6 Ways RFID Cashless Payments Improve the Convention Experience

  • By David Kennedy | Tuesday, March 3rd, 2020
6 Ways RFID Cashless Payments Improve the Convention Experience

Convention organizers routinely put months of planning, legwork, and coordination into crafting an event that typically takes place over the span of just a few days. With a narrow target for on-site success, it’s critical that every aspect of your fandom, gaming, or pop culture convention is optimized to provide unforgettable experiences for your attendees, and generate revenue and actionable insights for your team. For this reason, cashless payment technology is an emerging resource that simply cannot be overlooked.

Our partners at Token know firsthand how an integrated cashless solution can improve the overall convention experience from all sides. Read on to find out how going cashless can benefit you and your attendees this year and beyond!

Organizer Benefits:

Capitalizing on Purchase Intent

When it comes to fandom and pop culture conventions, many attendees walk through the door with the intent to spend big on things like photo opportunities, celebrity autographs, and exclusive show merchandise. Cashless technology can help boost your overall revenue by capitalizing on that purchase intent. Token’s simple RFID solution removes cash and cards from the equation, meaning faster transaction times and shorter lines. By enabling instant purchases with a tap of a wristband or badge, you’ll reduce friction to purchase, and attendees will have a higher propensity to spend. Not to mention, Token offers the reliability of a truly offline system which means you’ll never experience an outage, even in the event of WiFi saturation or a power disruption.

Improved Data Insights

With Token’s cashless payment solution, every time an attendee uses their RFID wristband the data is automatically recorded, enabling you to track spending patterns, vendor popularity, and other important event trends. Plus, by integrating cashless tech with your admission credentials, you’ll be able to follow the attendee journey throughout your convention. Use this real-time data to track and manage capacity in certain sessions or exhibitions, monitor and adjust merchandise inventory, and replace items when supplies are running low. Post-event, these insights can be valuable in determining which products and vendors were most popular so you can make data-driven decisions about planning for next year’s convention.

Reduced Staffing Costs & Added Revenue

Payment-loaded RFID credentials streamline attendee admittance and spending, which means you’ll need less staff on hand to help validate tickets and assist with purchasing. Plus, Token’s self-serve top up stations make it easy for attendees to simply walk up to one of many kiosks scattered throughout your venue and manage their own showday finances, with no need for staff assistance. These kiosks also eliminate complex financial reconciliation and the need for cash transport, storage, and counting on-site, further reducing staffing needs and reducing payroll noticeably. Not to mention, Token also gives you the option to further increase your bottom line with added revenue streams such as charging attendees activation and refund fees. 

Theft and Fraud Prevention

Needless to say, employing a cashless payment solution instantly makes your convention more financially secure. RFID wearables are hard to replicate, which means you can virtually eliminate the possibilities of fraud and chargeback claims. By going fully cashless, even your staff and vendors won’t have to worry about cash registers being targeted for theft. And if an attendee loses their RFID wristband at any point, you’ll be able to simply cancel it and transfer any remaining balances and credentials to a new wristband. 

Attendee Benefits:

Reduced On-site Queueing

Frequent convention-goers know that large-scale events often lead to regular on-site queueing. Token’s cashless RFID technology solution helps to alleviate many of the line-ups attendees would otherwise face at your event by providing a fast and convenient alternative to cash, credit cards, and other event currencies. With a cashless RFID wristband, attendees can store credit and quickly make purchases with a single tap, speeding up transaction times and reducing bottlenecks across your event site. Integrating cashless tech with attendee credentials can further streamline access control and improve wait times at ticket gates and internal admission checkpoints.

Comfortable Spending Options

A credit-loaded cashless payment wristband helps your attendees make purchases more easily, and saves them the hassle and risk of carrying large amounts of cash in a crowded environment. With Token’s self-service top up stations located throughout the convention floor, they’ll be able to add funds when needed and maintain control over their spending, all with the tap of a wristband or badge!

Are you ready to talk to Token’s experts about going cashless at your next event? Request a demo today!