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8.17 million people at risk of exclusion in a cashless society

George Miller

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8.17 million people at risk of exclusion in a cashless society
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  • At least 8.17 million people are at risk of digital exclusion in the UK, including the elderly, homeless and mentally ill, new research shows.

  • Global Payment Trends reveals the financial and societal impacts of going cashless, as society shifts towards exclusively digital transactions in 2018. 

  • 320,000 people are estimated to be homeless in the UK, while another 1.3 million adults don’t have access to bank accounts. 

 

Cash usage is in decline in every region around the world, with eWallets, credit cards and bank transfers becoming the most popular payment methods in 2018, new research shows.

Analysis has revealed that if current trajectories towards digitisation continue, 8.17 million vulnerable members of society would suffer due to their dependence on physical payment methods. This includes 5.2 million households, or 80% of elderly homes, that rely on cash.

Also at risk of digital exclusion in the UK are the 320,000 estimated people living rough on the streets, 1.3 million adults without bank accounts and 1.352 million people with physical or mental health issues.

Global Payment Methods collates official reports to reveal the potential societal repercussions of digital exclusivity, whereby coins, banknotes and cheques are replaced by eWallets, cryptocurrencies and bank cards.

This rise in alternative payment methods has also led to a decline in ATMs, with the number in the UK dropping from 54,000 to 49,700 between January 2018 and July 2019 alone.

Since 2015, digital payment methods have risen to meet the needs of online shoppers, with eWallets and bank transfers the most popular in 2018. Cash is forecasted to be replaced by debit card as the leading payment method by the end of this year.

Percentage of transactions paid for with cash in the UK

Country

2016

2017

2018

Total % change

UK

9%

9%

7%

-2%

 

This predicted shift would have detrimental societal impacts worldwide, with 1.7 billion adults without access to a bank account, 100 million people reported to be homeless and 617 million people aged 65 and over around the globe – many of whom will struggle to go digital.

There are 450 million people currently suffering from mental or neurological disorders according to the World Health Organization (WHO), with one in four people predicted to be affected by mental illness at some point in their lives.

These figures mean that a staggering 1.875 billion people could be isolated from a digitised society at any one time, due to mental health problems alone.

WHO has pleaded for governments to provide affordable treatments for mental health, as two-thirds (67%) of people with a known disorder never seek help from a health professional. Currently, at least 40% of countries have no mental health policy and over 30% have no mental health legislation.

Establishing affordable and equal access to mental health treatments is more important now than ever before, with the latest figures implying that debit cards, credit cards and eWallets will eradicate cash usage by 2022.

Helen Undy, Chief Executive of the Money and Mental Health Institute, said: “When you’re struggling with your mental health it can be much harder to stay in work or manage your spending, while being in debt can cause huge stress and anxiety – so the two issues feed off each other, creating a vicious cycle which can destroy lives.

“Ensuring that money advice is routinely offered to people using mental health services would increase recovery rates, as well as improving the financial wellbeing of the 1.5 million people currently dealing with this terrifying combination of problems.”

To read more about the impacts of digital exclusion in Global Payment Methods, visit: https://a2zcasinos.org/global-payment-trends

 

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Klirr Pay N Play Casino Set to Go Live This September

Niji Narayan

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Klirr Pay N Play Casino Set to Go Live This September
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Klirr.com, a pure new Trustly Pay N Play casino brand, is set to go live this September. The new iGaming venue is entirely localised for and will attract players from Finland and Sweden, two of Scandinavia’s most lucrative markets.

Klirr will be going live with a relatively rich catalogue of gaming titles from some of the finest game creators and suppliers in the industry.

The new online casino will give its players access to more than 1000 games from the likes of Big Time Gaming, Kalamba Games, NetEnt, Red Tiger, Evolution Gaming, Relax Gaming, Stakelogic and more when it goes live this coming September. Slots, table games and live casino titles will be included in games to become available.

Powered by the iGaming platform of The Mill Adventure, Klirr has been developed with a focus on web, promising gaming experience for “snappy” players. The website will provide help via email and live chat 24/7.

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Danske Spil and Shape Games land EGR Awards hat-trick

George Miller

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Danske Spil and Shape Games land EGR Awards hat-trick
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Danske Spil’s mobile sports betting app, provided by leading digital product studio Shape Games, has been named ‘Best Native App’ at the EGR Marketing and Innovation Awards for the third year in a row, while also picking up the award for best ‘Best Omni-channel Solution’.

The fully native app, live in Denmark under the Oddset brand, won big once again at the prestigious awards, having previously been recognised in 2018 and 2019.

During 2019, Oddset saw a 20 percent increase in monthly revenue, while rolling out its ‘Loyalty Suite’ layer, adding personalised insights and social mechanisms to the app.

Danske Spil’s strong mobile sportsbook offering, provided by Shape Games, also won the ‘Best Omni-channel Solution’ award and was nominated for the ‘Innovation in Sports Betting’ category.

Nicolas Linde, partner at Shape, said: “Fully native mobile applications are now an essential for any forward-looking operator, and we’ve been innovating in this field for several years now.

“It is an honour to be recognised by our industry peers at the EGR Marketing and Innovation Awards, and we will continue to find creative ways to develop an even stronger mobile product for our operator partners.”

Frederik Skov, Head of Sales and Loyalty at Danske Spil, said: “The collaboration between Danske Spil and Shape has turned out to be something akin to a fairy tale since we started this journey together. Winning these two awards will only spur us on for more.

“Over the past five years we have continuously improved the products, polished the existing features and added new ones as well. Winning tonight is one of the results of this joint team effort.

“We have known for a while that we are on the right path with our offerings. The customer reaction to our dynamic, modern and personalised user journey has been encouraging on every level.

“Winning the award for Best Omni-Channel Solution is something that makes we very happy personally. Omni-channel is difficult to get right, and we have been working on it for a long time but the results are clear for everyone to see. Our customers can access our services wherever they are; on the go, at home or in the store, and their response has been beyond positive.”

 

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AC Milan and Electronic Arts announce exclusive premium partnership

George Miller

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AC Milan and Electronic Arts announce exclusive premium partnership
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EA SPORTS FIFA develops long-term partnership with one of european football’s most decorated clubs

Today, Electronic Arts (EA) and AC Milan have announced a multi-year partnership which enables both brands to deliver innovative, world-class entertainment for their global audiences. For the first time in AC Milan’s history, only in EA SPORTS™ FIFA will players have the opportunity to compete as the Rossoneri in the iconic San Siro Stadium.

“This partnership with AC Milan is a testament to our commitment to bring more authentic interactive experiences to sports fans across the globe” said Nick Wlodyka, Vice President & GM, EA SPORTS FIFA. “As a highly decorated and iconic football club, we look forward to offering AC Milan fans many years of innovative and interactive FIFA experiences to come.”

Casper Stylsvig, Chief Revenue Officer of AC Milan said: “We are delighted to welcome EA SPORTS to the AC Milan family as a Premium Partner. This partnership is symbolic of our commitment to delivering world class interactive experiences to our fans all over the world. As a market leader in the world of gaming, in EA SPORTS we have the perfect partner to help us continue on our journey of engaging and exciting the next generation of Rossoneri fans.”

Through Rossoneri legends Kakà and Andriy Shevchenko, EA SPORTS FIFA and AC Milan have enjoyed a strong relationship on-and-off the field for years. AC Milan is currently one of the most popular clubs for in-game play.

 

 

 

 

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