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Feature: Cash Is Dying, But Casinos Remain Slow To Respond To New Payments

Fintech is one of the fastest growing areas in the innovation economy, but payments executives warn that the casino industry is not keeping pace with the trend towards digital transactions.

Fintech attracted nearly $25bn in total investment in 2016, according to the professional services firm KPMG, while the likes of PayPal, Apple Pay, Android Pay and Venmo have become widespread mobile payment and digital wallet services.

But if you are excited about being able to use any of these new technologies in a casino anytime soon, you are probably going to have to wait a little while longer.

While other industries are removing cash from customer payment options, casino gaming remains a notable exception, as technological and regulatory limitations have slowed the pace of creating a cashless casino.

“In my daily life, I have absolutely no need for cash until I come into a casino,” said Omer Sattar, co-founder and executive vice president at Sightline Payments.

Sightline estimates that 95 percent of gaming play in the United States is conducted in cash, while Federal Reserve data shows that 88 percent of people carry less than $100 in cash on them at any given time.

“Those two things don

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