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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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Fast Track releases new AI Player Churn Model

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Fast Track has announced the release of a new AI-driven Player Churn Prediction Model, now available to all partners within its CRM platform. The model enables operators to identify players at risk of churning as early as the first day of inactivity, supporting more proactive and efficient retention strategies.

Built on Fast Track’s proprietary machine learning platform, FTML, the model uses seven sub-models to analyse player behaviour and make accurate predictions tailored to each operator’s player base. The system continuously trains itself on live data, ensuring predictions remain relevant and effective over time.

The Churn Model is already in use by several Fast Track partners and is fully integrated into the platform’s core workflows. Once activated, operators receive clear, actionable insights into which players are likely to churn, along with data-informed recommendations on timing and incentive levels for re-engagement.

“Churn is one of the most impactful use cases for AI in player engagement,” said Simon Lidzén, Co-Founder and CEO of Fast Track. “With this model, operators can focus their efforts where it matters most; targeting players who are truly at risk with the right offer at the right time. It’s a smarter, more cost-effective approach to retention.”

The Churn Model addresses a common challenge in the industry – overuse of reactivation bonuses – by helping teams deliver more relevant and timely incentives based on predictive insights, not guesswork.

To support the launch, Fast Track will host a live webinar on Thursday, 10 July 2025 at 16:00 CEST, offering a walkthrough of the new Churn Model and its practical applications. Save your spot at app.livestorm.co/fast-track/save-your-players.

 

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Evolution and Hasbro sign exclusive online live casino and slots partnership agreement

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Evolution today announced it has signed a multi-year agreement with Hasbro, a leading games, IP and toy company, to be their exclusive licensing partner for online live casino and slot games for MONOPOLY and other Hasbro Games titles.

The worldwide deal, including the USA, covers online content from all Evolution brands, including Evolution, Ezugi, NetEnt, Red Tiger, Big Time Gaming (BTG), Nolimit City and Livespins.

The new exclusive partnership for MONOPOLY and other Hasbro Games titles builds on a highly successful working relationship between the two companies. Evolution has already developed MONOPOLY Live and MONOPOLY Big Baller, two innovative online live casino game shows based on Hasbro’s world famous board game. Both are at the top of Evolution’s game line-up and are two of the best-performing games in all of online gaming.

As a result of the new partnership, Evolution will be the exclusive licensing partner for online casino games based on much-loved Hasbro Games properties. New games will launch from January 2026 onwards and will be showcased at ICE Barcelona 2026. Amongst the new Hasbro-based titles from Evolution brands will be Game Night, MONOPOLY Filthy Rich, MONOPOLY Roulette (all live online games with live presenters), and a number of online slot titles.

At Hasbro, we’re all about play—whether it’s classic board games or casino experiences. After a thorough RFP process, we’ve chosen Evolution as our exclusive partner for online live casino and online slots for Hasbro Games titles,” said Claire Hunter Gregson, Director Gaming Relationships. “We trust them to bring our brands to life in fresh, exciting ways for our adult fans and look forward to our partnership.

Todd Haushalter, Evolution’s Chief Product Officer, commented: “The combining of Hasbro and Evolution just feels right — we will make magic together! The bidding process was extremely competitive, but showing our commitment to innovation and excellence with MONOPOLY Live and MONOPOLY Big Baller, really helped! The team and I are incredibly excited to bring the Hasbro Games brands to all our various brands. I think MONOPOLY is the world’s best casino game brand, and we can do so many great things with it, and, of course, with many other Hasbro Games brands. It is hard to believe, but these are still the early days of online gaming, and with Hasbro we will forge a new chapter in our industry.”

 

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Expanse Studios (GMGI) Obtains Croatian iGaming Certification

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Expanse Studios, the B2B game development division of Golden Matrix Group Inc. (NASDAQ: GMGI), has received official certification from Croatia’s Ministry of Finance for its flagship game Super Heli, with additional titles in the company’s 56-game portfolio expected to receive approval in the coming weeks for the EU member state.

The certification marks a strategic entry into a market that generated US$484.70m in 2024, with projected growth at a CAGR of 8.4% during 2024-2030. Super Heli, Expanse’s most popular crash-style game, becomes the first of the studio’s titles approved for the Croatian market, paving the way for broader portfolio distribution.

Tapping Into High-Growth European Market

Croatia represents a compelling opportunity for B2B gaming suppliers, with the Online Casinos segment alone projected at US$218.10m in 2024. According to iGamingToday’s latest market research, Croatia’s gambling market will reach €720.42 million by 2025, making it one of Europe’s fastest-growing regulated markets.

Among the key market benefits are:

  • Accelerating digital adoption – Internet penetration jumped from 76% in 2020 to 83% in 2023
  • Over 20.6 million tourist arrivals in 2023 following Schengen Zone entry
  • Over 500,000 Croatians expected to engage in regular online gambling by 2027

Strategic Value for the Company

The certification strengthens Expanse Studios’ European footprint at a critical juncture. With 56 proprietary titles and 500+ B2B partners globally, Expanse is expected to capture a meaningful share in the growing EU market.

“Croatia certification is more than market access—it’s validation of our content quality and compliance capabilities in demanding EU jurisdictions,” said Damjan Stamenkovic, CEO of Expanse Studios. “With our flagship title Super Heli already approved and more games in the pipeline, we’re very excited for the opportunities this markets brings us”

Competitive Advantage in Regulated Markets

Croatia’s regulatory framework favors established, compliant B2B providers. Operators must obtain licenses requiring significant capital investment, and only licensed casino games operators who have at least one brick-and-mortar casino can offer online gambling. This creates high barriers to entry and positions certified B2B suppliers like Expanse as essential partners for operators.

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