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The Development of Cashless Apps and Their Effect on the Gaming & Amusements Industry
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As gaming continues to evolve and explore digital channels, new cashless apps are being developed to support the needs of the changing gaming industry landscape and provide a more seamless customer experience. But, what impact will this have on players and operators? We explore the growing demand, how it’s being met, and the potential outcomes.
The Growing Demand for Cashless Payment Options
Though cash is still very much prevalent in the gaming industry and society in general, it’s noticeably becoming less accessible. Across the UK, around 300 cash machines are closing down each month because they are no longer profitable.
Recent research from Paysafe highlights the changing nature of payment methods. Their data shows consumers are increasingly using digital payment methods over more traditional methods. For instance, 50% of their survey respondents used a digital wallet for online purchases, more than credit or debit cards. Paysafe also conclude that “the ease of mobile payments will no doubt continue to pave the way for new and exciting payment innovations to succeed.”
With fewer cash machines and the reduced need for cash, consumers have come to expect cashless payment options more and more. So, when a business does not accept cashless options, customers are likely to take their business elsewhere. BCG research reinforces this, and shows that cash intensive economies tend to grow slowly and miss out financially, whereas those that switch to digital are far more successful. By switching to digital, annual GDP can rise as much as 3%.
Therefore, when it comes to gaming and amusements monetisation, there is growing opportunity to meet the needs of consumers demanding cashless methods. Being able to accept payments seamlessly can be provide a number of benefits for both gamers and operators alike.
Meeting the Demand: Gaming & Amusements
To meet the growing demand for cashless payment options, Bacta’s National Council has recently endorsed a development budget to bring a cashless app to the gaming and amusements market before the end of 2019.
This system in particular is made up of an app which utilises Near Field Communication to transfer money from a player’s digital wallet to the gaming machine. Winnings will then be returned to the phone. The payment system architecture is said to be highly secure with end to end encryption, and the future in the industry is looking positive:
Bacta’s President, James Miller stated:
“Thanks to Greg Wood and other members of his committee, we have negotiated a great deal on terms that are highly competitive and which secure the interests of the membership in both gaming and amusements for the long-term.”
How Might Cashless Apps Impact Gambling?
Today’s developments in cashless payment technology were not foreseen when the Gambling Act 2005 was put together. However, as a general rule the Gambling Commission state they “are supportive of innovation, provided the way in which it is done is consistent with the licensing objectives”. The legislation does permit operators to make cashless forms of payment available.
The Impact of Cashless Apps on Gamers and Operators
There are many benefits that come along with the development of cashless apps for gaming and amusements – none more so than it is creating a positive user experience for gamers. Though its name may be ‘cashless’, it doesn’t necessarily mean cash cannot be used. It simply opens up a variety of payment options for the user. This means they have a more flexible, seamless experience, whether they wish to use a digital wallet or not, the choice is theirs.
When customers have more choice, customer loyalty is likely to increase. An uninterrupted, secure experience is likely to encourage them to engage with a game and return to play in future. It also offers a competitive edge to the operators who are willing to adapt to change. It will therefore be interesting to see what is next for cashless app development in the gaming and amusements industry, as well as how it changes gamers’ overall experience.
The article was produced in collaboration with TVC Leisure, a leading supplier of gaming and amusement machines.
Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: The Development of Cashless Apps and Their Effect on the Gaming & Amusements Industry
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The Philippine Amusement and Gaming Corporation (PAGCOR) has expressed full support for the ongoing World Surf League (WSL) Challenger Series in Baler, Aurora for boosting sports tourism and the country’s position as a premier surfing destination.
PAGCOR Chairman and CEO Alejandro H. Tengco said the agency is proud to sponsor a global league that brings elite surfers to iconic waves across the world, including celebrated Philippine surfing sites such as Siargao, La Union and Baler.
“We proudly support the WSL Series, which showcases emerging surfing talents and shines a global spotlight on the world-class waves of the Philippines,” Mr. Tengco said of the event, which started on November 17 and will run until November 23.
“This competition provides Filipino surfers with a bigger stage to showcase their skills while helping promote sustainable coastal development in surf communities,” he added.
“We look forward to a successful WSL Challenger Series and to seeing more Filipino surfers make a mark on the international surfing scene,” Mr. Tengco said.
The WSL is the leading global platform for professional surfing, staging top-tier competitions throughout the year in celebrated surf destinations.
The Challenger Series serves as the crucial qualifying arena for athletes aspiring to join the elite WSL Championship Tour, attracting a field of seasoned professionals and rising stars from across the world.
The Philippines has long been part of the WSL map, with Siargao hosting league-sanctioned events for the past 29 years.
The country’s consistent presence in the global surfing event has helped elevate local shores – particularly Cloud 9 in Siargao, as well as surf hubs in Baler and La Union –into key destinations for both athletes and adventure tourists.
The post AGCOR backs WSL Challenger Series to boost PH sports tourism appeared first on European Gaming Industry News.
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PRONET GAMING BECOMES FIRST B2B OPERATOR TO ESTABLISH SCBPO ACCREDITED OPERATION IN THE PHILIPPINES VIA CLAYMORE SOLUTIONS
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Omni-channel turnkey provider Pronet Gaming is the first internationally-licensed B2B company in the gaming sector to establish an SCBPO-accredited operation in the Philippines via Claymore Solutions.
Claymore Solutions is accredited by the Philippine Amusement and Gaming Corporation (PAGCOR) as a Special Class BPO (SCPBO), which authorises them to provide employer of record & serviced office space to internationally licenced gaming operators enabling them to establish operations in the Philippines without taking bets or payments.
Pronet Gaming will now build out IT and Trading teams in Manila, further strengthening its operational presence and technical capabilities in the region.
Pronet Gaming CEO Alex Leese said: “Establishing an SCBPO-accredited presence in the Philippines is a milestone that aligns perfectly with our long-term strategy of expanding our footprint in Asia, in a fully compliant way. We’re happy to have made this possible through the collaboration and support of our trusted partner, Claymore Solutions.”
Paul Fox, Chairman and Co-Founder of Claymore Solutions, said: “We’re honoured to be working with Pronet Gaming, providing EoR and serviced office space solutions for their operations which underlines the quality of local staff and further boosts the Filipino economy.”
PAGCOR Chairman Al Tengco commented: “We’re delighted to have B2B operators such as Pronet Gaming establish their Trading and IT operations here through Claymore Solutions. I hope that more companies follow given the wealth of readily available Filipino talent in this sector.”
Claymore will announce additional client partnerships in the near future.
The post PRONET GAMING BECOMES FIRST B2B OPERATOR TO ESTABLISH SCBPO ACCREDITED OPERATION IN THE PHILIPPINES VIA CLAYMORE SOLUTIONS appeared first on European Gaming Industry News.
Fairspin Casino presents the Fairspin Royale Run Tournament, an event designed to offer participants access to high-value rewards. The circle of privilege is introduced as a thematic element of the tournament and is presented as part of the overall concept.
From November 15 to December 25, gameplay is structured as a progression-based format, with rewards that include a luxury car, a premium motorcycle, and a branded watch.
The Fairspin Royale Run Tournament combines entertainment with measurable advancement through Fairspin’s transparent Play to Earn system. Each action contributes to overall progress, bringing participants closer to the available prizes.
Royale Run Tournament Prestige Overview
The Fairspin Royale Run Tournament is presented as a competitive event within the platform, featuring rewards intended to highlight its premium positioning. The tournament links in-game activity with defined outcomes, offering items such as a car, a motorcycle, and a watch as part of the prize structure.
By combining an incentive-based format with these rewards, Fairspin outlines its approach to transparent, activity-driven gaming. The Fairspin Royale Run Tournament reflects the platform’s emphasis on structured progression and measurable results.
Tournament Participation Details
The Fairspin Royale Run Tournament follows a Play to Earn format in which each bet contributes to advancement on the leaderboard. A total prize pool of $50,000 USDT will be allocated among 100 winners.
Participation is outlined as follows:
- Users can join the event by selecting “Participate” on the tournament page.
- Users can engage in any preferred games* — each bet boosts overall ranking.
*All games are eligible for the tournament, except those listed in Section 7.1.2.
Results are determined by the number of TFS tokens accumulated during the event. TFS is Fairspin’s digital asset used to reflect activity within the platform. Higher token totals correspond to higher positions on the leaderboard.
The winners will receive the following prizes:
- 1st place: 20,000 USDT or a car certificate
- 2nd place: 10,000 USDT or a motorcycle certificate
- 3rd place: 6,000 USDT or a watch certificate
- 97 finalists will share 14,000 USDT in additional rewards
Each action recorded during the tournament contributes to overall standing and eligibility for the listed prizes.
TFS Token Usage Overview
TFS tokens are used within the Fairspin ecosystem beyond the tournament period. They function as a mechanism for in-platform utility, as accumulated TFS can be converted into game currency, staked for defined returns, or exchanged in the Fairspin Store for items such as bonus funds, free spins, free bets, and selected technology products.
The platform outlines its token mechanics, withdrawal processes, and loyalty structure as part of its overall operating model, with each action contributing to measurable activity within the system.
About Fairspin Casino
Since its inception in 2018, Fairspin Casino has been at the forefront of innovation, combining a rewarding gaming experience with unparalleled blockchain transparency. With more than 10,000 games from over 100 top-notch developers, fast withdrawals, and enticing promotions, Fairspin continues to set the gold standard in the online casino industry.
The introduction of Fairspin’s TFS token has adjusted engagement dynamics on the platform. TFS is accumulated through rakeback and progression within Fairspin’s 10-level loyalty program. Tokens can be staked for defined returns or exchanged for a range of available benefits, including additional gameplay options and platform rewards.
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