Digital Transformation in Hospitality & Gaming
The future is now!
We are all aware of the current ‘cashless’ gaming trials about to take place, but Digital Transformation means much more than that. Driven by guest expectations and market forces, Digital Transformation for the hospitality and gaming industry is already impacting day-to-day operations and experiences.
However, it is not as scary nor as expensive as it might sound. The term Digital Transformation means the accelerated adaptation of existing technology applications, not some futuristic technologies. Central to these applications is something common to us all – the mobile phone.
The Digital Wallet – Meaning and Functions
Digital wallets are financial platforms that help users make online payments using their mobiles. They generally store a user’s payment information and credentials – including credit card and debit card details – and facilitate payments without the need to carry a physical wallet.
In addition, a digital wallet can also store membership cards, gift cards, loyalty cards, identification cards, event tickets, coupons, or vouchers and even plane tickets. Digital wallets can be in an app format or serve as wallets in platforms such as Google Pay or Apple Pay, for example. They work as an electronic version of your physical wallet and authenticate your payment through encryption to securely send money from a customer to a merchant, for instance.
It is easy to see how having a digital membership or loyalty card, housed in a digital wallet, would be a natural transition for a club, pub, or casino. Apart from the identification and payment solutions, and through third-party integration, you also have the ability to store and pay via members points, play games or enter contests, and even access player activity statements. You can also send targeted messages, offers, bonus points, vouchers, etc., either via geolocators or a predetermined set of qualifying rules through a loyalty program. And you can do all that without the need to develop an expensive app, although all of the options can also work within an existing app if you wish.
Digital transformation is also having a big impact on back of house gaming operations, including compliance and regulatory reporting. Real-time mobile applications enable quick, easy logging of incidents, observations, and conversations, automating the Gaming Incident Register and protecting venues from expensive breaches while supporting industry best practice.
Facial Recognition Technology integration with automated alerts for excluded patrons, along with complete chronological reporting that provides a secure audit trail, meet all the requirements of the latest gaming regulations now and in the future.
Over 80% of Australians Using Digital Wallets
Australian consumers are leading the way in mobile wallet use and digital banking tools adoption, with higher numbers than the US or UK in moving away from cash and physical payment experiences. If you think your customers are not ready for digital transformation, think again.
Recent surveys have revealed some staggering statistics.
- 69% of Australians surveyed said they feel comfortable enough using a mobile wallet to leave their physical wallet at home, which is 23% higher than the number of Americans who said the same.
- Mobile wallet use is now twice as frequent as cash across Australia.
- In the last week, 69% of Aussies said they used a mobile wallet while just 34% said they used cash.
- More than 80% of Australians say they have used digital wallets in the past 12 months.
The pandemic played a big role in driving Australians towards mobile wallet use. Although historically we have been early adopters of payment technologies, this specific boost can be largely attributed to habits picked up when the Department of Health recommended Aussies to switch from cash to digital and to check-in digitally at every venue outside of their home.
*Sources: The State of Consumer Money Movement Report 2022 and GetApp Survey 2022