The American Gaming Association (AGA) has released new Payments Modernization Policy Principles, reflective of an 18-month, collaborative industry effort, that provides a framework for regulatory flexibility allowing digital payments on the casino floor. The principles come at a time when the majority (57 percent) of past-year casino visitors report the option for digital or contactless payments on the casino floor is important to them because of the COVID-19 pandemic, according to a press release.
Early last year, the AGA convened a working group of members to evaluate the regulatory, processing, and consumer landscape related to expanding payment options on the casino floor. The Payments Modernization Policy Principles, the product of that collaborative effort, seek to educate state and tribal regulators who are considering expanding payment choice:
- Equip customers with more tools to wager responsibly;
- Give customers payment choice and convenience;
- Ensure state laws enable a flexible regulatory approach, capable of keeping pace with evolving forms of digital payments;
- Address heightened customer public health concerns;
- Provide customers confidence in digital payment security;
- Create a uniform regulatory environment for casino operators, suppliers, and regulators; and
- Empower law enforcement to better identify offenders through digital payment analysis.