Technology to Change the Future of Gaming Payment Solutions

Technology to change payment payouts

Lillie Mcguire
Posted on July 23, 2017 at 12:07pm

As of June this year, the European Casino Association (ECA) and Passport Technology have teamed up to bring innovative new solutions to the gaming space. Passport Technology is a leading developer when it comes to tech-based worldwide payment innovations, including both related products and services that have served to streamline the payment division of the land-based gambling industry in Europe and the UK. The technology company has a global portfolio, which includes cash access systems, attended payment kiosks, web and server-based analytic technologies, and a variety of interactive payment services that apply to the real money gambling space.

Now, through a major new partnership, Passport Technology is set to introduce Europe and perhaps even the world to impressive new payment solution systems that will change the way players enjoy real money games. The new ECA partner is based in London, and supports numerous financial services and gaming markets and global payment solutions. Now that Passport Technology is an ECA partner, it will have direct access to ECA’s events, and will also be directly involved in its future operations, with the two companies set to collaborate on numerous new payment mechanism projects.

New Partnership Could Create Safer, More Modern Payment Technologies

By partnering with the ECA, Passport Technology has joined the European land-based casino community that the former organisation was established to support and oversee. Both companies will now work together to create a strong and flourishing gambling industry across the continent, with Passport Technologies gaining access to all of the ECA’s operations when it comes to finance and transactional gambling security. For the ECA, cooperation from all divisions of the European gambling industry is also crucial in creating a healthy industry, and Passport Technology’s advanced financial systems are sure to be helpful in this endeavour.

By creating secure and accessible payment systems, the latter company will ensure that European gamblers feel safe and rewarded when playing real money games, which will in turn improve the industry’s cash flow and general rapport. ECA Chairman Per Jaldung has since commented on the new partnership, noting that his organisation looks forward to working with Passport Technology to ensure responsible gambling, strict anti-money laundering policies, and the integral use of cash within the gaming industry. The partnership, he noted, is intended to create ‘strong and responsible solutions’ through the merging of operators and suppliers’ expertise.

Passport Technology Chairman Scott Dowty also commented, noting that his company is eager to work with operators and suppliers to create innovative new payment processes and products.

Future of Payment Solutions Could Be Inspired By Passport Technology’s Innovations

With the future - and indeed the present - of payment mechanisms relying heavily on modern payment systems like cryptocurrencies, players may be able to look forward to similar cryptocurrency-based systems from Passport Technology in the years to come. The company currently offers a CashValet platform with an advanced payment infrastructure, allowing operators to integrate responsible gambling elements and security into its systems while also providing secure and fast transactional processing. Many of the company’s solutions, such as ValetFund and Funds Accelerator, are designed exclusively for land-based gaming, but such technologies could soon spill over into the online gambling realm, too.

European gaming payment innovations are also sure to influence Canada’s gaming industry as well, and with Passport Technology and the ECA ready to begin engineering new solutions, these might feature in the Canadian industry in the not-too-distant future as the world adopts innovative new payment solutions for gambling. It is important to note that different countries around the world will offer different payment technologies according to local availability. However, when it comes to Canada specifically, the future of gaming payment mechanisms is set to include innovative solutions like Interac eTransfers, the ever-popular eWallets, and the crypto-currency Bitcoin, which has rapidly been gaining popularity thanks to its recent value hike, after hitting a record high in May. Influences from the aforementioned European partnership may also begin to filter through soon, including CashValet features like pre-fund allocations, real-time reporting, maximised interest rates, and multiple delivery channels for gambling funds. Considering this, the new partnership between ECA and Passport Technologies could also hold big things in store for Canadian gamblers, as new and improved financial solutions appear on the horizon.