There is a huge difference between contactless and cashless, and by making the wrong decision, clubs and events can miss out on vital data about their customers, meaning they will be unable to gain insights to help maximise sales, reduce administrative costs and improve the fan experience.
The tale of contactless and cashless
The difference between contactless and cashless all comes down to information flow. Contactless solutions, where customers pay with their existing contactless bank-issued debit or credit cards, send all the data and information about transactions to the usual banks. Fans still need to carry wallets, and (more importantly) clubs are not in control of their own financial ecosystem and stadia cannot gain insight into their fans’ behaviour.
Cashless systems operate in a different way – and this where there is a huge opportunity for football clubs. Fans use their existing season ticket to securely purchase whatever they want in and around the ground including car parking, programmes, merchandise at the club shop, and food and drink. All the data is kept by the club – enabling them to understand spending habits, frequency, customer needs and create relevant and timely opportunities to grow revenue.