Hard cash still has pride of place within the gaming market comments Marcus Tiedt, sales director, Innovative Technology, but that is not to say the company is unprepared for developments.
Coinslot: Easy question to start – will cash always be king?
Marcus Tiedt:“We firmly believe that cash (coins and notes) still has a strong place in the gaming and amusement industry in the coming years.Being a global organisation,we are fully aware of country variations and in some regions,cash is very much still king.The World Cash Report by G4S in 2018 found that despite advancing technologies driving the rise in both mobile and electronic payments, cash is still by far the most widely used form of payment in all regions of the world – and the amount of cash in circulation continues to climb.”
CS: Which in itself presents a fresh challenge. What innovations are keeping pace with this and, more importantly, driving things forward to support the operational side of the business?
MT:“The introduction of Spectral Technology in our validators is an important and unique technological milestone. This technology includes full spectral imaging to validate the authenticity of notes offering exceptional protection against fraudulent and stained notes and best in class performance.
“With the Internet of Things transforming many organisations and industries,we are developing products that allow machine to machine connectivity to continually maximise cash efficiency.Enabling automation,producing analytics and exchanging data will help customers to stay ahead of the game and generate real efficiency benefits and cost savings. Our Live Collect system enables Operators to optimise cash handling and revolutionise collection efficiency by accessing real-time data and detailed status reports across multiple sites. Whilst saving time operators improve their cash flow significantly.
“In addition, there has been rise in digital and mobile payments in the industry and we are keenly watching the market to see how this trend will progress.We have responded to this trend by creating ReelPay,a new,secure app which allows customers to transfer funds to enabled gaming machines using their mobile.The app was fully tested in 2018 and is now freely available for installs across the UK.”
CS: As leaders in the cash handling sector, what feedback a ideas are you getting from operators about cash handling needs going forward?
MT:“At ITL we think it’s very important to be able to offer customers convenience and choice and this will become more and more important over the next decade. For operators, being able to provide a range of different payment options from coins to digital will be key to produce operational efficiencies and will fuel business growth. Security is also a consideration and producing highly secure validation products is, and will remain, at the heart of our core business.”
CS: What are the key elements their cash handling solutions? And how are these changing?
MT:“Modularity and customisation. Our modular approach to product design allows our customers to add recycling and ticketing functionality to their existing validators to generate greater cash handling efficiencies.
“And security.The use of Spectral technology to provide high resolution imaging is another example of how we use cutting edge technology to continually innovate,to stay ahead of our competitors and of course,the fraudsters.We can also offer our customers validators that have encrypted protocols ensuring a very high level of security.”