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Cashless events: Behind-the-scenes

So, you’re hosting a live event and you’re considering making it cashless…

It seems like a good idea. You know there are plenty of reasons to do it – faster transaction times, shorter queues and less risk of fraud, to name a few. Not to mention, cashless transactions are the go-to method for consumers all over the world. In 2016, there were 682.6 billion noncash transactions globally, and that figure is expected to accelerate at a compound annual growth rate of 12.7%. For festival-goers, cashless transactions are even more popular – 73% of festivalgoers of all ages prefer to use cashless payments.

Clearly, there is huge potential for going cashless. But how does it really work? You know you want to offer a better live experience for your customers – but now what?

In this article, Tappit takes you behind-the-scenes to see what the integration process looks like for event organisers.

Before the Event

Once you’ve decided to take your event cashless, you’ll begin working with the Tappit team to design the wristband or card onto which your customers will load their funds (we call them ‘tags’). For example, your tags can be branded for your event or can include the logo of a sponsor.

Tappit wristband

During this stage, you’ll also determine whether you want to integrate access control into your Tappit system. In this case, your customers can have their tickets and funds loaded onto the same tag, so event entry and the cashless solution are all-in-one.

Next, you’ll provide the Tappit team with the various menus you’ll be offering at your event. Different vendors may offer different products, so Tappit will ensure your menus are uploaded onto the platform and organised for each point of sale. Each Tappit unit will display the relevant menu items on its screen, so your staff can easily enter orders, check the balance of customers’ tags and complete transactions with one handheld device.

Device screen

Once the system is set up for the event, the Tappit staff tests the units and tags extensively, ensuring everything runs without a hitch. If desired, the Tappit team can also prepare briefing materials to help train your staff on the Tappit system.

In addition to the system setups, you’ll start explaining the cashless experience to your future attendees. As your customers purchase their tickets to your event, you may offer the option to register tags and top-up online before they get to the event. By completing customer registration and top-ups in advance, queues at your event will be even less of a hassle.

At the Event

We know event organisers are working at hyperspeed on the day of their event to make sure every detail is ready for the guests’ arrival. With Tappit, you’ll have one less thing to worry about. For most events, Tappit staff are on site to oversee the implementation of the cashless and entry system. Tappit trains your staff to use the technology and deploys the equipment as needed. Using the Tappit cashless system will result in transaction times that are up to 80% faster, creating the opportunity for more transactions over the course of your event. These extra transactions will boost your takings (by 22%*). The Tappit system can also be used to process top-ups onsite, so customers never have to worry about running out of funds on their tags.

Each day, Tappit staff sign out the units to the operators, monitor the transaction reports and provide tech support. With the Tappit cashless system, end-of-day reconciliation is a snap, and you’ll have access to reports on who was spending what, when and where at your event.

Dodgy on-site WiFi plaguing your event logistics? Not a problem for Tappit. The Tappit entry and cashless systems do not require internet connectivity to function.

If your event is multi-day, the Tappit team will collect the units at the end of each day and ensure they’re ready to go for the next.

After the Event

Once the event has wrapped and you’re able to breathe a small sigh of relief, the Tappit team will perform post-event tasks including gathering the devices and running final reports. The Tappit devices will be packed up and shipped off by the Tappit team.

If you’ve chosen to allow customers to transfer their unused funds back to their bank accounts, they can do so onsite or online – you can choose the method that works best for you and your event.

The best part – you’ll have access to all sorts of valuable insights that will allow you to make your event even better next year. With all of this data at your disposal, the Tappit team will work with you to help you crunch the numbers and provide key takeaways and highlights.


 

Want to learn more about how Tappit can make your event more profitable and more successful? Get in touch with a member of the Tappit team.

*Based on information provided by Tappit clients.

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