Business
REN Payments Platform from Euronet Worldwide, Inc. to Power Marker Trax™ Digital Casino Marker Management System
Solution to serve physical casinos as well as online casinos and sports betting operators LEAWOOD, Kan., Sept. 28, 2021 (GLOBE NEWSWIRE) -- Euronet Worldwide,
About this update from Euronet Worldwide, Inc.
[{"type":"text","content":"Solution to serve physical casinos as well as online casinos and sports betting operators\nLEAWOOD, Kan., Sept. 28, 2021 (GLOBE NEWSWIRE) -- Euronet Worldwide, Inc. (NASDAQ: EEFT), a leading global financial technology solutions and payments provider, announced today it will license its REN payments platform (REN) to Marker Trax, LLC, of Las Vegas for use in the company’s cloud environment where it will provide transaction processing and other core functionalities for a ground-breaking digital casino marker management system. The project expands REN’s use cases from traditional financial services into the gaming market where casino patrons are forecasted to spend $516 billion globally and about $150 billion in the North American market in 2021.1 Part of this expenditure includes markers (casino credit) that offer convenience to patrons while increasing “coin in” amounts at electronic gaming machines and overall gross gaming income for casinos. Marker Trax is a first-of-its-kind, regulatory-compliant and cashless alternative to the traditional casino marker. In addition to convenience for players, Marker Trax provides casinos with the tools to manage marker underwriting and repayments, ensuring money remains with the casino by tracking the marker in the patron’s digital account and collecting funds at the end of each gaming session. The Marker Trax solution includes a mobile app and website that casino patrons use to apply for a marker and obtain a credit decision within minutes, replacing a manual marker-issuing process casinos have historically used that is time-consuming for patrons and labor intensive for casino cashiers. After refining its concept in recent years, Marker Trax recently received approval from the Nevada Gaming Control Board. Many prominent casino operators have committed to the Marker Trax program following the successful implementation of the solution at other casinos in California and Nevada. Marker Trax now is turning to Euronet and REN to deliver its digital marker management system to the broader North American and global casino market. Once fully implemented in the Marker Trax cloud environment, REN will provide scalability for a growing user base and transaction speed for enhanced user experiences. REN will also power many key features in the Marker Trax solution including patron identity verifications,...