Many of the underlying technologies people are hearing about are actually not that new. Tey are simply
becoming more visible as we work with regulators and get operators comfortable with them, while we also
work to disrupt attempts from bad actors. Real-time for convenience can mean real-time for abuse.
Everi A Multi-pronged Approach
The world of payments and money movement has undergone a significant shift over the past few years. Victor Newsom, SVP Product Management, Payments Solutions for Everi discusses the latest advancements in the payments space, from cashless gaming and tokenisation to real-time payments networks and modern security innovations.
VICTOR NEWSOM SVP Product Management, Payments Solutions, Everi
As you can expect, the retail and banking worlds continue to try to leverage technology to reduce risk and increase convenience. Often, these solutions either assume a bank-like “account to account” scenario, or a purchase transaction, such as a meal or goods (e.g. a TV). Te casino use-case is more of a hybrid between a retail use- case and a banking-centric expectation.
Many of the underlying technologies people are hearing about are actually not that new. Tey are simply becoming more visible as we work with regulators and get operators comfortable with them, while we also work to disrupt attempts from bad actors. Real-time for convenience can mean real-time for abuse.
Just as banks found when Zelle displaced person-to-person check payments – it also allowed for fraudsters to target consumer segments with telephone fraud replacing mail/check fraud in real time. Fortunately, we have deep expertise and technology investments that help Everi and its customers address the risks while delivering the convenience promised by these solutions, as they range from: Real Time Payments to Crypto currencies, to FedNow, and Push-to-Card with our Wallet, Bitline, B4U, QuikTicket, QuikTransfer, CashClub Concierge, and other products.
Gaming regulators are grappling with the challenge of balancing innovation with consumer protection, financial stability and playing catch-up with evolving technologies. How is Everi navigating the
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regulatory labyrinth across gaming sectors and geographies?
Tis is certainly a perennial challenge, but it must be addressed. As the initial stimulus of change from COVID has dissipated, we have seen a return to the “status-quo” approach in many regions. I would be remiss, though, if I did not also credit many regulators who have come to us at trade shows to learn more about technology. Still, the pace of change has slowed a bit. Te successful formula has been a partnership with the operators. Open and early engagement with the regulators and arm-in-arm with the operators has resulted in consistent progress in making the case for change.
I will also state that we face the same scrutiny from card schemes, financial institutions, and financial regulators when we are bringing their domain into gaming, so this collaborative approach is critical for success in both directions.
Additionally, Everi makes continued investments in licensing, technology, and – most importantly – people, in order to be able to develop, certify, and deploy solutions that deliver value in a compliant and high-performing manner.
By 2026, around 60 per cent of the world's population is predicted to use digital wallets. What more can be done to break down the cross-border barriers that restrict digital wallets and strengthen the global wallet ecosystem?
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