Koin Payments Company Profile

Background

Overview

Koin Payments is a financial technology company specializing in cashless payment solutions tailored for the gaming and hospitality industries. Founded in 2020 and headquartered in Las Vegas, Nevada, Koin Payments aims to revolutionize the gaming payment experience by offering seamless and secure digital transaction methods for patrons and operational efficiency for casino partners.

Mission and Vision

Koin Payments is committed to transforming payment and loyalty systems across the gaming and hospitality sectors. Through innovative open and closed network payment and data solutions, the company empowers partners to deliver exceptional customer experiences while achieving operational excellence. Their vision is to create a world where patrons enjoy elevated entertainment and recreational experiences through integrated and seamless play and pay solutions.

Industry Significance

Operating within the fintech and gaming sectors, Koin Payments addresses the growing demand for cashless transactions in casinos and resorts. By providing a secure and user-friendly mobile application, Koin facilitates effortless funding and real-time account management, enhancing patron satisfaction and streamlining casino operations.

Key Strategic Focus

Core Objectives

Innovation: Embrace change and foster creativity to challenge the boundaries of technological advancements in payment solutions.

Excellence: Pursue the highest quality in all endeavors, delivering exceptional products and services that exceed customer expectations.

Ownership: Encourage initiative and responsibility at all organizational levels, empowering team members to contribute to the company's success.

Collaboration: Foster a collaborative environment where diverse perspectives lead to extraordinary outcomes.

Areas of Specialization

Koin Payments specializes in providing cashless payment solutions within the gaming and hospitality industries, focusing on:

Digital Wallet Services: Enabling patrons to fund activities from various sources, track spending, and manage account balances in real time.

Flexible Funding Options: Allowing users to add funds via direct deposit, ACH, payroll deposit, credit or debit cards, Venmo, PayPal, Apple Pay, or cash at participating retailers.

Seamless Payment Experiences: Offering digital and physical card options for in-person and online transactions.

Key Technologies Utilized

Koin Payments employs a range of technologies to support its services, including:

Mobile Application Development: Creating secure, user-friendly interfaces for cashless transactions.

Payment Processing Systems: Integrating with various payment networks to facilitate seamless transactions.

Security Protocols: Implementing state-of-the-art security measures to protect user data and transactions.

Primary Markets Targeted

Koin Payments primarily targets the gaming and hospitality sectors, focusing on:

Casinos: Enhancing patron experience through cashless payment solutions.

Resorts: Streamlining payment processes for guests and staff.

Hospitality Venues: Providing flexible and secure payment options to improve operational efficiency.

Financials and Funding

Funding History

As of November 2025, Koin Payments has not publicly disclosed any funding rounds or external investments. The company has maintained a self-funded approach, focusing on organic growth and reinvestment of revenues.

Financial Performance

In 2025, Koin Payments reported a revenue of $7.2 million, achieved with a team of 56 employees. This reflects the company's expanding user base and increasing adoption of its cashless payment solutions within the gaming and hospitality industries.

Pipeline Development

Key Pipeline Candidates

Koin Payments is continually enhancing its product offerings, focusing on:

Mobile Application Enhancements: Improving user interface and experience to facilitate seamless transactions.

Integration with Additional Payment Networks: Expanding compatibility with various payment methods to offer users more options.

Advanced Security Features: Implementing cutting-edge security protocols to ensure transaction safety.

Stages of Development

The company is in the continuous development phase, with ongoing updates and improvements to its digital wallet services and payment processing systems.

Target Conditions

Koin Payments aims to address the following conditions:

Operational Inefficiencies: Streamlining payment processes to reduce transaction times and costs.

Security Concerns: Enhancing transaction security to build trust among users.

User Experience Challenges: Providing intuitive and accessible payment solutions for a diverse user base.

Anticipated Milestones

The company plans to achieve the following milestones:

Product Launches: Introducing new features and integrations to enhance service offerings.

Market Expansion: Entering new geographic regions to broaden the user base.

Partnerships: Forming strategic alliances with industry leaders to strengthen market position.

Technological Platform and Innovation

Proprietary Technologies

Koin Payments has developed proprietary technologies, including:

Digital Wallet Application: A secure, user-friendly mobile app facilitating cashless transactions.

Payment Processing Infrastructure: A robust system supporting various payment methods and networks.

Significant Scientific Methods

The company employs advanced security protocols and encryption methods to ensure transaction safety and data protection.

AI-Driven Capabilities

Koin Payments utilizes machine learning algorithms to detect and prevent fraudulent activities, enhancing the security and reliability of its payment solutions.

Leadership Team

Executive Profiles

Gary Ellis: Co-Founder

Gary Larkin: Co-Founder/President

Maner Puyawan: Co-Founder/Chief Innovation Officer

Bob Woodbury: Chief Operations Officer

Mark Hemmerle: Chief Legal Officer

Mark Morton: SVP of Sales

Tiffany McGrath: VP of Corporate Communications

Charlie Skinner: Strategic Advisor

Professional Backgrounds and Contributions

The leadership team comprises industry experts with extensive experience in gaming, financial services, payments, and technology development. Their collective expertise drives Koin Payments' mission to innovate and excel in the cashless payment solutions sector.

Competitor Profile

Market Insights and Dynamics

The cashless payment solutions market within the gaming and hospitality industries is experiencing significant growth, driven by increasing demand for secure and efficient transaction methods. This expansion presents opportunities for companies like Koin Payments to capture market share and drive innovation.

Competitor Analysis

Key competitors in this space include:

Everi Holdings Inc.: A casino operations company offering digital payment systems.

Bamboo Payment Systems: A digital payment processor serving the Latin American market.

These competitors provide similar services, such as digital wallets and payment processing solutions, and are actively engaged in expanding their offerings and market presence.

Strategic Collaborations and Partnerships

Koin Payments has engaged in strategic partnerships to enhance its service offerings:

Bamboo Payment Systems: In October 2021, Koin partnered with Bamboo Payment Systems to implement its advanced anti-fraud platform, enhancing security and conversion rates for Bamboo's LATAM merchant network.

Operational Insights

Koin Payments differentiates itself through its focus on the gaming and hospitality sectors, offering tailored cashless payment solutions that integrate seamlessly with existing systems. This specialization allows the company to address unique industry challenges and provide value-added services to its partners.