Euronet Worldwide, which is a global FinTech solution and payments provider, will be licensing its REN payments platform to Marker Trax to provide that company with transaction processing for its digital casino marker management system, according to a press release.
REN will be expanding its uses into the gaming market, according to the release. Casino patrons are estimated to spend $516 billion around the world, with $150 billion expected to be paid out in North America this year.
The spending encompasses markers, or casino credit, which offer convenience to patrons and boost “coin in” amounts at the electronic game machines and overall casino incomes, the release stated.
Marker Trax is a regulatory-compliant, cashless alternative to the usual markers, according to the release. It offers more convenience and comes with tools to manage marker underwriting and repayments. That way, money remains with the casino by way of tracking the marker in the patron’s digital account and then collecting funds at the end of a gaming session.
The Marker Trax solution also comes with a mobile app and website where users can apply for a marker and get a credit decision in minutes, the release stated. That does away with the manual marker issuing process usually performed by casinos, which is more time consuming and labor intensive.
REN will power many of the key features in Marker Trax, including patron identity verification, underwriting, processing payments, settlement, reporting and helping communication between Marker Trax and various credit bureaus, payment gateways and bank systems, according to the release.
In other news, there could be other digitized casino services coming soon. Sightline Payments Co-Founder and Executive Vice President Omer Sattar told PYMNTS that digital, cashless-only casinos might be a reality in the near future.
Read more: Sightline Payments Bets on Cashless Casinos for the Future of Live Gaming
Sattar said in the next year, there could be as many as 100 casinos nationwide with some form of cashless options, with 50% to 75% of casinos likely to adopt them within three years.
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