can be advantageous and safer for the promoter to accept credit and debit cards ... to carry cash with them on-site, ven
What’s behind the current
CASHLESS CRAZE?
Implementing a cashless payment system is a unique way for event promoters to enhance the patron’s experience. At Connect&GO, we use our extensive event experience to design cashless payment systems to suit an event’s specific needs. Cashless payment systems offer benefits for the patron, the vendor and the promoter and we customize almost all our systems to reflect the promoter’s vision for payments. Going cashless means transactions are quick, sales tracking is simplified and purchasing behaviour is recorded in real time.
CONNECT&GO
WHAT’S BEHIND THE CURRENT CASHLESS CRAZE? V_02
A relatively new application of RFID technology, cashless payment deployments have seen their ups and downs but are generally well received as most patrons and vendors appreciate the simplicity of the approach. At Connect&GO we recommend promoters consider offering multiple cashless payment methods at their events instead of imposing the ‘only way to pay is RFID’. There are countless ways to incentivize the use of RFID wristbands for payment, but it can be advantageous and safer for the promoter to accept credit and debit cards as well. This way, the consumer is free to choose the method of payment they prefer and the event remains ‘cash-less’.
“Where there’s cash, there’s theft.” Cashless payment systems make theft/loss of funds virtually impossible. Patrons don’t need to carry cash with them on-site, vendors don’t need to worry about employee errors handling cash and promoters don’t need to question the exact sales numbers, the system tracks every transaction.
KEY BENEFITS
CONNECT&GO
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Transactions are quick and secure – less room for theft/loss.
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Less hassle for the consumer, which incites repeat purchases/higher spend-per-head.
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Detailed purchasing behaviour data is tracked.
WHAT’S BEHIND THE CURRENT CASHLESS CRAZE? V_02
TWO CASHLESS PAYMENT SYSTEMS
Open-Loop Patrons link their RFID wristband/pass to a major credit card. All transactions are charged directly to that card. Receipts for each transaction are sent instantly via email.
Closed-Loop Patrons load “credit” onto their wristband/pass, to be debited with each on-site purchase. Receipts for each transaction are sent instantly via email. Promoters looking to offer complimentary refreshments during their event can use the closed-loop system to load “credit” onto each pass. Guests scan their passes at concessions to “purchase” drinks and snacks. Bank/credit card sponsors can offer loyalty programs to existing clients. By linking the affiliated credit card with their wristband/pass at the time of registration, clients can enjoy discounted prices at on-site vendors.
KEY BENEFITS
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Payment systems are tailored for each event and can work with both Closed-Loop and Open-Loop simultaneously.
CONNECT&GO
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Promoters can track sales (even when offering complimentary refreshments).
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Sponsors can benefit from increased visibility and interaction with the consumer.
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WHAT’S BEHIND THE CURRENT CASHLESS CRAZE? V_02
By using a cashless payment system, promoters are able to acquire real-time data regarding purchasing behaviour. Sales tracking is detailed and promoters know exactly what is selling where. This tracking system is as useful for staff and inventory adjustments during the event, as it is for planning future events. The relationship between vendor and promoter evolves when sales are properly tracked. While many festivals operate using an “honour system” to track sales and commission for concessions sold on-site, both parties stand to benefit from a detailed report of what was actually sold. The cashless system also reduces the chance for errors in cash management. Cashiers no longer have to handle change, monitor cash flow or fill in sales reports at the end of the event. All information is collected instantly, leaving very little room for error and/or theft.
By offering a cashless payment system, event organizers demonstrate a willingness to simplify the purchasing process for patrons, reduce friction with their concessionaires and increase profitability for the event and its vendors.
KEY BENEFITS
CONNECT&GO
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Real-time data and sales tracking
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Ability to better manage staffing and inventory on-site and for future events
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Less room for error/theft
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WHAT’S BEHIND THE CURRENT CASHLESS CRAZE? V_02
Contact us or visit our website for more information on these and other RFID possibilities. -
VISIT OUR WEBSITE
6600 Hutchison, Montréal, QC, CA H2V 1A5 • T 514-631-8282 •
[email protected] 