12 minute read
Payments
by SBC Global
SCAN N PLAY: TRUSTLY BRINGS DIGITAL PAYMENTS TO LAND-BASED GAMING
SAMUEL BARRETT, DIRECTOR OF GAMING AT TRUSTLY,
takes a look at why Scan N Play extends the benefits of digital banking into the land-based gaming environment and how retail operators can bring their deposit and withdrawal processes into the digital age
At Trustly, our mission is to pioneer a world of open payments. Since 2008, we have worked with a variety of industries, including digital gaming operators, to fulfil this aim.
Since 2015, our Pay N Play® solution has become a preferred payment option with online gamers across Europe. With Pay N Play, Trustly supports operators in fulfilling their KYC requirements while at the same time delivering a seamless player experience.
With the launch of Scan N Play in the spring of 2020, we’re now making lots of connections in real life. Scan N Play extends the seamless Trustly digital experience into the realm of landbased gaming.
By using Scan N Play, players can make instant cashless deposits and withdrawals at casinos and retail gaming shops. Players both instantly deposit and confirm their identity in one seamless flow.
In addition to improved customer experience, land-based operators are also able to simplify compliance and administrative processes with this revolutionary new solution.
Player verification, anti-money laundering and responsible gaming is all made easier with Scan N Play. By removing the need to handle cash, this digital solution also lowers cash handling costs and improves operational efficiency.
Scan N Play dethrones the cash king
To use Scan N Play, all a player needs is their mobile phone, an internet
connection and access to their bank’s online account. There's no app download required, so the path to user adoption is wide open.
The player scans a QR code, which can be found at the cage, cash desks and tables. We've also partnered with Casino Management Systems and terminal providers, making it easier to offer Scan N Play to players at all other touch points in retail like slot machines and TITO terminals.
By scanning the QR code, players are taken to the Scan N Play web application. They can then log into their bank account and authenticate themselves through their mobile bank authentication method.
Secure payment and instant KYC are a win-win
With bank authorisation methods increasingly based on biometrics, the player gets a simple but safe experience. Once the player uses twofactor authentication to confirm their identity, Scan N Play creates a virtual player account in the background, and the player completes the payment.
Operators get full player authentication out of the box. Not only does this reduce fraud, Scan N Play frees up time for the croupier, allowing them to pay more attention to players and worry less about administration.
Responsible playing goes digital
Once the player completes a deposit, Trustly sends an instant credit notification that can then be approved or denied by the croupier/cash attendant. The value of the deposit and the player's KYC information is all accessible through the merchant application provided.
Once the deposit is received and approved, the player can redeem their chips or cash voucher which can then
be deposited directly at the tables and slot machines. Scan N Play can also be directly integrated into slot machines and CRT terminals, further enhancing its visibility across the retail gaming floor.
Via Scan N Play, the cashier can access self-exclusion registries. Players can set deposit and time limits and set a loss limit on table games, helping operators comply with regulations while putting more power in the hands of the gamer to play responsibly.
Bypassing the outdated experiences of cash and cards
Players want instant withdrawals – that’s true for both online and offline gambling. According to a survey on gaming preferences conducted by Trustly in 2020, instant payouts clearly boost the player experience and create more loyal players.
Today’s withdrawal experiences in land-based casinos and retail gaming shops are lacklustre. Cash and card withdrawals have disadvantages for all types of players.
Casual players predominantly pay by card and therefore receive winnings after waiting multiple days. That’s especially true if they’ve played during the weekend.
Seasoned players are well aware of the inherent limits of cards (processing limits, delayed withdrawals, declined transactions) - as a result, these players tend to bring large amounts of cash with them.
Restricted from using local payment methods, international players are left without much choice, so they also tend to stick to cash. Scan N Play offers operators the power to provide a new, seamless experience to all their players, both local and international.
Boosting player experience with instant withdrawals
Scan N Play provides a modern instant payout solution for all players. Scan N Play withdrawals are generally sent to the same account where the funds were deposited from, without any player interaction needed and thus closing the loop.
As soon as the withdrawal request is completed, funds are transferred from the Trustly merchant account back to the player’s own bank account. The player walks out of the establishment and can access their money within five minutes.
Less cash, less cards, less problems
Scan N Play extends the benefits of digital banking into the land-based gaming environment. By removing cash and cards from the equation, land-based operators can bring their business fully into the digital age.
Cash handling is a laborious task. By replacing cash with digital payments, the variable costs of cash handling can be decreased. Depending on the flexibility in your cash handling setup, Scan N Play can decrease cash handling costs by 25-50%.
Since Scan N Play deposits are instant, operators can skip the reconciliation waiting times that often accompany cards. Scan N Play can also support operational benefits including smoother pay-out processes and reduced time spent tracking missing payments.
Scanning the horizon
Since 2008, when we were founded by three friends in Stockholm, Trustly has grown to over 500 people working at 10 offices in Europe and the Americas.
Operating under the supervision of the Swedish FSA, we support more than 7,600 banks across Europe, North America and Australia. Building on that momentum, 2020 has been a big year for us. In addition to the Scan N Play debut, we’ve also launched a new brand identity.
We now have a new, bright green logo that’s designed to stand out in the payment environment. So, whether you’re online or on land, we hope you and your players will see more of Trustly in the years to come. •
DESPITE THE DIGITISATION OF PAYMENTS elsewhere in Europe, particularly in the UK, for a long time it seemed nothing would make Italians embrace such a change. But has the coronavirus brought about a change in the landscape?
Like a mask-less sneeze in a crowded train carriage, many people in the UK in 2020 will be newly repulsed at the thought of handling physical banknotes touched by countless strangers. Signs saying “card payments preferred” or “card only” are increasingly common in COVID Britain.
It’s also true that the UK adopted card and digital payments earlier and more aggressively than many other nations. British people trust their financial institutions, and they like the convenience of paying by card and contactless wherever possible. Even before the global pandemic, cards had replaced cash as Britain’s favourite way to pay.
The UK may be an outlier in Europe in terms of its adoption of digital money, but it’s not the only one. At the other end of the spectrum, and among the least digitised spenders, has been Italy.
Italians do not have the same kind of trust in their banks and they love cash – not only for day-to-day spending, but for savings too. Many Italians choose to keep physical cash in a safe space at home rather than a bank account, and many shops, restaurants or bars still don’t accept card payments.
For years, despite digitisation elsewhere in Europe, it seemed as though nothing could tip the balance in the favour of digital payments. The Apple Watch famously bombed in Italy, since it’s killer app (contactless payments) did not appeal to the Italian public.
This could finally be starting to change, however. Recent Mastercard research suggests that one in two Italians made more use of digital payments during the COVID-19 lockdown. A quarter declared that they want to abandon cash forever.
Could it really be that Italy is finally ditching cash and embracing digital money? Furthermore, does this represent a new commercial opportunity for gaming operators in the region? The answer to both questions is “yes, but”.
Yes, COVID has escalated
digitisation, but it’s likely that cash will continue to be the dominant form of payment in Italy for years to come.
Yes, there is an opportunity for the iGaming industry to tap into an increasingly digitised market, but it must remember that cash is still very much in play. For the next few years, it is likely that Italians will use both cash and e-wallets to fund their gaming accounts.
The rise of hybrid “cash to card” or “card to cash” solutions that bypass traditional banks will also become increasingly popular in the region. Cash deposits should, therefore, be a pre-requisite for all operators in the region when choosing new payment partners, or they will lose ground to competitors embracing the growing overlap between cash and digital money.
Why are Italians embracing digital?
It’s impossible to underestimate the impact of the COVID pandemic on Italy’s switch to digital payments. The first wave of lockdowns prompted increased use of digital payments for online purchases and home deliveries. When the country reopened again, card and contactless payments were seen as a safer and more hygienic alternative than cash.
COVID is not the only driver of change for operators to be aware of, however. Italians are increasingly looking for new ways to use and protect their money. They want secure and easy to use digital money services and are converting their cash
to e-money, abandoning their typical bank cards and switching to e-wallets.
Digital money solutions are also increasingly appealing to younger demographics who are accustomed to using their smartphones for anything and everything. While digital payments were quite limited five years ago, they have advanced considerably since. It’s now possible to make secure
payments with a smartphone and a fingerprint in seconds, on ecommerce sites as well as p2p payments like splitting a bill.
As mentioned previously, many Italians do not trust the bank. E-wallets have, therefore, emerged as a popular payments option, as a secure prepaid account based on a mobile app rather than a traditional bank account. Many Italians like having an account kept separate from their bank, but which offer the same kinds of functionality as modern banking apps for tracking spending and making secure payments.
Can cash and e-money co-exist?
Italy won’t switch to e-money overnight, and it may never have the same kind adoption rates seen in the UK. It is likely that cash and e-money will have to co-exist for the foreseeable future, and operators should seek to gain a commercial advantage over cash options in Italy. iGaming businesses should look for e-wallet partners that have secure, compliant and low-cost cash deposit options built into their service in Italy. In much the same way that many people can pay for utilities or to top up their Oyster card in the UK in a local newsagent using cash, Italians can also make cash deposits into their e-wallets accounts using services like MuchBetter’s Ricarica – available instore at 15,000 venues nationwide.
MuchBetter is best known for the
security and ease of use of its service. Users make secure payments with their fingerprint and smartphone, no passwords or PINs to remember. Its patented dynamic CVV has also eliminated third-party fraud, since CVV numbers are randomly generated for every transaction. The cards cannot be used by criminals and fraudsters if lost, stolen or involved in an ecommerce data breach.
To use the new MuchBetter cash deposit service, Ricarica, Italian customers do not even need a bank account, just an e-wallet app on their smartphone – a pre-paid card or NFC device is optional. This is an ideal solution for a country that still loves cash, but for people that want to try the functionality, security and compliance of digital banking.
This is the appeal to consumers, but the main priority for operators will be saving on fees – which can be extortionate for some vendors. Unlike other cash to card services, MuchBetter’s fees are taken at the retailer level, not by the operator. The service also offers free p2p transfers, a service that not all operators have been able to provide.
How to get the MuchBetter E-Wallet
Any customer aged 18 or over can download the MuchBetter E-Wallet for free, and customers in Italy can now visit one of 15,000 available stores and exchange cash or card at the till for prepaid vouchers to top up their MuchBetter E-Wallet account. •
Find out more on the MuchBetter website https://muchbetter.com/it/
ricarica/
