With each passing year, more and more events are going completely cashless. It’s not just a convenience for event operators who no longer have to deal with cash in sometimes insecure locations. For attendees, cashless means shorter lines!
Saving Time with Cashless Payment Technology
Time is one of the major factors that come into play when we talk about cashless events. Someone who makes a cashless payment is guaranteed to complete the transaction much faster than somebody who is using actual money. Fiddling with bank notes and coins can take up precious time.
A fine example of a cashless payment system that received a big thumb’s up from the clients is RFID. Launched in 2011, RFID’s CEO Serge Grimaux said how he saw a gap in the market and followed through by creating the product. Since then, some of the world’s biggest dance/music festivals like Tomorrowland and have benefited from cashless events.
Below are some examples of companies joining the cashless events revolution and how they are doing it:
- Coachella – Several music festivals made the switch already, including Coachella which uses the Square mobile wallet reader.
- Drifters Festival – Using Cake Technologies makes is easier for attendees to acquire tickets.
Additional benefits of cashless payments include:
- Fast operation
- Reduced queuing
- No cash handling floats
- No risk of theft
- Higher turnover
There is no need for the event attendee to worry about losing their money when they are dancing to Martin Garrix at Tomorrowland, thanks to cashless payments. As a result, the party-goer has a better time and will be more likely to acquire drinks, minus the queues. You can imagine just how much of an impact cashless payments could have on retail stores and restaurant chains when you see it from the perspective of an event attendee.
Amplifying Brand Awareness
The success of a business is dependent on give and take. Cashless events provide your target market with a completely stress-free experience, which helps them to remember you as a brand and recommend you to potential consumers. A cashless event solution means no PIN codes, no floats, and no need to worry about identification checks.
Should you be on the verge of going down the digital transaction route, it is vital to bear in mind that there have been instances of security lapses. By performing your research prior to investing in cashless events, you can feel confident that the digital transactions will be carried out securely.
We Love Live®. For a complimentary 30-minute consultation on how to build your brand and inspire an audience through events and communications, please contact Brian Duffy by calling 630.427.4235 or by emailing email@example.com