Research has proven that cashless payment options increase consumer spending by 15 to 30% on average, based on the PayPass Adoption study in 2012, conducted by MasterCard. Cashless spending, using RFID wristbands, is a worthwhile option for all types of facilities including hotels & resorts, music festivals & concerts, amusement & water parks, and sporting events.
With RFID wristband technology, you can quickly and easily transform your venue into a cashless environment by providing mobile, turn-key, and secure payment options. Your guests can conveniently make purchases by simply touching their RFID wristband to a reader. Physical cash is “out of sight, out of mind,” which is reported to greatly increase impulse purchasing, boosting revenue for facility managers and promoters.
Some of the key benefits of cashless payments with RFID wristbands include:
- Increasing revenue & profits
- Streamlining operations
- Enhancing security
- Elevating the guest experience
MUSIC AND SPORTING EVENTS
Music festivals and sporting events can benefit from using cashless payments with RFID wristbands for items such as food, drinks, and merchandise. Guests will love the convenience of leaving their purses and wallets behind and enjoying a worry-free festival or sporting event with all the purchasing power they need, secured to their wrists. You can even issue RFID wristbands in different colors to work as an age verification system for alcohol purchases.
“I think there is a bit of psychological sense that once the money is loaded on their wristband and has left their bank account, they view that money as practically spent – even though we provide refunds for unused funds,” said Paul Runnals, Senior Vice President of Creative & Production for the Squamish Valley Music Festival, an event that decided to start using RFID wristbands several years ago.
AMUSEMENT AND WATER PARKS
Amusement and water parks can incorporate cashless payments using RFID wristbands as well. Waterproof RFID wristbands will help prevent guests from losing important items – like driver’s licenses and credit cards – on water rides and in swimming pools. Guests can quickly purchase concessions, keepsakes, inner tube rentals, and more. Plus, parents can load their kids RFID wristbands with funds so families can enjoy time apart during their trip, while monitoring how much their children spend. See the power of RFID in action!
HOTELS & RESORTS
Lastly, hotels and resorts can integrate cashless options with RFID wristbands for purchases that guests make at property amenities including restaurants, day spas, and bars. Guests can simply swipe their RFID wristbands at any point-of- sale station, and the charges will be added to their room tab. Patrons will love handiness of RFID wristbands, and facilities will benefit from the increased revenue from higher sales.