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Payments organisations, networks, and financial institutions have put numerous processes and


procedures in place in order to protect each one of us in our


How complex is transitioning between the regulations for payments and gaming?


Very. As you would expect, vendors and operators in gaming are working tirelessly to address the regulatory challenges occurring within the industry. As such, most cashless providers have returned to using wagering accounts that have been around for 20 years. Te part many fail to recognise is when you start exploiting or leveraging this old system, you are also subject to a number of unique requirements.


A lot of organisations have opted to leverage the wagering account not fully understanding the additional regulatory requirements they have to adhere to. Tis creates a significant set of challenges and is why we felt that leveraging the TITO system is a better way to go. Te system and infrastructure are already operational for the casino, requiring them to do nothing additional to maintain compliance.


Another issue from a rules and regulations perspective is the fact Apple Pay and Google Wallet are driven by the rules of their App stores. Gaming is a prohibited use case by both


P28 NEWSWIRE / INTERACTIVE / MARKET DATA


identities and payment account information. The path many are


currently going down is starting to strip away all of these protections put in place over the years and to enable more streamlined access to consumers financial accounts. This creates significant opportunities for fraud to be conducted via the gaming environment.


of these companies, yet some vendors claim to have a solution to enable Apple Pay. Tis is not possible in today’s environment. Every prohibited use case and improper coding of a transaction violates payment rules and regulations, resulting in a compliance charge back.


If and when found out of compliance on any of these processes, the operator loses the charge back and the money that's been transmitted, as


well as any of the fees already paid. Te ramifications of not doing payments well in this environment are significant.


Te last aspect often forgotten concerns data and consumer security. Payments organisations, networks, and financial institutions have put numerous processes and procedures in place in order to protect each one of us in our identities and payment account information. Te path many are currently going down is starting to strip away all of these protections put in place over the years and to enable more streamlined access to consumers financial accounts. Tis creates significant opportunities for fraud to be conducted via the gaming environment.


For example, your debit card has a chip on it. In order to access it, you use a pin number that you have selected. Tis pin number is encrypted within the chip itself and across any device you use to make sure that information cannot be intercepted. Te chip authenticates the card which authenticates you as a consumer. Subsequently, anywhere you enter the pin is protected through encryption, as well as the little hand barrier you create so somebody can't look over your shoulder.


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