Konami new cashless system to rival Trustly live

Is Konami’s new cashless system good enough to rival Trustly live?

Konami Gaming trials a new cashless payment solution at casinos in Las Vegas

Konami Gaming has recently debuted its new system of cashless casino slot markers at Ellis Island Casino in Las Vegas.

The trial saw each consumer given a Marker Trax slot credit line to use on any of the cashless solutions instituted by Konami within the casino. Konami Holdings has said that it is constantly looking for ways to increase the security of payments at land-based casinos in one of the world’s largest markets.

Ellis Island Casino will now allow players to register for cashless payments because of Konami’s system. The venue has also stated it will use Konami’s proprietor software, SYNKROS, to manage and operate cashless payments.

Konami believes that this launch marks the “first field trial” of cashless technology on a large scale. As well as obvious health concerns in the wake of Covid-19, Konami also believes that its system will meet other compliance targets, such as improving anti-money laundering measures.

Thomas Jingoli, executive vice president and chief operating officer at Konami Gaming, was quoted in an accompanying press release discussing the trial:

“Synkros has long supported cashless wagering and now we’re thrilled to work with Ellis Island Casino to take the technology even further through Marker Trax’s increased access to convenient slot credit.”

Konami’s new endeavor comes amidst a surge in popularity for cashless payment solutions in the land-based casino market because of the Covid-19 pandemic. The American Gaming Association (AGA) has revealed research that suggests that almost 6 out of 10 casino players have expressed interest in using digital or contactless payment in their daily lives because of the Covid-19 pandemic.

The AGA further revealed that it is looking to remove a lot of the red tape that surrounds cashless solutions, outlining plans to accelerate the rollout of systems like Konami’s in a policy framework.

The need for cashless solutions becomes even more obvious when you look at the situation in Las Vegas (where Konami trialed their new system). After re-opening, some casinos in the city were suddenly forced to close again due to rising numbers of Covid-19 cases – casinos like Ellis Island will be looking at cashless payments as a way to quickly get back up and running again.

Can Konami rival Trustly’s Live system?

Konami is not the only firm offering cashless options for casinos. Trustly has also recently launched its own cashless payment solution, Trustly Live, for the land-based, brick-and-mortar casino market. Using QR codes attached to the tables, players are able to directly send and receive funds through their bank account without the need for lengthy sign-up and transaction processes.

Similarly, Konami already has the popular SYNKROS operating system for casinos that includes cashless elements such as Money Klip, a system that allows players to load funds onto an account that can then be accessed at the slot machine terminal. This removes the need to keep loading money into a machine as the funds are there when the player needs them. This also means that jackpots can be quickly and securely deposited into a player’s account.

However, it’s unlikely that Konami’s system can rival Trustly’s at this stage given that this was only a first stage trial for them. This latest move does seem to demonstrate that more fintech firms are going to be looking for ways to appeal to the land-based casino markets though, with this search further accelerated by the coronavirus.