Vegas using contactless payments for greater security

eMoney News reports that the added security of contactless smart card payments make this facility a better bet for punters, and that it is already making inroads into the market in Las Vegas.
Contactless payment systems (also known as “touch and go”) are credit cards, key fobs, smartcards or other devices which use RFID (radio-frequency identification) for making secure payments. The embedded chip and antenna enable consumers to wave their card or fob over a reader at the point of sale.
Some suppliers claim that transactions can be almost twice as fast as a conventional cash, credit, or debit card purchase. Because no signature is typically required for purchases under US$25, research indicates that consumers are likely to spend more money due to the ease of small transactions.
Gamblers will be able utilise a multitude of cashless payment options on new Internet Lottery Terminals (ILTs), with sixteen separate games available on the web-based server, Your Guide has reported.
Additionally, using the cashless payment services will allow players to take advantage of financial and accounting tracking systems so that they are aware how much money they have spent or won on the machine.
The January edition of Popular Mechanics reported that contactless devices are currently helping Las Vegas casinos to track their accounts in real-time.  According to the publication, this is helping management to track money in the casino and prevent the use of fraudulent chips.
The latest Internet Lottery Terminals are offering gamers the option of paying contactlessly, according to Squidcard.com. Sixteen separate games are currently available on a Web-based server that accepts a multitude of cashless payment forms. The server will also enable players to track how much money they have spent or won on a particular machine.

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