Cashless payment at events will become the norm in a few years.
If you don't offer it, you have to reckon with a loss of sales. This is especially true for events.
Digitalization has significantly changed the visitor experience at events - and the payment process is no exception.
The topic of cashless payment at events is currently gaining momentum once again, as payment by smartphone is now slowly gaining ground in addition to the familiar payment methods such as debit and credit cards.
The smartphone is simply held briefly against the terminal - that's it. The whole thing is still secure, as the user is already identified via their smartphone. There is no need to enter a PIN or sign. And, of course, there are also special cards or wristbands that are issued at the event and can be used not only for payment, but also for admission control, access authorizations and relevant statistics.
Organizers benefit not only from better processes, but also from increased sales, safety and an improved overall experience for guests.
Cashless payment saves time and nerves
Event organizers benefit from cashless payment on several levels. First and foremost, staff are relieved as digital payments are processed quickly. Factors such as giving change or the tiresome issue of "no more change in the till" are eliminated. In addition, the money is right where it belongs: in the account. This means that large amounts of cash no longer need to be guarded and later transported at the point of sale.
More turnover through cashless payment at events
Another advantage is the increase in turnover. It is not uncommon for guests at events to run out of cash, as not everyone remembers to go to the ATM before the event. Others have not planned for the spontaneous purchase of merchandise items or have the feeling that they have already spent too much. Spending banknotes naturally gives you a much stronger feeling of spending money than a quick peep from your credit card.
It is therefore a good time for event organizers to think again about cashless payment. Although digital payment offers a number of advantages, a corresponding infrastructure is of course also required.
Simplified evaluation
A good basis of usable data makes personnel and goods planning much easier. Where is the busiest time? At what time of day can you expect a particularly large crowd and which products are particularly popular? The digitalization of such processes makes all this information available without the need for tedious analysis in an Excel spreadsheet afterwards.
Success depends on the infrastructure
In contrast to cash, digital processes also require a robust infrastructure. The data connection must be reliable and fast so that services such as cashless payment, digital entry controls and other services function smoothly.
In particular, the infrastructure must be protected from typical event risks such as weather, theft and vandalism and, of course, from hacker attacks. The Internet and WiFi -Infrastructure or the systems themselves should therefore be installed professionally and, if possible, maintained on-site so that immediate action can be taken if a component fails.
Professional providers also have appropriate insurance. After all, this is about the payment transactions at your event. The reliability of the systems and protection in the event of a fault should be guaranteed. Therefore, if possible, ask the respective trades to provide proof of adequate insurance cover.
Technical challenges and their solution
Internet and network problems can occur at events, especially in remote areas or on extensive grounds - one of the biggest challenges for cashless systems. Eventnet addresses this problem with a technically sophisticated network architecture - including multi-level backup solutions. Redundant LTEradio links or satellite-based Internet, which ensures a connection even under difficult conditions.
This ensures that payment transactions can be processed reliably, quickly and stably - regardless of external influences or the number of simultaneous transactions.
Security and data protection for cashless payments
Cashless does not automatically mean carefree - especially when it comes to data security. Modern cashless systems therefore work with encryption, token-based authentication and isolated network segments to protect sensitive transaction data.
Eventnet attaches particular importance to the protection of your data and that of your guests. Our networks are GDPR-compliant and meet all security requirements for the operation of professional payment systems. In this way, we create the basis for trust - both on the part of the organizers and on the part of the visitors.
A look into the future: where is cashless payment at events heading?
The future of cashless payment at events is closely linked to technological innovations. Trends such as integration into event apps, biometric payment systems and the use of wearables with an NFC function are already emerging.
The seamless linking of ticketing, admission, payment and CRM systems will also become an even greater focus in the future - in order to make events not only more efficient but also more personalized. Event organizers who invest in these technologies at an early stage will secure a competitive advantage.
Open Loop vs. Closed Loop - which solution suits your event?
Different approaches are possible depending on the type of event. With the so-called closed loop system, visitors use a pre-loaded wristband or card that is only valid at the event. This solution is ideal for festivals or events with their own payment system and gives the organizer maximum control.
Open-loop systems, on the other hand, rely on existing means of payment such as debit or credit cards or mobile payment solutions via smartphone. Here, the step of topping up credit is eliminated - the focus is on user-friendliness. Both systems have their advantages - the decisive factor is making the right choice depending on the target group, infrastructure and desired visitor flow.
Profitability: an investment with a future
Of course, many event organizers ask themselves whether a cashless system is cost-effective. The introduction is initially associated with investment costs - for example for hardware and software, infrastructure or training.
In the long term, however, these expenses usually pay for themselves quickly: through higher sales, fewer personnel requirements, a lower error rate and optimized processes. The opportunity to generate valuable data for customer loyalty and to optimize the event also brings clear added value.
The demand for cashless payment options is also increasing at events: A YouGov survey shows that 24% of Germans want cashless payment at folk festivals and 18% at flea markets. Generation Z in particular prefers digital payment methods: 44% of 16 to 29-year-olds prefer to pay with a smartphone or smartwatch, while only 25% prefer cash. In addition, 37% of this age group state that they avoid stores that only accept cash payments.
In short: cashless payment is an investment in efficiency, security and customer satisfaction.
Conclusion: Cashless payment at events is more than a trend - it's a success factor
Cashless payment at events has long since become the standard - not only from the visitors' point of view, but above all from the organizers'. The right combination of technology, network and partners creates the basis for a smooth, secure and successful payment system.
At Eventnet, we support you in a partnership and solution-oriented manner - from consulting and technical planning to commissioning and support during your event. Put your trust in our experience and let us work together to ensure that your guests not only have a great event, but can also pay conveniently and securely.
