As security concerns mount, more and more events are switching to cashless payment methods to mitigate fraud; this includes everything from forged tickets and credit card fraud to identity theft.
Adopting cashless payment methods to facilitate large-scale events has a long list of advantages. For example, more business opportunities, greater customer satisfaction, and a higher sense of security.
Let’s discuss some of the benefits in detail:
Cashless Events Make More Sales
People are more open to the idea of spending when they don’t have to deal with physical money. Research shows that attendees at cashless events spend more money and buy up to 20% more than those at events that are not cashless. This increase is mostly attributed to ease of payment and the psychological reassurance of not having to deal with physical cash or swiping a card, which keeps spending anxiety low.
Less Waiting, Faster Entry, Increased Customer Satisfaction
Cashless payment methods ensure fast and efficient verification and scanning at event entrances, making sure that people can cut through the red tape faster.
Cashless payments at events also mean that you’re no longer waiting in lines for hours at bars, vendors, and businesses, as people fish through their purses and wallets for money, swipe cards, or count cash.
The shorter the wait time, the more fun people have at the event.
Higher Sense Of Security
Cashless events mean cashless, secure payment methods. This means that people can pay through their smartwatches, mobile devices or tablets, and don’t have to carry their wallets with them. This fosters a sense of security among the audience because it takes away the risk of having their wallets stolen.
Looking to make the switch to better, faster and more secure payment methods? Convenience is essential, which is why contactless EMV payments are the best option for ensuring safety around your business. Get in touch with Uniform Industrial Corporation and explore all your options!