The Payments Taskforce of the European Gaming and Amusement Federation (EUROMAT), which represents the interests of the amusement and low-cost gaming machine industry, has today published a new report illustrating the range of innovative payment solutions in use in Europe in the amusement machine sector. The report, available here, features case studies from the Netherlands, UK and Spain, demonstrating how the industry is balancing innovation with payments legal obligations.
The most recent study conducted by the European Central Bank reveals that, in 2022, consumers opted for cash in just over half of point-of-sale (POS) transactions, a significant decline compared to the substantial 79% observed in 2016. EUROMAT is concerned that regulation in many parts of Europe is not keeping pace with market realities, with rules prohibiting payments by means other than cash or making their introduction practically difficult.
Reflecting on the final version of the Payments Report, the Chair of the Payments Taskforce, Greg Wood of BACTA, noted that: “There are already many emerging practices in Europe that are adding value for players and venues. However, we would like to see more cooperation from regulators to understand what more can be done to ensure players have the best possible experience. This means keeping up with the rest of the leisure world and offering customers the variety of options they would expect anywhere else.”
Jason Frost (pictured), President of EUROMAT, added: “We are a cash-based business and should always be able to offer this option to players, but we need to move with the times and, like any other legitimate business, we should be able to offer customers the convenience of other payment methods. We risk becoming the only venues on the high street that can only accept cash, at a time when the public carries less of it.”
