Ticket Arena has claimed to serve more than one million customers with cashless payments in the last year.
The Leeds-based operator said its Event Genius platform processed more than three million individual transactions using radio-frequency identification (RFID) cashless payments. That’s the equivalent of 7.5 per cent of all the 40.5 million card payments made every day in the UK, according to figures from the AOL news website.
This system works by enabling a small chip to communicate with an RFID enabled reader via radio signals. At events or festivals, this chip is usually embedded in either a wristband or badge, and scanners are positioned at entrances and exits allowing customers to add credit to make purchases at bars, food carts and merchandise stalls.
Ticket Arena revealed that festivals and events using the technology see a 10 to 25 per cent increase in at-event spending.
With the additional benefits of significantly reduced queuing time for attendees, fewer cash handling errors, less theft and better data insights into customer purchasing habits available, RFID cashless payments are becoming increasingly popular within the industry.
Reshad Hossenally, managing director at Ticket Arena & Event Genius, said: “When implemented properly by the experts in the Event Genius team, RFID cashless payments are proven to improve the overall experience for customers as well as reduce overheads for organisers.”
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