Cashless payment trends that will thrive in casinos

Welcome to the new era of casino operations – we look at emerging cashless payment trends in gaming with Crane Payment Innovations

W 32 NOVEMBER 2020

ith the tide changing in regulations and cashless making its way into the gaming infrastructure, operators and players have access to a world of new opportunities. The shift to cashless is not only meeting the

needs of today’s digital-first consumers, it’s bringing casinos up to speed with the technologies and payment systems that have become ubiquitous across other industries. So which cashless trends will be accelerated as gaming

payments go beyond greenbacks? Let’s take a look at what’s in the cards for cashless, and how casinos can benefit from these trends.

Trend #1: Harnessing Cashless Payments for Marketing

Digital advertising isn’t slowing down: by 2024, it is expected to account for a staggering 70% of the $314 billion advertising market. With its ability to precisely target and retarget consumers, the power and potential of digital advertising is enormous – especially when combined with cashless payment technology. Credit cards and digital payments give operators the opportunity to collect data and gather insights about their customers, allowing them to make more targeted marketing decisions in the future and be more efficient with their advertising spend. Likewise, innovations in cashless technology are also enabling

advertisers to directly connect with consumers, right at the point of sale. For example, cashless readers featuring large touchscreens and flexible user interfaces allow operators to serve

custom content to consumers as they wait for a transaction to complete. This capability is transforming digital marketing, turning payment devices into prime real estate for advertisers to deliver the right ads, to the right audience, at the right time. Why it works for casinos: From promotions tailored to a player’s game preferences to customized loyalty programs to geo-targeted advertising aimed at customers visiting your casino (or a competitor!), the digital marketing possibilities for casino operators are endless. And with the right cashless technology – and a solid media partner – operators can even offset their machine connectivity costs by receiving a portion of the advertising revenue generated by ads displayed on their devices. By analyzing the results of these ads, and which payment methods people are using the most, operators can gain valuable insights on their guests that can inform their digital media strategy in the future.

Trend #2: Customizing Loyalty Programs

The future of loyalty programs is digital. It’s not hard to see why: with more information about each consumer, brands are able to customize loyalty programs to their exact purchases, needs, and preferences. Loyalty programs are already in place in many cashless technologies – just think about credit card points and rewards, which have practically become a standalone industry. Furthermore, consumers are looking for their loyalty programs to go digital: in a study by Harvard Business Review, nearly half of surveyed consumers rated digital and omnichannel access as one of the most important features in their loyalty programs. The

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