Opinion: Why you need an omni-channel approach ahead of real money regulation
Paymagnet founder Martin Glettler on how innovation in the payments space can help US casinos grow their omni-channel offer and prepare for more open online regulation
As the US continues its tortoise-like crawl towards a more open and regulated gaming market, it is important for providers to build the type of omni-channel infrastructure that will enable operators to fully capitalise on new opportunities as they arise.
Currently, much of the innovation in US gaming has been in New Jersey, where the regulated online market has performed solidly if not spectacularly.
However, there are some exciting developments in the land-based sector that could provide a serious boost for online gaming as and when more states regulate.
One area which is ripe for technological disruption is payments, where the industry is now in a position to offer customers a seamless experience by bringing online and mobile technologies to the casino floor.
The Nevada Gaming Control Board is currently deliberating on new regulation that could allow customers to sign up for funded account to wager on slots and table games in casinos, in much the same way they already can for sports betting and online poker.
Customers in Nevada are already allowed to place sports bets on mobile devices, so by linking the casino experience to playersâ mobile devices, we will be able to build the foundations of an omni-channel offer even within a tightly regulated market.
The latest payment innovations for operators are a world away from existing solutions. Take the example of near-field communication (NFC), an area where Paymagnet is providing a growing number of payment solutions to casino operators looking to boost their omni-channel capabilities.
Operators are now able to install cheap and easily integrated NFC tags on slot machines or table games that allows players to make deposits via with smartphone.
It supports contactless MasterCard and Visa payments through a simple app without the need for a POS system, infrastructure or wallet.
The benefits of this should be obvious in terms of retention, but it is also a way for operators to build a 360-degree view of their players and leverage this with online offers, whether they be real-money or social.
With the high regulatory standards demanded in the US, a move towards NFC-powered cashless deposits will also allow operators to keep a closer eye on irregular behaviour and reassure authorities that they can meet requirement even when taking larger parts of operations online.
As we have seen in New Jersey, the online market in the US will likely be dominated by those with pre-existing and strong land-based presences. Finding ways to create online relationships with players within regulatory frameworks will be key to long-term success, and the payments sphere offers precisely this opportunity.
NFC has the potential to completely revolutionise the way the casino industry processes payments, and its implications stretch beyond the casino floor. As the broader retail sector increasingly moves towards mobile and cashless payment methods, it is critical that gaming keeps pace.
A growing number of operators and providers are waking up to the opportunity. Weâve recently agreed major omni-channel deals with Mediatech Solutions and Evona, and walking around G2E this week, it is clear the appetite for omni-channel payment solutions is vast.
Payments must be at the heart of any omni-channel offer, and even as regulation continues to drag in a number of states, it is time for operators to begin building a viable infrastructure.