Chad Johnson of the Jacksonville Jaguars and Jason Thomas, CEO for Tappit discuss the impact COVID has had on the cashless payments landscape
The acceleration of change
COVID has had a huge impact across individuals and businesses across the globe. In this excerpt, Jason Thomas, CEO at Tappit, gives his view on the changes he’s seen in the cashless payments landscape this year; how fan engagement is more important than ever; and what the future of cashless payments looks like.
Mobile pay provides a contactless payment solution
[Chad Johnson] Well so this is the first year that we here at TIAA Bank field and the Jaguars have gone completely cashless. But there’s a difference between cashless and this Jags Pay mobile payment solution. Because even though we are cashless we are trying to limit contacts. And Tappit and our Jags Pay does that. We have a completely contactless payment solution. So no longer inserting a chip card, no longer having to touch a terminal. The Jags Pay is done through a self-scanned kiosk by the customer and gives you one less touch point for them.
[Joe Streeter] Ok and Jason I wondered if you had anything to add on that you’re experiencing it beyond the Jaguars you know, experiencing it all round I guess.
COVID has accelerated the move to cashless payments
[Jason Thomas] Yeah I think what we found is, pre-COVID we were very busy anyway and I think the appetite for our solution was globally increasing, partly because of points Chad made in relation to. I think a lot of organisations have realised that they’re not as close to the fan and the fan behaviour as they’d like to be.
Businesses need fan data to keep fans engaged
And also they’re always looking for ways to improve the fan experience and increase revenues of course. But then I think what COVID has really done is…I think clients who are considering decided that this is the time to do it to keep their staff safe and to keep their fans safe.
Clients are changing their approach to implementing cashless solutions
And I think the other thing that’s changed is partners who we were in discussions with and who had decided to go cashless but were going to evolve it let’s say in a more cautious way by the side of traditional payment methods, I think to use the phrase they have decided to rip the Band-Aid off now and not evolve it by traditional payment methods. And they’re going for it in a much more conclusive way.
They’ll never going back to cash
Without a doubt for many organisations, the majority of organisations we’ve talked to, this is a kind of fork in the road and they’ll never go back to cash. It’s literally that simple. There has been such a significant sea change in the last four or five months I think with major organisations’ attitudes to this kind of technology.