March 25 2021

Can Casino Payment Tech sustain ATMs as Cash Use declines?

We need to find ways to manage the tricky balance between rapid digitization and those who still prefer using cash whenever they go out shopping or even for a fun night out in a land-based casino. Gamblers in Portugal prefer using cash when visiting casinos. However, players should remain sensible and aware of the importance of digitizing such transactions during the Covid-19 Pandemic. Casino payment methods need to include cash support as always, along with digital payments.

We all know that casinos accommodate cash in an environment that requires digital interaction. The same concept applies to ATMs near small businesses that can be beneficial for everyone. The main aim is to use a mobile phone as a contactless intermediary between cash deposits and digital payments. This growing approach is rapidly taking over financial and merchant services as well.

The author Victoria Oliveira shares her thoughts about future casino tech payment adoption and what that means to the ATMs we’ve always known.

The Era of Digitalization

The fact is that no matter how digitization sets up in casinos, gamblers will still use cash as much as possible, and it’s not likely its usage will decline suddenly. Cashless transactions were already around and growing at a steady pace. However, the aftermaths of COVID-19 and the growing tendency in contactless payment methods are moving digital payments forward faster than ever before.

Casino Tech has been improving daily to keep up with the latest trends in this area – no surprise there. Online mobile casino payment methods have been increasing as players take their gambling to the casino online universe rather than visit any of the land-based casinos available in Portugal.

With a growing appetite for online casino platforms, going cashless is a clear advantage over traditional casinos over an environment where gameplay is increasingly safer, cleaner, and more convenient. Players can benefit from the added safety wherein they don’t have to carry cash every time they go out, with the added benefit of accessing funds at any moment, anywhere.

With growing alternatives for casino payment methods, players ultimately benefit from making the best of their money by opting for the system that provides them with the best approach.

Digital Transactions and its Impact

Cashless gambling encourages healthier operational efficiency by reducing employee cash handling. It also adds safety and overall sanitation – a current concern – whilst minimizing security risks in casinos. Machine maintenance costs see a reduction, and cash handling errors drop substantially.

Operators can also leverage funding data to improve targeted marketing and promotions for their casinos. The list of gaming regulators is rapidly growing, and they recognize the inherent security, safety, and value that digital payments offer.

The earliest adopters in the casino gaming industry will understand that online casino mobile payment methods will place them in the best position to enjoy the increased liquidity and operational efficiencies delivered by this global cashless transformation.

Various options are emerging in the market. Before jumping into it, there are a few things to keep in mind before casinos go entirely cashless. There are multiple ways to offer players cashless transactions, even though casinos should still sustain ATMs for a while longer.

Payment Methods that Resist

Since not everyone is so keen on digital methods, there are still those that will rely on their traditional debit and credit card – in some cases, even pre-paid options to ensure better money management.

By easily withdrawing money from an ATM at the casino, it’s far more convenient to make a withdrawal through that system rather than carrying hard cash along all the time. Recent technology allows players to transfer funds between slot machines and table games on-site easily. Casinos have the responsibility to encourage players to opt for cashless transactions rather than using cash-based transactions.

Where There is Money, There are Risks

Unsurprisingly, ATMs are not the safe havens they are supposed to be. Banks continuously improve these systems’ additional security features, but it’s good to consider they’ve been with us for a few decades.

Nevertheless, banking institutions have never ceased to improve safety features to avoid risks and fraud involving their customers’ money. When a bank issues you with a debit or credit card, ensure it’s chip-enabled. It would be best if, when handling your card, there is nobody close to you.

Any ATM should work well in the casino grounds, depending on its layout and facilities. Some casino owners prefer stand-alone kiosk machines because of the portability. A few prefer wall units that can be adequately maintained with security and easily restocked from behind through private access.

Casino-specific ATMs

ATMs specifically designed to operate in casinos come fully equipped with a wide range of functions that you won’t find on regular terminals. These are in place to help reduce the overall operational costs and improve customer experience, ideal for an environment that

ATM service providers design these specific systems in such a way that they include features like bill breaking, ticket redemption, credit, and debit cash advances, check verification, electronic signatures, cash withdrawals, along with many other features to please players.

With these convenient mechanisms, players can spend more time on slot machines or more extended periods sitting at a table game.

The Future of ATMs

It seems clear that the ATM still has a place in the busy casino ground. It specifically caters to playersΒ΄ needs in terms of convenience and adaptability. It’s easy to use it as the terminal to ensure your gambling sessions last longer, and your earnings can quickly jump from the casino floor straight into your bank account.

At the same time, it’s becoming evident that digital payment methods are growing at an insane pace, with increasing adoption in Portugal and other developed nations. With money growing ever more digital, will there still exist a need to find an ATM in the future?

It may be so that the golden years of these groundbreaking machines are already behind them. Our mobile phones now serve us as banking institutions, with the option to use a contactless card – or even your phone’s technology – to process instant payments.

The next time you find yourself in a land-based casino, take a good look at how money is still processed. Sitting at the tip of a radical change, ATMs may very soon find their place in a museum.

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