Vantiv enters gambling market via prepaid

Top ten U.S. acquirer Vantiv Inc. continued its expansion into the prepaid card industry with a card program that targets the gambling market. With Las Vegas-based Sightline Payments, which specializes in payment solutions for the gambling sector, Vantiv unveiled a prepaid card designed to leverage casinos' existing loyalty card programs for a more convenient and streamlined solution for gamblers and casino operators.

At the Global Gaming Expo 2013 held Sept. 23 to 26 in Las Vegas, Vantiv and Sightline exhibited the Loyalty Card Plus prepaid card. The card features Vantiv's closed-loop SPAN network that is able to leverage a casino's existing loyalty card to access prepaid funds and allow for real-time wagering using the cards.

The card can be used to purchase chips at casinos and buy slot tickets from self-service kiosks. Additionally the card can be employed on online gambling sites. Vantiv said one of the benefits of the card is that when gamblers win jackpots, they get winnings loaded directly onto the cards rather than cash or checks.

For casino operators, Loyalty Card Plus provides insights into cardholders' gambling habits. "The prepaid card gives casino marketing a better view of what patrons are spending their money on both inside and outside the casino," Vantiv said. "Marketing can use that intelligence to better incentivize patrons with the things they really value. And, they can put those incentives directly into the prepaid account."

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