitize payments I think provides for a better and easier regulatory compliance so whether that’s anti-money laundering, KYC or whether that’s financial reporting. You know they lend themselves to responsible gambling with operators and banks being able to set the ability to offer spending limits and cooling-off periods. That’s a massive help to the industry, to help provide a better regulated environment,” Tristram said.
Watch the full interview to as Tristram explains the shift behind player payment preferences and the developments of new technology in the payment space. And if you haven’t yet, watch all of our videos as they go up by subscribing to the CalvinAyre.com YouTube channel.