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Rising cash payments in India secured by Spectral Technology

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Rising cash payments in India secured by Spectral Technology
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Despite India’s government implementing schemes, such as the demonetisation of all 500 and 1000-rupee notes in 2016, to encourage the country to go cashless, there is still high demand for banknotes. According to the Global Cash Index™, cash continues to hold a significant role in Indian culture and is seeing growth rather than decline – cash is still very much king in the region.

Commenting on the popularity of cash in the region Marcus Tiedt, Sales & Marketing Director of Innovative Technology Ltd (ITL) said, “With over a billion people living in India a large percentage of them still transact in cash and are not part of the official tax network. Also, the infrastructure required to go cashless needs years to catch up and be reliable, and therefore a cashless society is not currently achievable in the short term. Working closely with Chevend, our Trading Partner in the region for the past four years, we are meeting market and consumer demand to ensure that cash can be used as the preferred method of payment both securely and efficiently.”

Andy Bassam, VP of Customer Support for ITL commented, “We foresee that our latest products with the added benefit of Spectral technology will begin to see more and more demand.  We work hard with Ammaar, who heads up our partnership at Chevend, to ensure that we optimise datasets and acceptance rates on our products. The National Bank release banknotes on a yearly basis and notes in circulation can wear quickly, so keeping datasets up to date is imperative. Another major challenge in India is that the banks do not allow customers to redeem damaged and stained banknotes. This issue can be overcome by using ITL products that utilise our Spectral Technology to ensuremachines do not accept banknotes that have been damaged or stained by anti-theft devices.”

CHEVEND TECHNOLOGIES PVT. LTD based in India, are the proud pioneers of the Automatic Vending Concept in India and although vending is their core competence, their payment systems division has grown in prominence and turnover over the years and they provide payment systems to customers within the Kiosks and Banking sectors.

Commenting on the Trading Partnership, Ammaar Huseini, Director at Chevend said, “We have been collaborating directly with ITL to provide their state-of-the-art cash validation products to customers throughout the whole of India since 2016. We also have an office in Dubai, so are helping to extend ITL’s reach throughout the Middle East. We offer support for a wide range ofproducts including the NV9, NV11, NV200 and BV20 where uptake in the region is substantial giving Innovative Technology significant share of the vending market.  We are delighted to have secured a significant tender for the NV10 compact, stackerless banknote validator recently to be used in government payment terminals. Looking forward, we are beginning to promote ITL’s Spectral range of note validators and recyclers to help businesses in the region reject ink-stained banknotes.”

Concluding Andy said, “We have a really good relationship with Chevend, and with Ammaar’s comprehensive local knowledge in the region I look forward to many more years working in partnership together.”


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: Rising cash payments in India secured by Spectral Technology

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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BETBY TAKES CENTER STAGE AT NEXT SUMMIT VALLETTA WITH A STANDOUT APPEARANCE BY MAGNUS CARLSEN

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From the 7th to the 8th of May, the Mediterranean Conference Center in Valletta, Malta, transformed into the global hub of iGaming innovation at NEXT Summit Valletta, and BETBY made a memorable mark with a powerful blend of star power, strategic thought leadership, and engaging tournament action.

The highlight of BETBY’s presence was the appearance of Magnus Carlsen, five-time World Chess Champion and BETBY’s global brand ambassador, who captivated the audience as the headline speaker of the summit. In an exclusive fireside chat titled “iGaming Chess World Championships – Hosted by Magnus Carlsen & BETBY,” Carlsen joined NEXT.io co-founder and managing-director Pierre Lindh on stage to explore the synergies between chess, poker, and iGaming. The chess GOAT shared personal reflections on his journey from prodigy to world champion, discussed how strategic thinking shaped his mindset, and drew parallels between classic board games and modern betting dynamics, offering a unique perspective that resonated deeply with both chess lovers and iGaming professionals.

Magnus Carlsen’s keynote was followed by a thrilling showpiece: a blindfold chess match against the winner of the inaugural iGaming World Chess Championship, a tournament hosted by BETBY in partnership with the Malta Chess Federation. Open to all delegates, the tournament offered a rare opportunity to go head-to-head in a high-stakes strategic challenge, with the once-in-a-lifetime prize being a live match against Carlsen himself. The tournament underscored BETBY’s commitment to creativity, innovation, and connecting gaming communities in new and exciting ways.

Continuing its thought leadership momentum, BETBY’s Chief Commercial Officer, Chris Nikolopoulos, took the stage on the second day of the event, contributing to a high-level panel discussion titled “LATAM – A flash in the pan or a long-term powerhouse?” Sharing the stage with fellow industry leaders, Nikolopoulos provided insights on the evolving dynamics of Latin America’s iGaming market. Topics included Brazil’s standout role, the growth potential in Colombia and Peru, and strategies for balancing short-term success with long-term sustainability. His participation cemented BETBY’s position as a key voice in the global conversation about emerging market opportunities and investment strategies.

NEXT Summit Valletta 2025 was a celebration of innovation, connection, and cross-industry creativity, with BETBY standing at the heart of it all. From inspiring keynotes and a groundbreaking tournament to meaningful conversations and strategic insights with both existing and potential partners, the event reinforced BETBY’s position as a bold, forward-thinking leader in the iGaming industry.

The post BETBY TAKES CENTER STAGE AT NEXT SUMMIT VALLETTA WITH A STANDOUT APPEARANCE BY MAGNUS CARLSEN appeared first on European Gaming Industry News.

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SolutionsHub Promotes Zita O’Kelly-Hills to Head of Operations Amid Continued Growth

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SolutionsHub is pleased to announce the promotion of Zita O’Kelly-Hills to Head of Operations, a leadership role central to delivering operational efficiency and scalable business infrastructure across its expanding portfolio.

A former legal professional, Zita brings a unique combination of expertise, operational insight, and leadership maturity to the role. Since joining SolutionsHub, she has steadily expanded her remit—taking on increasingly complex responsibilities in areas such as treasury, governance, and regulatory coordination. Her promotion recognises her significant contributions and the critical role of operations in SolutionsHub’s continued growth.

As Head of Operations, Zita will oversee the day-to-day functioning of the group and lead the refinement of internal systems and processes, while ensuring alignment with the strategic objectives set by the Board.

Zita’s background in legal services informs her disciplined, process-oriented approach, while her aptitude for optimising workflows and driving cross-functional collaboration has already resulted in meaningful improvements to the company’s internal efficiency and governance capabilities. In addition to overseeing essential operational functions, she continues to play a key role in supporting clients with complex governance requirements.

“Zita’s appointment comes at a pivotal time for SolutionsHub,” said Nick Wright, Chief Operating Officer. “Her attention to detail, governance expertise, and ability to bring structure to fast-moving environments make her an invaluable part of our leadership team. This promotion not only recognises her past performance but underscores the central role operations plays in keeping SolutionsHub agile, compliant, and future-focused.

It strengthens our operational foundation and positions us to support growth across both established and emerging service areas.”

The post SolutionsHub Promotes Zita O’Kelly-Hills to Head of Operations Amid Continued Growth appeared first on European Gaming Industry News.

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Gaming in Holland Conference announces new speakers, pre-conference program

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The Gaming in Holland Conference, which will take place June 5 in Amsterdam, has added several new speakers to its agenda.

Björn Fuchs, newly appointed Chair of VNLOK, and Henry Meijdam, who heads the VAN Kansspelen trade association, will both make an appearance at the event.

Fuchs and Meijdam join an impressive speaker lineup that includes Arjan Blok, CEO of Nederlandse Loterij; Renske Fikkers, Head of Market Supervision at the Netherlands Gambling Authority; and Henk Willem Smits, investigative reporter at Follow the Money.

Additionally, we are happy to welcome as our special guest former NOGA Chair, Peter-Paul de Goeij, who has promised to offer a no-holds-barred reflection on the (in)efficacy of Dutch gambling regulation.

Finally, we are extremely pleased to announce that Rohan Tare, Head of IT Customer Interaction at ABN AMRO, will discuss the growing threat of AI-supported identity fraud – a topic that is highly relevant for any business dependent on remote customer interaction.

The full agenda is available here.

Willem van Oort, Founder of Gaming in Holland, commented: “We are extremely pleased with our current speaker lineup. All key stakeholders and decision makers in the Dutch gambling industry will be represented at our event. As always, the Gaming in Holland Conference will is the best place to meet the people who matter in the Dutch regulated market. Moreover, we have taken the utmost care to ensure that all relevant developments and topics will be addressed at our conference. We almost can’t wait for our event to kick off!”

Breakout sessions and networking opportunities

In addition to our main program, the Gaming in Holland Conference also features several highly practical breakout sessions. Check out the full agenda for more information.

Furthermore, the Gaming in Holland Conference also offers plenty of networking opportunities during coffee breaks, lunch, and our traditional boat tour through Amsterdam’s picturesque canals.

Last but not least, the award ceremony of the Dutch Online Casino of the Year Awards will take place during the Gaming in Holland networking drinks at Holland Casino Amsterdam. All GiH Conference attendees are cordially invited to attend the festivities!

Pre-conference workshops & drinks

The GiH Conference includes free admittance to two certificate-granting workshops, which are generously provided by Chevron Consultants.

Workshop #1 is titled “Establishing a learning and training culture in your company with an LMS” and discusses the proper implementation and benefits of a Learning Management System.

Workshop #2 is titled “Compliance performance audits” and will teach participants how to structure audits in line with ISO 19011 and how to evaluate the performance of compliance procedures.

Both workshops will take place on June 4 – the day prior to the main event – and are free to attend for paying GiH Conference attendees.

Finally, all conference attendees are invited to join us for informal drinks and traditional Dutch “bitterballen” at Café Bistro Rijnbar in Amsterdam on June 4, from 19:00 until late. The first round is on us!

Registration now open

Registration for the Gaming in Holland Conference is now open. Don’t miss it! Register today: https://bit.ly/GiHC2025.

The post Gaming in Holland Conference announces new speakers, pre-conference program appeared first on European Gaming Industry News.

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