Global Payments and IGT Sign Five-Year Deal for Cashless Payments
International Game Technology (IGT) flexes its financial muscle at the height of the COVID-19 pandemic sending most companies scampering to mitigate losses. The software developer just deepened its partnership with Global Payments to launch a cashless payment solution. Both companies entered a multi-year partnership to combat the new challenges that come with coronavirus. The highly contagious novel virus limits physical interaction between not only humans but also items. IGT seeks to endorse this technology as a solution to mitigate its spread when playing on mobile, online, or in location-based casinos.
The new cashless payment solution allows players to access bank funds quickly, making it sanitary and easy to access gambling services. Once an account is registered, punters can transfer funds from their bank accounts into the digital wallet in one step. The same goes for withdrawals. Ryan Reddy, the IGT Vice President for Video Lottery Terminal, System, and Payment Products, glossed over the matter, stating that it was essential to client adoption. He said that it takes more than just technology to change cash players into cashless ones, and Global Payments does that. The cashless payment system offers a greater incentive with easy and convenient use.
Since its establishment, more than 3.5 million people have adopted Global Payments’ VIP Preferred solution to conduct payments and indulge in responsible gambling. Global Payments says it is looking forward to connecting the new cashless payment option by IGT to other funding methods under its umbrella. It also seeks to partner with more payment options from different banks. The online wallet solution has been approved in Nevada and is open to use in Las Vegas and other gambling destinations. Nevada has been open to numerous cashless initiatives since the pandemic hit, including the touchless payment solution by Aristocrat, Boyd, and Sightline. Also, the casinos, taverns, and distributed gaming company, Golden Entertainment, agreed to Quick Play, a system developed by Marker Trax.
How it Works
Resort Wallet, the new IGT and Global Payments cashless solution, offers two flexible variations to players: carded and cashless. Once a PIN-protected cashless wagering account is opened, punters can fund either option digitally by pulling funds from their credit cards, debit cards, bank accounts, and eWallets like IGTPay. The platform also accepts real money deposits at casino kiosks, cashiers, and slot games. Once the funds reflect in Resort Wallet, gamblers are required to;
- Use a mobile application to launch the cashless account
- Tap their smartphone on the slot machine they wish to play
- Confirm that the desired funds have been carded in
- Proceed with gameplay as usual
When using the carded cashless option, gamblers use a loyalty club card instead of their smartphones. The cards are inserted in the slot machine, and funds are transferred into the pokie. The money in the wallet is secured for the next gambling session or casino visit. It’s also possible to transfer funds from one slot machine to another and other properties in the gambling destination under the IGT brand.
International Game Technology and Global Payments go back years, having partnered in 2016. The relationship between the two powerhouses has evolved over the years, making the cashless payment move far more than a chance partnership. In 2018, the companies announced the first major product of their coalition – IGTPay. The platform was launched to cover the software developer’s PlayLottery Products. Over time, it has changed to cover all IGT digital services.
About Global Payments
Global Payments is a payment and technology solutions company that offers enterprise-wide services, applications, and cloud solutions. The provided services work to amplify business operations with client-friendly payment experiences. The company is held together by three main pillars: fast-growth market exposure, software-driven partnered and owned, and full omnichannel capabilities. These elements support software and payment solutions under one banner that propels startups to robust business by simplifying the commerce path they tread.
Global Payments offers solutions to more than 3.5 million partnerships worldwide in different sectors, including nonprofit, education, and healthcare organizations. The firm created a differentiated payment technology model supported by its partnerships with more than 1300 leading financial institutions worldwide. Global Payment clients enjoy more than 140 payment types and access to more than 3500 sales professionals to do business with. The corporation backs its success with about $8.6 billion adjusted net revenues and fees alongside 50 billion completed transactions each year.
International Game Technology (IGT) is a multinational gaming company that credits its success to its passion for providing gambling products that compete globally. The company’s works with a wealth of experience spanning decades, having opened its doors in 1990. The gaming firm has its headquarters in London and regional offices in other major hubs like Rome, Las Vegas, and Rhodes Island.
While it has its hand in nearly every gambling technology, IGT is best known for its Pokies production. The company comes second to none with millions of slot machines in offline casinos and thousands more in internet gambling dens. The technologically-adaptive corporation boasts numerous accolades from numerous iGaming events for its creative gaming content. The firm’s games portfolio is accompanied by top-tier platforms to deliver best-in-class gaming content. IGT’s slot catalogue holds everything from classic titles to visually stunning masterpieces and progressive sets with life-changing amounts in tow. All of the developer’s pokies are available in instant-play mode, and some of them come with a download alternative. Its most famous releases include;
- Da Vinci Diamonds
- Wheel of Fortune: On Tour
- Hex Breaker 3
- Mega Jackpots Cleopatra
- Wheel of Fortune Triple Extreme Spin
- Griffin’s Throne
- Golden Goddess
- Wolf Run
- Triple Diamond
- Double Diamond
- The 100,000 Pyramid
IGT also doubles in slot machine cabinets, table games, lotteries, and sports betting.
IGT solutions drive industry-influencing gaming experiences, and this cashless payment wallet is no different. The solution works for both the software developer and players seamlessly. IGT gets to access Global Payments’ VIP Preferred network, and gaming patrons get a seamless and frictionless way to finance their gambling adventures through a wide range of funding sources.