London-based Passport Technology Ltd. announced today that they will soon make their CashValet® and POSpod™ cash delivery systems available to land-based casinos in the highly regulated Canadian gambling market. The products are seen to be valuable to Canadian operators in terms of responsible gambling, Anti-Money Laundering (AML) requirements, and player privacy while setting a new criterion for stability and performance.
Mainstream and niche news sites have been reporting for several months on the challenges facing casinos that aim to attract high rollers and still remain within requirements and regulations. Licensed online casinos also adhere to strict know your customer (KYC) and AML requirements.
CashValet was debuted as an ATM solution in the UK and other European locations in June 2017 to deliver maximum cash to casino floors. A press release at the time noted that: “Real-time analytics improve AML and patron value, leveraging the “Single Source Partner Program” (SSPP) for cleared funds on deposit. Passport Technology’s cash-in-transit, site-fill and custom-cash ATM replenishment provide operators maximum flexibility and operating efficiency,” according to PRNewswire.
Dispensing cash is only one element of the CashValet system, which was built specifically for highly regulated casino markets. The system is cloud-based with complete control from several access points including web portals, user interfaces, and POSpod interaction points.
Kurt Sullivan, Chief Operating Officer at Passport Technology said today: “Together with our Canadian partners— and in consultation with many constituents — we developed a solution delivering immediate operational, financial and social impacts to the operators and communities we serve.” He continued, “Combined with our rich history in the Canadian marketplace and commitment to forward development, we are excited to establish CashValet and POSpod as the new industry benchmark.”
Passport Technology Chair, Scott Dowty spoke of the product suite receiving a lot of attention in Europe and elsewhere while touching on how important it was to the company to bring the products home. He added, “A majority of our shareholders including myself are embedded in communities across Western Canada and Ontario. This is a true homecoming for Passport Technology and a great example of Canadian innovation and perseverance.”