Over the last five years, there’s been a definite shift towards contactless payments. Whether we’re doing the big shop, ordering at a bar, or simply commuting to work, contactless payments are everywhere we go, and the pressure is mounting on the consumer to change their spending habits to reduce their use of cash.
However, in the last 18 months the speed of this transition has accelerated. This is entirely due to the pandemic. Since last March, we have all become more aware of the spread of bacteria by touching surfaces, and handling coins and notes has become increasingly undesirable as a result. We are all encouraged to use contactless payments where possible to stop the spread of viruses.
We all know this, business owners and consumers alike. Despite this, there are still some businesses that are resistant to this contactless “revolution.” Whilst this may have been understandable in 2016, five years later the digital landscape has changed almost beyond recognition, and some businesses (particularly smaller businesses) have been unable to keep up.
If you are one of these businesses, we can help make your transition to cashless as painless as possible. If you have already made the switch but are still experiencing issues with your software provider, Booked it might just be the solution to your problem. Booked it can provide your business with industry-leading RFID cashless payment solutions, which come in multiple forms; whether you want to use card, an app, or even our game-changing cashless wristband, we have everything you need to become an entirely cashless venue.
Using the app or the wristband, customers can top up in advance. Essentially, they load the chosen spending device with credit, which they will then spend at your venue. This has been proven to increase customer spending per head, by up to 30% in some cases. It also has the added bonus of significantly improving cashflow at your venue, and freeing up space for your staff to move freely.
Furthermore, for organisers who don’t want to go completely cashless, customers also have the option to use card or apple/google pay when they run out of credit. This can be run completely offline, making it easier for you to integrate cashless technology into your venue.
Another benefit to cashless payments is the wealth of data and real-time analytics using it can supply your business with. Simply by switching to cashless, you can analyse transactions from a single dashboard. This means that you can see which bars, vendors and staff members are performing better than others. You can oversee stock control live to resolve potential problems before they arise. Also, you can send push notifications to staff to incentivise more serves per hour.
Last but not least, cashless payments through Booked it can be fully integrated with our loyalty scheme. Using the loyalty scheme, customers connect their card on the app and earn points with every transaction. Your customer is rewarded every time they make a card payment. You can use these points to offer real-time incentives, to increase spend per head, and even to increase the amount of time customers stay in your venue.
Whether you own a bar, a soft play centre, or something in between, cashless payments are the future, and you’re right to be serious about them. Card, app, or wristband; each of these payment methods offers your business the opportunity to embrace technology, increase customer satisfaction, and increase spending at your business.
Words by Rebecca Clayton
Festivals, live music events and club nights are all about freedom, fun and the pure joy of living life. The last thing your customers want to worry about is where to stash their cash. Going cashless for your large scale events will be a big winner with your customers, and it’s proven to increase spend per head by over 30%. Here are the 6 reasons to make your large scale event cashless using the new generation of RFID cashless payment technology from Booked it.
1. It’s better for cashflow. Buying the tickets, finding a new outfit, getting topped up with credit. With an RFID cashless payment solution, getting topped up with credit to spend on the night becomes an integral part of the pre event preparation. And because most customers top up in advance, that’s really good news for your cashflow.
2. It’s more hygienic. We’ve always known that cash isn’t clean because of the fact that it gets passed about from person to person. And in the pandemic, keeping your event as hygienic as possible is your priority. Statistics show that money changes hands over 50 times, and viruses can live on the surface of cash for 72 hours. Go cashless and these problems and more are eradicated.
3. It’s more efficient. Using cash equals more time at the bar for your customers and less time enjoying the event. Once they’ve got their RFID wristband on though, paying for food and drinks is completed with a quick tap of the wrist. They get their drinks quicker and you get less queues at the bar, quicker turnaround for orders and a more efficient bar overall. The RFID technology even works offline, so if your event is out in the sticks, it can still have top notch tech.
4. It’s easy to top up at the event. We’ve all done it. Smashed through the money you bought with you (or loaded onto your wristband) way too soon, but the event is so good there’s no way you’re going home yet. To keep the event bouncing, top ups can take place at an onsite kiosk or straight from your customers’ phones.
5. It’s easy to get customer insights. Post event, and as well as the clean-up, it’s time for the analysis. What bars performed well, what did customers buy, how much did they spend? This is all vital information to plan and improve your next event. And it’s all available from your RFID cashless payment solution dashboard. You can even use the dashboard during the event to prevent stock-outs. No-one wants to miss out on their favourite drink at a festival!
6. It’s not as expensive as you might think. All that cutting edge technology has to be expensive, right? Actually, the RFID tech is available from just £1 per wristband, with no set up fees, no contracts and all of the support you need to make the switch to cashless for your events. Let the cashless partying commence!