By Jonathan Michaels, AGA’s senior director of member services

The casino industry is truly the embodiment of the 21st century hospitality industry, leveraging cutting-edge technology, creating new cross-sector business opportunities and driving innovative entertainment forward. Why, then, do we operate in a model that requires customers to bring cash to enjoy the great products on casino floors?

Public support for the gaming industry is rising, and almost half of all Americans (49%) plan to visit casinos in 2020. Today’s customers are accustomed to paying for goods and services with a card or their phone. According to the FDIC, only 30% of all payments in 2017 involved cash. So, I imagine many first-time casino goers are surprised to discover a cash-only payment system on the casino floor.

Customers should have the same seamless payment experience that they have in their day-to-day-lives on the casino floor. Giving our patrons a choice in how they pay won’t just enhance their experience. With today’s technology, we can empower consumers with the tools they need to set budgets, time limits, and other safeguards that promote responsible gaming.

We can give law enforcement and regulators new tools to identify behavior like fraud and money laundering. Digital payments create a record that can track money movements far more accurately and quickly than cash. And, working with regulators, digital transactions can enhance the robust anti-money laundering and Know Your Customer activities already underway at every casino in America.

Whether it be providing customers with the same payment choices they have in their daily lives, engaging law enforcement and regulators with more actionable intelligence to target nefarious behavior, enabling suppliers to create better, more innovative products, or allowing casinos to transform their guest experience, modernizing payment options within casinos has the ability to be a win for all parties.

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