This company provides cashless payment solutions tailored for the gaming and hospitality industries. Their technology enables secure and convenient digital transactions within casinos, hotels, and related businesses, improving the customer experience and operational efficiency.
Funding
Funding not disclosed
Founders
Product
Problem
Gaming and hospitality industries face challenges with traditional payment methods, including security risks associated with cash handling, inefficiencies in transaction processing, and limited options for cashless and digital payments. Patrons often experience inconvenience due to reliance on ATMs and physical cards, while operators struggle with high transaction fees and complex integrations with existing systems.
Solution
Koin Payments provides a suite of cashless payment solutions designed to streamline transactions and enhance the user experience within the gaming and hospitality sectors. The Koin Wallet offers patrons a mobile account accessible via iOS and Android, which can be funded through various methods, including direct deposit, ACH transfers, credit/debit cards, and mobile wallets like PayPal and Venmo. For operators, Koin Konnect serves as a bilateral payment gateway to optimize funds flow between patrons and wagering systems, while the Koin Payment Network facilitates integration between payment systems and wallets, reducing processing charges through a closed-loop network. These solutions enable secure, efficient, and versatile payment options for both patrons and operators, promoting a seamless transition to a cashless environment.
Target Audience
The primary target audience includes casino and resort operators seeking to implement cashless payment solutions, as well as gaming patrons desiring a convenient and secure method for managing funds and transactions.
Features
- Mobile wallet application for iOS and Android, enabling patrons to manage funds and transactions.
- Multiple funding options, including bank transfers, payroll direct deposit, debit/credit cards, and mobile wallets.
- Koin Konnect: A bilateral payment gateway optimizing funds flow between patrons and wagering systems.
- Koin Payment Network: Facilitates integration between payment systems and wallets/funding sources.
- Physical and virtual Mastercard options for versatile payment methods.
- Integration with existing casino management systems (CMS).
- Comprehensive program auditability and reporting features for operators.
- Advanced security measures, including encryption and data protection, to safeguard user data and financial transactions.
- Open network (Visa/Mastercard) and closed-loop payment options.