Token Systems, a new company founded by Ticketbooth’s chief executive, has successfully debuted its new RFID cashless wristband technology at an event in Australia.

The firm, created by Simon Guerrero, head of the Australian event ticketing company, along with chief operating officer Matthew James (both pictured), also offers operators advanced access control and experiential activations for events.

Debuted at Vanfest Music and Arts Festival over the weekend, Token’s RFID technology allowed organisers to turn the event completely cashless. In order to purchase food and drinks on-site, festival-goers loaded funds onto wristbands at one of the site’s designated ‘top-up stations’, and then purchased items at vendors with a simple ‘tap’ of their wrist.

“We’ve designed Token to reduce onsite costs, introduce additional revenue streams and speed up bar/vendor sales. We pride ourselves on being at the forefront of innovation within the industry, and are constantly ensuring that we can help our clients make their events bigger and better,” said Guerrero.

“After seeing a handful of RFID companies launch unsuccessfully, we took our comprehensive understanding of the event landscape and paired it with our engineering mindset to create the perfect RFID access and cashless payment platform. The goal for Token is not to run every event ourselves, but to whitelabel out to ticketing agents and bar management companies who will be certified in Token Systems.”

Guerrero and James developed the Token platform alongside Sergey Dudik, an expert in biometric access control and GPS area control systems.

It is hoped that mesh network technology, multi-currency support and multiple layers of redundancy for data transfer will set the Token platform apart from competitors.

The company said that by allowing organisers to run their event without any internet on-site, yet still move active data from top-up stations, to bars and food vendors and back to base again, “the risk of losing valuable customer or transactional data is next-to-nothing”.

Token is currently available in Australia, New Zealand, the UK, Ireland and the US, with more countries to follow in the upcoming months.

Matt Clifton, Vanfest Founder and owner of Manly’s Insitu and Donny’s Bar, said: “It was amazing to see sales data live across all bars & vendors and nice to know that cash wouldn’t go missing for the first time… In my eyes, this alone pays for the implementation of RFID on site.”