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New age payment technology and safety risks for Bulgaria, China and Finland

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The online casino industry is dedicating more efforts to increasing the safety of online casino gameplay.

The online casino industry is dedicating more efforts to increasing the safety of online casino gameplay.

The primary focus being encouraging responsible gambling and allowing for quick verification checks.

These elements are found in all aspects of the casino industry including the latest payment technology.

New ways of funding your casino gameplay are popping up in many regions across the globe allowing for speedy verification.

Payments technology promoting responsible gambling and quick verification.

Bulgaria's Cashterminal

In Bulgaria, Cashterminal is the system used and it provides a range of benefits. With Cashterminal you can pay for all services consumed with cash by visiting the nearest Cashterminal. There are no additional costs attached to these transactions.

The payments via Cashterminal can be made at any time of the day and there is no need for human interaction or unnecessary queues which speeds up the process. Instead of visiting separate stores or desks you can head to one point of payment and pay all expenses in one go. On top of that Cashterminal allows for quick transactions with additional protection and security measures in place.

For providers, it allows easier collection of revenue from remote locations ultimately removing the distance barrier between the payer and the provider.

Veikkaus implements ID verification controls

In mid-January 2021 the Finnish national gambling monopoly operator, Veikkaus, launched ID verification controls for gambling machines. The launch is part of the operator's new program to mitigate problem gambling.

With the new measures in place, anyone interested in taking part in gambling activities via the slot machines in these third-party locations needs to provide identification. The locations where these machines and necessary ID checks are put in place include stores, restaurants, and kiosks.

The verification of your ID can take place via a mobile app, Veikkaus player card or payment card which has been connected to the Veikkaus customer base. According to the latest updates the new changes will come into full effect with all Veikkaus slot machines soon.

Sales Director for Veikkaus, Jari Heino, spoke out on the new identification checks stating that the aim is to provide the right preventative tools for those at risk, struggling with gambling problems.

China combatting crime via facial recognition ATMs

In China, there is a deep-seated belief that gambling and crime go hand in hand and cannot separate. As such they have put in the effort to hunt down anyone promoting any form of gambling within its borders.

Among the many efforts is the implementation of ATMs with facial recognition technology. These new cash machines aim to monitor those who make excessive ATM withdrawals as well as run checks for crime-related activity. Recently it has been revealed that the constant ATM withdrawals are causing restlessness among the country officials who believe criminals are emptying machines for cross-border gambling, fraud, and other activities.

The new technology in place can help reduce crime while preventing non-cardholders to use their cards for illicit fund transfers.

Possible dangers of new-age payment methods

Digital payment methods, advanced technology and increased security are highly sought after in the gambling industry.

The biggest issue is to deter gambling-related crimes and increase the safety of online casino transactions.

These new-age payment methods and safety features like many others have a range of benefits but have not yet been proven 100% safe.

China's use of facial recognition ATM's is frowned upon by many as the use of facial recognition technology remains a touchy subject. The use of this technology in other parts of the world has led to lawsuits and significant disapproval.

Other things to take into consideration is payment technology such as Cashterminal, has money laundering possibilities. To mitigate such risks, it is necessary to have strict deposit limits in place along with the verification checks.

With an advance digital era comes the danger of new-age criminals. Money laundering and other gambling-related crimes will always be an issue if security measures and protocols focus on what has been done rather than implementing a new age of thinking.

Published: February 24, 2021

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Article by Stelly

CasinoWow Contributor

Hey there! I am Stelly, and happily, I'm part of CasinoWow's content team. It excites me to be able to write and share with all gambling enthusiasts unbiased reviews and news that contribute to the gambling community and industry. Thankfully, I also have the chance to help you make an informed choice for casino brands and games, as well as provide interesting guides and news.

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