5 reasons to switch to cashless in 2020

5 reasons to switch to cashless in 2020

The first time a major French fes­ti­val used Weezevent’s cash­less sys­tem was in 2015. Since then, a wave of cash­less sys­tems has swept through all the oth­er fes­ti­vals. Nowa­days, this tech­no­log­i­cal rev­o­lu­tion is spread­ing to oth­er major events and enter­tain­ment venues. For instance, Alexan­dra Palace went cash­less for 2019 World Darts Cham­pi­onships. 2020 may be your year… here’s why!

Con­tents

  1. Increase your aver­age shop­ping bas­ket
  2. Cut wait­ing times
  3. Track detailed stats
  4. Improve safe­ty
  5. Cut staffing costs

1. Increase your average shopping basket

Offer­ing cash­less pay­ment sys­tems to your event atten­dees can lead to an increase of your aver­age drinks, food and mer­chan­dise pur­chas­es by up to 30%. Using the wrist­band or NFC card to pay is so quick and sim­ple that atten­dees tend to con­sume more.

2. Cut waiting times

Using a cash­less pay­ment sys­tem at your event will sig­nif­i­cant­ly cut wait­ing times, in par­tic­u­lar at places of con­sump­tion. Trans­ac­tions take only a few sec­onds and are much faster than those made using bank cards or cash. The bar­tender or sales­per­son only needs to enter the amount of the order on a cash­less ter­mi­nal and place the buyer’s NFC card or wrist­band on the device to con­firm the pur­chase.

At the same time, your NFC sys­tem can scan atten­dees at var­i­ous entrance points and restrict­ed areas. They don’t need to get their tick­et out at each con­trol, and they won’t lose their tick­ets either, mean­ing your queues are faster. All of this leads to a reduc­tion in the stress lev­els of both your atten­dees and staff. Every­one is more relaxed and your event will ben­e­fit as this encour­ages indulging and pur­chase.

3. Track detailed stats

Cash­less pay­ment solu­tions give you access to detailed stats on the pur­chase behav­iour of your atten­dees: favourite pur­chase areas, peak times, etc. You can also iden­ti­fy the high­est pur­chasers and the best sell­ers. Each trans­ac­tion is auto­mat­i­cal­ly record­ed so as not to leave any room for human error. Data analy­sis is there­fore eas­i­er and quick­er.

4. Improve safety

You can instant­ly make your event safer by using a cash­less solu­tion. Atten­dees will be more com­fort­able com­ing to your event with­out cash or a bank card. The theft rate will also go down. Staff at pur­chase loca­tions will also ben­e­fit because it means few­er things to mon­i­tor. Trans­ac­tions are vir­tu­al — cash can­not be lost or stolen from cash box­es. Fraud is also impos­si­ble because it would require dupli­cat­ing an NFC card or chip, where­as fake cash is more com­mon.

5. Cut staffing costs

Trans­ac­tions are sim­pler and quick­er thanks to cash­less sys­tems, so a wait­er or sales­per­son can han­dle more orders in a row. They take the order, con­firm pay­ment and serve the cus­tomer in less time that it would have tak­en to man­age the trans­ac­tion alone with­out cash­less. You can there­fore allo­cate your staff to oth­er tasks or reduce your teams when you switch to cash­less.

Since 2015, we have designed and observed so many best prac­tices that we have writ­ten a free prac­ti­cal guide for all event plan­ners. Read it now by click­ing on the but­ton below:

Read the white paper

Please get in touch with us if you have any ques­tions about cash­less.

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