Endorsed by Regal and Gamestec, independent company Two Cherries Technologies is well on its way to launching an industry-wide cashless payments solution that would significantly shift the Cat C pub landscape.
Two Cherries Technologies, created by IHL duo Howard Gant and Peter Hannibal, has announced its plan to launch a cashless payments solution for pubs, AGCs, bingo halls and LBOs.
In the form of a smartphone app, the independent solution intends to answer the industry’s unanimous call for a one-size-fits-all digital payment method. This, however, will only become viable after Two Cherries Technologies secures a critical mass of support from both operators and manufacturers – an endeavor that has already began with the significant backing of industry giants Regal and Gamestec.
Outlining the inspiration for the Two Cherries app, Gant said: “With cash payments now making up less than 40 percent of all pub transactions, the industry needs an independent company to provide an alternative payment solution for its players that prefer to pay digitally. As 96 percent of adults now carry smartphones, this is the obvious platform on which to launch the Two Cherries payment solution. Importantly, it will also allow us to implement enhanced player protection measures into the app, as well as increased Know Your Customer and AML functionality.”
There is no doubt from within the industry that the increasingly cashless pub environment is having a compound effect on player numbers. Opening up the market to an expanded playerbase of cashless-only consumers, the Two Cherries app has the potential to stop this decline in its tracks – but only if the whole industry gets behind it. From his position as CEO of IHL, Gant has already made strong headway in this regard, recruiting the sizeable support of both Regal and Gamestec.
Explaining the need for the Two Cherries app to be both independent and widely supported, Gant said: “The industry is unanimous in its request for a single cashless solution that will operate across all retailers, including in AGC, Bingo, and LBO environments. For that to work, an independent solution is required from a company independent of any operators or manufacturers. At the same time, a critical mass of support is essential to make the app viable, as there are significant cost implications involved with setting up and maintaining such a comprehensive, robust and future-proof solution. We are in conversations with operators and manufacturers across the country in order to gain that support, and crucially, IHL have already signed up both Regal and Gamestec as guaranteed users, which will go a long way to securing our critical mass requirement.”
While there is a strong suspicion within the pub sector that the cashless problem is taking a large segment of patrons out of the picture, no data exists for how many potential players approach a machine only to remember they no longer carry cash. However, if the percentage of pubgoers that now make cashless payments is anything to go by, the Cat C landscape could be in for a significant shift once it can accept digital payments. Indeed, after missing a stake and prize lift in the recent Triennial Review, the proposed smartphone app from Two Cherries could be the game-changer needed to bring pub machines back up to peak performance.