15 Cashless Key Statistics

15 Cashless Key Statistics

With­in three years imple­ment­ing cash­less pay­ment tech­nol­o­gy in more than 200 events and fes­ti­vals, Weezevent has brought out 15 Key Sta­tis­tics about cash­less.

This study will con­vince you that the cash­less effect has just begun !

Fact 1: Cashless Payment is a solution already adopted

The aver­age amount of a top-up is up to $42 com­pared to $35 in 2016. Note that the amount of on-line top-ups is gen­er­al­ly $20 high­er than those made on-site.

A cash­less top-up accom­pa­nies 20% of tick­ets pur­chased online. This rate can go up to 40% on some events. It gives more pur­chas­ing pow­er to par­tic­i­pants (a top-up made when pur­chas­ing tick­ets, sev­er­al months in advance, is pain­less and has been absorbed by the day of the event, giv­ing vis­i­tors the oppor­tu­ni­ty to spend more on-site).

Fact 2: A better attendee’s experience as well as organizer’s

Less staff need­ed com­pared to a tra­di­tion­al POS sys­tem as we count 120 orders per hour, per sell­er. Mean­ing, that the pro­cess­ing time for an order is 30 sec­onds at peak peri­ods. Less wait­ing, more fun at the event !

$22 aver­age spend per par­tic­i­pant, per day. For sure, cash­less solu­tions pro­mote increased spend­ing through sim­plic­i­ty and speed of use. It can go up to $32 per attendee on some events. And 6% of rev­enues remains unclaimed after refunds, this fig­ure is rel­a­tive­ly sta­ble over the last three years.

60 top-ups per hour, per cashier. This fig­ure tends to drop as the share of online top-up is grow­ing (80% of online top-up are less than three days before the event). Atten­dees under­stand that top­ping-up online avoids queu­ing on-site.

Fact 3: Cahsless transactions are optimizing organization

65% of events have cho­sen NFC wrist­band more prac­ti­cal, offers a cheap­er solu­tion and with access con­trol (com­pared to 60% of events that had cho­sen NFC cards in 2016). For per­ma­nent instal­la­tions (clubs, parks, etc.) NFC cards are still the favoured solu­tion and work well when com­bin­ing cross-sell­ing and upgrades such as mem­ber­ships.

68% of events deliv­er the cash­less tag dur­ing access con­trol. There are mul­ti­ple ways of pro­vid­ing the NFC tag (access con­trol, banks, at spe­cif­ic loca­tion, …) but the major­i­ty of events have cho­sen to do the pair­ing process dur­ing access con­trol in order to stream­line attendee’s expe­ri­ence and reduce wait­ing time.

Fact 4: Cashless for events is a promising solution

44% of events use cash­less to high­light a part­ner. 28% of events have added the logo of a spon­sor to their NFC tag while 16% of them have inte­grat­ed a spon­sor in their cash­less offer (mobile pay­ment part­ner, brand acti­va­tion).

Cash­less pay­ment solu­tions are a huge­ly promis­ing inno­va­tion. There is a lot to come with brand acti­va­tion and new ways to inter­act with atten­dees on an event, it’s just the begin­ning ! We look for­ward to it !

 

Ready to try a cash­less solu­tion? Start now with Weezevent:

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