Regulators Recommend Mobile Payments To Prevent Coronavirus Exposure
Because of the fear of infection, people became vigilant and avoided person-to-person transactions. Online services are at boom during the lockdowns. People relied on the internet to purchase goods and avail services.
Digital payment gained popularity as people get hooked with online purchases of food and other necessities. Retail stores and other businesses saw the crisis as a chance to upgrade their modes of payment to digital. Tech companies started developing software that allows businesses to transact and accept payment from clients through their mobile phones and other gadgets.
Cashless payments in the casino floors
Casinos accept payments from cards but still reliant on cash in every transaction. Cash payments require physical contact between dealers and guests. Therefore, it increases the risk of the transfer of viruses. Contamination inside the casino could be lessened if casinos operate with cashless payments.
Cashless payments lessen person-to-person physical contact, decreasing the risk of virus transfer. No states in the US allowed cashless payments on the casino floor, but the novel coronavirus might pave the way for the use of the mode of payment.
The Centers for Disease Control and Prevention expressed their approval for digital payments to prevent the spread of the deadly virus. The regulating body would like to limit handling cash in the casino floors. The regulator’s decision might pave the way for new laws that permit mobile payments and digital wallets in the gambling institutions as they curb the spread of the novel coronavirus.
On June 25, the gaming regulators in Nevada will meet to discuss the possibility of using cashless payments in the gambling venues.
Gamblers are less likely to use cash because of coronavirus
The American Gaming Association reported on Tuesday that fifty-nine percent of people who went to casinos in the previous year are less likely to use cash in their everyday transactions because of their fear of the novel coronavirus.
The trade group revealed that customers were hesitant to use cash in the casino floors because of health and safety concerns. The group recommends using an alternative mode of payment.
Bill Miller, the association’s CEO, urges tribal leaders, legislators, and regulators to consider lifting restrictions on the use of cash alternatives in the casinos. The CEO explained that the industry has been far too reliant on cash and needs some modernization.
Jay Snowden, Penn National Gaming CEO, said they are probably the last industry to use cash in transactions. The CEO revealed that they are working with industry regulators to accelerate their plans to digitize payments in the casinos.
Mobile payments are already a trend in online sports betting and gaming. Online gaming attracts gamblers with their accessibility and ease of payment methods. People want fast and secure transactions as they enjoy fun and exciting casino experience.
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