Interview on Global Payments and Cashless Payments

Participants

• Tim (Interviewer)
• Chris

Key Topics

1. Introduction and Background

   • Chris has spent 25 years in the payment solutions industry.
   • Worked for Ingenico, First Data, Concord AFS (acquired).
   • Worked with major companies like Walmart, Amazon, Best Buy, McDonald's, Nordstrom.
   • Member of American Gaming Association, IDEA, Fintech Atlanta, BWG Strategy.
   • Joined Global Payments in 2017 to transform the gaming industry.

2. Global Payments' Innovations in the Gaming Industry

   • Financial Center: Automates financial transactions in casinos.
     • Eliminates long lines and face-to-face transactions.
     • Enhances customer satisfaction by moving transactions closer to games.
   • Mobile Cashless Funding: Single casino-branded app for transactions across resorts.
     • Trusted device with bank-grade security for seamless transactions.
     • Reduces change management for casino operators.
     • Similar user experience to other digital-first solutions.

3. Impact of the Pandemic on Cashless Payments

   • Pandemic ignited the need for safer mobile interactions.
   • Rapid growth in mobile payment solutions, growing more than 30% annually.
   • Cashless payments are expected to be a long-term change in the industry.
   • Comparison to Pay at the Pump technology adoption.

4. VIP Mobility and its Benefits

   • VIP Mobility: Simplifies consumer payment processes.
     • Easy sign-up and start process via app stores.
     • Options to fund accounts with various financial sources.
     • Enhances consumer and operator experience.
   • Ensures high security with bank-grade security measures.
   • Compatibility with existing casino systems to reduce operational complexity.

5. Challenges and Solutions in the Industry

   • Importance of human elements alongside technology.
     • Gaming experience relies on human interactions (e.g., dealers, servers).
     • Real humans 24/7 for customer support, ensuring first call resolution.
   • VIP Financial Center and VIP Preferred for seamless financial transactions in casinos.

6. Security and Customer Support

   • Leverages bank-grade security with encryption and multi-factor authentication.
   • Focus on preventing physical security issues from large cash amounts.

7. Partnerships and Ecosystem Integration

   • Partnership with Engage Nation for digital customer engagements.
   • Integrated ecosystem of products for seamless user experience.
   • Significant increase in volume and enrollment through digital engagement.

8. Recognition and Awards

   • Chris's nomination for a Global Gaming Award at GGA Las Vegas.
   • Reflects on the team's hard work and the real-world impact of their solutions.

Conclusion

• Emphasis on delivering working solutions over theoretical ideas.
• Focus on consistent user experience and operational simplicity for operators.