Cashless Options Bring Big Money to Events

cashless options

If yours is an event where there are things to buy, there’s nothing more frustrating—for attendees and you—than a line snaking up to the ATM. The more time they stand in line, the less time they’re spending and enjoying your event.

Setting up an event-wide cashless system is easier than you might think. And here’s the best part: Cashless transactions have a profound effect on event sales, which typically increase 15 to 30 percent. You won’t have to worry about safeguarding cash receipts anymore, either.

Intellitix offers cashless payment at events using RFID wristbands. Stations can be placed around the event space, allowing attendees to top up their cashless accounts. The system is integrated with an app that attendees can use to replenish their accounts, as well—or they can opt for automatic refill. Too much in the account? No worries—there’s a post-event refund for any remaining balance.

Glownet offers another option, a system similar to Intellitix’s, with pop-up stations or online software to refill Glownet debit cards or wristbands. The system is network-independent, meaning it can be 100 percent offline without interrupting transactions.

Yet another company in the cashless space is GoCashless, which is focused on cashless point-of-sales. It sells point-of-sale registers with built-in credit card swipes, hand-held terminals for cards and the familiar, square-shaped card reader attached to a smartphone. Some of GoCashless’ products also use Verizon Wireless’ network to stay connected, and tack on a monthly or annual fee. Purchasing GoCashless’ products outright eliminates the per-transaction fee of cashless options such as Square.

If you’re not interested in doing an event-wide system, encourage individual vendors to bring their own cash-free options. This could be a Square card reader attached to their smartphones or a station set up to accept credit cards. Square offers its magstripe readers for free and takes a 2.75 percent service charge per transaction; for $49 you can purchase a Square reader specifically for chip credit cards or tap payments, which includes the magstripe reader for those without chips or card-tap abilities on their cards.

Ready to explore the brave new world of going cashless?