There’s been a lot of talk in the casino industry about going completely cashless. The reality, however, looks a bit different. Tracey Chernay, Senior Vice President of Transact Technologies, spoke about the issue in an interview with Asia Gaming Brief.
While Chernay admits that there has been a lot of discussion about casinos going cashless, she believes that, “the adoption has been somewhat less than the discussion.”
Chernay believes that one reason for the delay in casinos going cashless is the abundance of softwares available. Casinos haven’t been able to decide on the one they want to move forward with. That being said, another large barrier to going cashless is the lack of demand by players.
There are many reasons why a player may wish to use cash for gambling purposes. One reason is that players may wish to keep their playing private. “Casino gambling is certainly different from other types of transactions that we make, and there are many reasons why people want to keep their playing private.”
Additionally, more casual or infrequent players are more likely to use cash than download a casino’s app. It may feel cumbersome to casual players to manage and maintain apps for every casino they walk into.
So while she does see cashless technology in casinos gaining some foothold, Chernay doesn’t see cash going away. Rather, she sees cash and cashless payment systems in casinos “coexisting nicely,” allowing players to choose which method of payment they prefer.
That’s a big win for players who prefer cash.