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If there is something that defines our society, it is the culture of change and immediacy. The here and now are two terms that are very present in our day to day life. It is not surprising, then, that with social transformations together with how the pandemic has largely changed our day-to-day life as we knew it, new ways of relating and consuming arise.

Proof of this are the cashless methods that have burst onto the scene in recent years at major events, such as festivals, concerts and stadiums, revolutionising the leisure sector. It is a system that makes use of NFC (Near-Field Communication) or RFID (radio frequency identification) technology through a physical medium, such as a wristband or card, to make payments within the enclosure.

Although it is true that the best-known solutions within contactless and cashless payments are those mentioned above through a card, bracelet or other wearable with NFC technology, currently the possibilities are much broader. Now, consumptios at festivals and events can be made without giving up any payment method using an intelligent POS that we have developed at Gofun. It allows you to process all kind of payments (NFC, bank cards, mobile phone and even cash itself) on the same device.

A wide range of options that translates into a reduction in waiting times and an increase in consumption and enjoyment time. Because thanks to this revolutionary innovation, detailed information can be available in real time, greater flexibility and convenience in payments and, in turn, increased security for attendees and workers.

How does it work?

The operation of payment by NFC device at events is simple. The user only has to put on the bracelet or have the card at hand (in which a small device is incorporated) to use both supports as a payment method in the different services. Authorized personnel, through a mobile terminal or smart POS, scan it and, in this way, you pay for your product or drink.

In the case of using the bank card and telephone, it is a widely known process: we would simply have to bring them to the POS as we usually do in our daily lives, wait for them to confirm that the operation is correct and that’s it.

10 benefits of choosing cashless payment in events

Below, we list some of the advantages of betting on cashless technology with which it is very clear to us why it has become the favorite payment method in events:

1.Real-time information:

Opting for cashless payment allows the company to have greater control of everything that happens here and now. How much a user spends on average, which products are consumed more and which less, or at what point in the event spending increases are some of the data that can be consulted in real time. Information that helps in decision-making and that is vital for optimizing resources in the future, anticipating unforeseen events and getting to know customers better.

2.Reducing queues and waiting:

The immediacy of payment with an NFC device or through a POS that allows all types of payment manages to considerably reduce the queues that form in the bars of festivals or concerts and, therefore, also the user’s waiting times. And it is that by eliminating the process of looking for the wallet, taking out the money, waiting for the change… The transaction lasts barely a second when it is done ‘at the stroke’ of the wrist or with a bank card, avoiding possible crowds.

3.Greater security and control:

The payment digitisation provides greater security to the transaction. It removes the possibility of getting errors either in the payment or in the collection. Likewise, cashless payment reduces the risk of loss, robbery or theft, as this kind of media has an integrated anti-theft system, with a nominal balance. This prevents another person from using the balance in the event of theft or loss.

4.Consumption increase:

The payment system through wearables, bank card or mobile, among others, reverts to an increase in the consumption of those attending the event. In fact, in recent years bar consumption at events such as festivals or concerts has increased. And it is that this tool offers the user much more comfort when making the payment. Likewise, the user can recharge their device at authorized points or simply from their mobile.

5.Improved user experience:

The reduction in waiting times at the bars and in other services that offer massive events such as concerts or festivals provides greater peace of mind to the attendee. An aspect that translates into a substantial improvement in the user experience by being able to invest their time in enjoying the eve experience.

6.Power your brand:

The fact of having a support such as a bracelet or card to make payments becomes a branding element with which to enhance your brand. In fact, there are many festival lovers who, at the end of the event, keep the bracelet as a souvenir of that unforgettable experience. In this sense, it is a totally customizable wearable to bring it as close as possible to your brand image.

7.More features and events:

Cashless payment can be used in countless events, whether festivals and concerts, as well as in stadiums, fairs, markets, nightclubs or venues, among others. And it is that the amount of functionalities, uses and supports that this technology offers makes it adaptable to all types of spaces.

8.Access control:

In addition to being able to make the payment immediately and quickly, this method can be used to assign different permits and entry passes. All this with the aim of improving access control for both attendees and staff or guests. Thus, attendees can access the different areas more efficiently and safely, such as the VIP area, the press room, the backstage…

9.Exclusive products:

Cashless technology allows you to create, before attending the event, a personal account in which, in addition to being able to recharge the NFC device, the user has access to benefits, such as discounts, exclusive promotional items or coupons, among others.

10.Offline operations:

Unlike credit cards, cashless payments do not require internet connectivity to carry out the transaction, so if you bet on this technology you ensure 100% efficiency of the payment and collection service.

In this sense, it is not surprising that more and more events are betting on the cashless payment method, a technology that provides numerous benefits, both for the company and for the attendee, transforming the event experience from start to finish. And all this, with a single flick of the wrist.