Cashless Casinos 'More Hype than Reality'
Despite increasing discussions around the prospect of ‘cashless society’, the truth is typically more nuanced, with many countries seeing continued cash use alongside adoption of other technologies. Tracey Chernay, Senior Vice President of TransAct Technologies, has revealed this is also true in the casino business.
Speaking ahead of this month’s ASEAN Gaming Summit, Chernay—whose company provides tech and printing solutions for markets including casinos and gaming—said she is not convinced there is player demand for cashless gaming, which is serving as a barrier to its adoption even while the principle is being widely discussed.
I think this has been more technology talk versus players actually asking for cashless.
While Chernay believes cashless has a place in the gambling space, she points out players have many reasons for choosing cash—many of which apply equally to young and old players alike—with privacy being chief among them. Cashless transactions will create a digital trail of when, where and how money has been used, which she says will not appeal to players ‘who don’t want to be tracked, for whatever reason.’
Chernay also sees issues with consolidation of cashless technologies, with players potentially reluctant to download and manage an app for each and every casino they visit, especially if they are more casual and infrequent visitors.
Ultimately, Chernay sees cash and cashless systems ‘coexisting nicely’ going forward, with casinos letting players choose how they want to transact on any given day. In casinos—as in the wider world—everyone is a winner when they have a choice of payment options.