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8.17 million people at risk of exclusion in a cashless society

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  • At least 8.17 million people are at risk of digital exclusion in the UK, including the elderly, homeless and mentally ill, new research shows.

  • Global Payment Trends reveals the financial and societal impacts of going cashless, as society shifts towards exclusively digital transactions in 2018. 

  • 320,000 people are estimated to be homeless in the UK, while another 1.3 million adults don’t have access to bank accounts. 

 

Cash usage is in decline in every region around the world, with eWallets, credit cards and bank transfers becoming the most popular payment methods in 2018, new research shows.

Analysis has revealed that if current trajectories towards digitisation continue, 8.17 million vulnerable members of society would suffer due to their dependence on physical payment methods. This includes 5.2 million households, or 80% of elderly homes, that rely on cash.

Also at risk of digital exclusion in the UK are the 320,000 estimated people living rough on the streets, 1.3 million adults without bank accounts and 1.352 million people with physical or mental health issues.

Global Payment Methods collates official reports to reveal the potential societal repercussions of digital exclusivity, whereby coins, banknotes and cheques are replaced by eWallets, cryptocurrencies and bank cards.

This rise in alternative payment methods has also led to a decline in ATMs, with the number in the UK dropping from 54,000 to 49,700 between January 2018 and July 2019 alone.

Since 2015, digital payment methods have risen to meet the needs of online shoppers, with eWallets and bank transfers the most popular in 2018. Cash is forecasted to be replaced by debit card as the leading payment method by the end of this year.

Percentage of transactions paid for with cash in the UK

Country

2016

2017

2018

Total % change

UK

9%

9%

7%

-2%

 

This predicted shift would have detrimental societal impacts worldwide, with 1.7 billion adults without access to a bank account, 100 million people reported to be homeless and 617 million people aged 65 and over around the globe – many of whom will struggle to go digital.

There are 450 million people currently suffering from mental or neurological disorders according to the World Health Organization (WHO), with one in four people predicted to be affected by mental illness at some point in their lives.

These figures mean that a staggering 1.875 billion people could be isolated from a digitised society at any one time, due to mental health problems alone.

WHO has pleaded for governments to provide affordable treatments for mental health, as two-thirds (67%) of people with a known disorder never seek help from a health professional. Currently, at least 40% of countries have no mental health policy and over 30% have no mental health legislation.

Establishing affordable and equal access to mental health treatments is more important now than ever before, with the latest figures implying that debit cards, credit cards and eWallets will eradicate cash usage by 2022.

Helen Undy, Chief Executive of the Money and Mental Health Institute, said: “When you’re struggling with your mental health it can be much harder to stay in work or manage your spending, while being in debt can cause huge stress and anxiety – so the two issues feed off each other, creating a vicious cycle which can destroy lives.

“Ensuring that money advice is routinely offered to people using mental health services would increase recovery rates, as well as improving the financial wellbeing of the 1.5 million people currently dealing with this terrifying combination of problems.”

To read more about the impacts of digital exclusion in Global Payment Methods, visit: https://a2zcasinos.org/global-payment-trends

 


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: 8.17 million people at risk of exclusion in a cashless society

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Spinomenal grows UK presence with Lottomart collaboration

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Spinomenal, the leading iGaming content provider, has grown its UK presence following a collaboration with casino and lottery betting operator Lottomart.

Thanks to this partnership, Lottomart players can now enjoy Spinomenal’s library of captivating and engaging online slot games. These include popular hits such as Majestic King, Buffalo Rampage, Trout’s Treasure – Fishing Season and more. The games will be integrated into Lottomart’s casino lobby via the Aristocrat Interactive platform.

This latest move from Spinomenal will consolidate its reputation as one of the esteemed online casino content providers in the UK as it continues to build a strong presence in 2025.

Yossi Shayovits, Head of Business Development for Spinomenal commented: “The UK continues to be a key part of our growth strategy, and partnering with Lottomart – a respected and innovative operator – allows us to bring our games to an even broader and esteemed audience in this important market.”

Chris Ruddock, Commercial Director at Lottomart added: “We’re always on the lookout for exciting content that adds something fresh to our portfolio, and Spinomenal’s titles do exactly that. Their distinctive style, engaging features, and wide range of themes make them a fantastic addition to our casino. We’re really looking forward to seeing how our players respond.”

The post Spinomenal grows UK presence with Lottomart collaboration appeared first on European Gaming Industry News.

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SOFTSWISS Joins Forces with TechIsland to Support Fire-Affected Areas in Cyprus

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During a challenging time for Cyprus, which is currently facing the devastating consequences of recent wildfires, SOFTSWISS, the global tech company providing software for iGaming, stands in solidarity with local communities. The company is actively participating in TechIsland’s fundraising initiative, aimed at providing immediate relief to those affected and supporting recovery efforts.

As a member of the local tech ecosystem, SOFTSWISS is contributing to the broader TechIsland initiative, which brings together Cyprus’s IT and innovation community to provide immediate emergency relief and long-term recovery support.

The company has made a financial donation, which will be directed toward three key areas:

  • Wildfire prevention and fire protection infrastructure;

  • Installation of early warning systems;

  • Urgent assistance for families impacted by the fires.

This initiative reflects a broader pattern of social responsibility. SOFTSWISS consistently responds promptly to natural disasters, especially in countries where its employees, clients, or partners are based. In 2023, the company launched the HELP Brazil campaign following catastrophic floods and also supported a charitable initiative in Poland under similar circumstances.

Through these efforts – from Latin America to Europe and now Cyprus – SOFTSWISS reinforces its commitment to standing with communities in times of crisis. The company continues to lead not only as a tech innovator, but as a responsible global citizen.

“Supporting the country that hosts our employees and partners is not just a responsibility – it is a moral commitment. We have been closely monitoring the situation with deep concern and wanted to provide tangible aid to the fire-stricken areas, beyond words of solidarity. We are proud to be part of the TechIsland initiative and remain open to offering further support wherever it is needed,”  stated Ivan Montik, Founder of SOFTSWISS.

With its contribution, SOFTSWISS hopes to inspire more companies within and beyond the tech industry to act swiftly and decisively in times of crisis. Supporting the communities we live and work in is not just a responsibility – it’s a core part of who we are.

 

About SOFTSWISS

SOFTSWISS is an international technology company with over 15 years of experience developing innovative solutions for the iGaming industry. SOFTSWISS holds a number of gaming licences and provides comprehensive software for managing iGaming projects. The company’s product portfolio includes the Online Casino Platform, the Game Aggregator with over 35,000 casino games, the Affilka Affiliate Platform, the Sportsbook Software and the Jackpot Aggregator. In 2013, SOFTSWISS revolutionised the industry by introducing the world’s first Bitcoin-optimised online casino solution. The expert team counts over 2,000 employees.

The post SOFTSWISS Joins Forces with TechIsland to Support Fire-Affected Areas in Cyprus appeared first on European Gaming Industry News.

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SBC Summit 2025 to Tackle Regulation and Retention in Europe’s Most Competitive Gaming Markets

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SBC Summit 2025 will sharpen its focus on one of the world’s most tightly regulated and commercially significant regions with the launch of the Global Markets – Western Europe track.

Taking place on Wednesday, 17 September at Lisbon’s Feira Internacional de Lisboa (FIL), the track will deliver strategic insights into how major operators are navigating escalating compliance demands, shifting player expectations, and intensifying global competition.

As part of the summit’s broader Global Markets programme, the Western Europe track will equip delegates with actionable strategies for thriving in regulation-heavy markets like Italy, the Nordics, the Netherlands, and Portugal. From revised licensing frameworks to new consumer protection mandates, the sessions will unpack the real-world challenges and opportunities facing operators on the ground. Whether expanding regionally or maintaining position in legacy markets, attendees will gain critical tools to drive innovation, compliance, and player retention in a changing European landscape.

Rasmus Sojmark, Founder and CEO of SBC, said: “Western Europe has long set the standard for gambling regulation, but the landscape continues to evolve. Today’s leading operators must build strong relationships with regulators, drive responsible innovation, and retain customers in an increasingly complex global environment. This track provides the practical insight and expert guidance delegates need to succeed in Western Europe.”

The track will open with the European Leaders Panel: Old World, New Way Forward How the Most Established Brands Are Rethinking Regulation and Retention, bringing together some of the industry’s most prominent voices to discuss how operators can navigate tightening regulations, foster player loyalty, and remain competitive. Pascal Chaffard (CFO & Strategy Officer, FDJ), Axel Hefer (CEO, Tipico), Vlad Kaltenieks (CEO, BoyleSports), Mattias Wedar (CEO, LeoVegas), and moderator Martin Collins (Chief Business Development Officer, Soft2bet) will share their strategies for maintaining compliance while continuing to innovate, engage players, and thrive in Western Europe’s highly regulated markets.

Conversation will then turn to Italy’s post-licensing landscape in Italy’s New Online Gambling Regime: A Game-Changer for the Industry. The session will explore how stricter regulations, higher licensing fees, and enhanced player protection measures are reshaping the market. Industry leaders Fabio A. Bufalini (Country Director Italy, Stake), Marco Castaldo (CEO, Microgame), Will Shuckburgh (CEO, eCogra), Nicola Tani (Chief Editor, Agipro), Stefano Tino (Managing Director Italy, Betsson), and Marco Tiso (Managing Director, Sisal), will examine whether this transition has the potential to strengthen market sustainability or create unforeseen roadblocks, as they offer delegates practical strategies for navigating Italy’s new framework.

The session Portugal: Smooth Sailing or Danger Ahead? will bring together Tiago Bessa (Partner, Vieira de Almeida), Tomas Goncalves (Managing Director, Apostas Sociais (Santa Casa)), Americo Loureiro (Director, Solverde), Rui Magalhães (CEO, Estoril Sol Digital), Bernardo Neves (Secretary General, APAJO), and Tiago Pereira (Head of Portugal, LeBull.pt) to examine the current state of Portugal’s sports betting and iGaming market. With iCasino activity growing while sports betting declines, the panel will consider whether this could signal tighter regulation.

Other sessions featured in the track include Over the Finnish Line: Regulation in the Nordics, which will analyse Finland’s upcoming move to open its market to private operators, and Dutch Courage: Collaboration in the Changing Face of Regulations, which will look at Dutch proposals to raise the age threshold for online slots and introduce stricter deposit limits.

The Global Markets – Western Europe track forms part of SBC Summit 2025’s Global Markets series. Other markets explored across 16–18 September include Global Markets – Latin America and Brazil, and Global Markets – North America, each offering delegates region-specific insights to support international growth and strategic market entry.

Secure your ticket to SBC Summit 2025 today.

The post SBC Summit 2025 to Tackle Regulation and Retention in Europe’s Most Competitive Gaming Markets appeared first on European Gaming Industry News.

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