What is cashless?
What is Cashless?
The cashless payment literally means”No money”. It is becoming the norm in many sectors, especially in the event sector, for larger or smaller events such as festivals, fairs and concerts. Practical and fast, cashless meets the needs for smooth transactions and security, and is becoming an increasingly popular solution for organizers and participants.
Definition of cashless
Cashless is a payment system by digital wallet, thus not requiring physical currency (bills or coins) or bank cards. These solutions are often based on contactless technologies, such as NFC (Near Field Communication) and the RFID (Radio Frequency Identification), or via mobile applications. Cashless is most often embodied in the format of cards and bracelets at chip containing the digital wallet, thus replacing traditional payments with a fast and secure digital solution.
For events, Cashless offers a unique alternative: it is used at the entrance of festivals, in bars, food stands (foodtrucks), and even for the sale of by-products (merchandising). Attendees often receive cashless bracelets or cards that they can credit in advance, reducing physical currency exchanges and the risk of losing their wallets at the event venue. This type of solution is particularly relevant for large-scale events, where fast transactions And the optimized management are indispensable.
How does Cashless work
NFC and RFID technologies in cashless
As mentioned above, the cashless system is based on two major technologies: NFC And the RFID. NFC technology, often integrated into smartphones and bank cards, allows fast communication between two devices at a short distance, thus offering instant payments. RFID, on the other hand, works with passive chips, which are often integrated into bracelets or cards. Payment terminals use radio waves to detect and interact with these chips, facilitating secure and contactless transactions.
Different types of supports: NFC bracelets and cards
The two types of media most used for events are cashless wristbands and in the cashless cards. NFC bracelets are popular for events because of their practicality: worn on the wrist, they make it easy to consume at bars, food trucks and other stands without the need for a physical wallet. They are less easily misplaced. NFC cards are often a more economical alternative for the organizer, offering the same technology in a traditional bank card format. These supports, customizable and refillable, are quick and easy to use, so choose the one that best fits your situation!
Cashless card or bracelet, which support should I choose for my event?
Ways to recharge a cashless wallet
Users can recharge their cashless devices in two ways:
- From an online account : Participants create an account associated with their bracelet or card, which they credit before or during the event via a secure dedicated platform. In the case of our solution Wilout PAY, the organizers communicate the link to their participants.
- Physical reload points : Charging stations are installed on site, allowing the cashless support to be credited in cash or by bank card, an ideal solution for those who prefer to recharge on site.
The advantages of Cashless in events
Cashless offers numerous advantages for organizers and users. Here are the main benefits:
Saves time for users
Thanks to cashless, no more time wasted looking for and giving change. Cashless payments are faster, allowing Reduce waiting lines and to increase the leisure time of the participants. In high-traffic events, cashless offers more pleasant user experience.
Ease of management for organizers
The cashless system makes accounting management and cash flow monitoring much easier. Transactions are centralized and recorded digitally, providing an accurate overview in real time. Solutions like Wilout PAY integrate a complete dashboard, allowing you to track transactions And the inventory management, and so optimize sales according to the trends observed.
Safety and risk reduction
The absence of cash reduces the risk of loss and theft. In addition, cashless is a hygienic solution that minimizes hand-to-hand exchanges, a significant advantage.
No currency or complex calculations
Cashless transactions eliminate the need to give change, making transactions easier and faster, and avoiding calculation errors. It also allows festival-goers to better manage their budget.
Personalizing offers through data
Cashless makes it possible to collect valuable data on participants' behaviors. With information on shopping habits, organizers can personalize offers, optimize inventory, and adjust their strategy based on customer preferences.
Additional revenue for organizers
The cashless solution also gives you the opportunity to generate additional revenue and to increase the profitability of your event. In fact, the activation and reimbursement fees allow you to reimburse the purchase costs associated with cashless devices. In addition, when the remaining cashless balances of your participants are not claimed within the time limit, they are considered donations to the organizer.
Optimize your income with cashless
The personalization of Cashless supports
Les cashless holders can be customized in multiple ways to adapt to the event and reinforce the brand image. This personalization involves aesthetic options (logos, colors) but also by specific functionalities according to the needs of the organizers. For example, bracelets can be designed to be water resistant for outdoor festivals or water parks, while maps can show the sponsor logos of the event.
Additionally, some media may include additional features, such as special access to VIP areas or exclusive offers for certain activities, thus enriching the customer experience and offering sponsorship options to event partners.
Cashless limits and challenges
Despite its many advantages, cashless presents some challenges, like any technology:
Accessibility for all: Not all users are familiar with cashless technology, which can be a barrier, especially for older, less tech-savvy audiences.
Dependence on technology: A technical problem with payment terminals, NFC chips or a network outage can make transactions impossible. Organizers must have effective technical assistance to avoid inconveniences. The Wilout technical support remains at your disposal throughout the duration of your event in case of unforeseen events.
Refund management: After the event, it can be complex for organizers to manage refunds of the remaining balances on users' cashless accounts, a step that can create frustration. Fortunately, our solution Wilout PAY is designed to make this process much easier for you.
Protection of personal data: Cashless systems store sensitive information, and it's crucial to protect that data from cyberattacks and other security threats. Be sure to use a solution that protects and respects your users' data, such as our cashless solution.
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Wilout PAY: An innovative cashless solution
Wilout PAY is a complete cashless solution, not only dedicated to events, but also to other organizations such as sports clubs and leisure activities, or even at undertakings. We developed it to meet the needs of organizers and improve the user experience. Our application is very easy to use and intuitive, which allows you to set up your devices very simply. Wilout sets itself apart from the competition by its advanced features and an intuitive interface, making it easy for all parties to use and manage payments.
Real-time transaction monitoring
Wilout PAY offers a dashboard with graphs, which gives organizers complete visibility on transactions and stocks, allowing optimized management and rapid adaptation in case of specific needs.
Multiple reload options
With Wilout, participants can recharge their cashless account online before the event, or on site via physical charging points, thus ensuring optimal flexibility.
Personalization and loyalty
Thanks to the data collected, Wilout helps organizers to understand the preferences of participants, allowing them to adjust the offer and set up loyalty campaigns. The solution also offers options for personalization of cashless supports, reinforcing the brand image of the event.
Increased safety
Wilout PAY places particular emphasis on transaction security And the data confidentiality. User information is encrypted and systems are regularly updated to meet the latest safety standards.
Wilout PAY is positioned as a solution multipurpose and reliable, adapted to the needs of small and large events.
Conclusion
Cashless is becoming an increasingly popular solution unmissable for events, thanks to its speed, security, and ability to offer simplified management. Organizers, by opting for a complete solution such as Wilout PAY, gain in efficiency and visibility on their data, while improving the experience of participants. Although cashless presents some challenges, its growth promises to sustainably transform payment management events, offering a enriched and simplified customer experience.
Get started right now in contacting our sales team for a free quote, adapted to your needs!
