The pandemic sped up the move to cashless technology at events. If you’re still on the fence on moving to cashless payments for your events or considering ways to do it, now is the time.
Here’s why.
1. Fewer people have cash on them
In the UK alone, payments using notes and coins fell by 35% in 2020, with double the number of people opting to go cashless. Ensuring your event supports cashless payments will make your event significantly more attractive to people to attend.
2. It reduces likelihood of theft
At festivals and events, guests want to have a good time, not worry about their wallets being stolen. With cashless payment solutions like PouchEVENTS, you can encourage your guests to leave their wallets at home, top up their form factor once and focus on enjoying themselves.
3. Cashless technology reduces the risk of COVID-19 spread
While guests return to in-person events, they may still worry about catching COVID-19. Cashless technology reduces the likelihood of spread by eliminating cash handling, physical contact and reducing guest’s need to queue at events.
4. Contactless technology eliminates queues
Queuing at major festivals is a hassle. Whether it’s queueing for a drink, a quick snack or attractions during break times, spending too long queueing is frustrating. Contactless payments allow both your visitor and your payment collector to complete transactions in seconds, improving the experience for your patrons.
5. Cashless payments encourage higher on-site spending
Contactless payments are easier to make. Guests experience less ‘pain of payment’; the tangible feeling of financial loss when you tap to pay through contactless technology versus handing over physical cash.
We’ve seen an increase of guest spend by up to 30% just by implementing cashless payments. Either encourage cashless transactions or pre-load credits to make it easier for your guests to shape their in-event experiences through intentional spending.
6. Contactless technology allows you to collect guests’ insights
Digital solutions collect data about your guests’ preferences and needs at every touch point.
This isn’t available for cash or token-based payment methods.
Over time, you get insights of what your guests prefer and how to appeal to them by reading their demographics and connecting to their behaviours, so you can gain the confidence to plan an event that creates a more personalized experience for your guests, powered by data.
7. It frees up your staff from manual tasks and improves staff efficiency
With contactless payments in place, your onsite staff don’t need to spend their time counting cash, ensuring cash is safely stored or payments reconciled at the end of each day.
Use the freed up time and resources to reduce staff on-site, or divert your staff to pay more attention to your guests onsite to deliver more personalized service experiences. Find creative ways to help your event guests coordinate their day with personalized schedules or direct them on where to go.
Cashless payments are the future for event organizers
If you’re still wondering how to plan your event with cashless solutions in mind, we hope this article has given you some ideas. Get in touch if you’ll like to explore implementing cashless solutions for your event
