No longer we need to bring our wallet while attending a music festivals or concert. The widely use of the RFID (radio frequency identification) system at the major event now becoming trend that spread up not only in the Europe and America market, it also being introduced in Asia Market by PouchNation.
Cashless payment being a new wave on the event industry. While the organizers try to ensure the safety of their guest attendee, they also need to make sure their profit being well maintained. As we know that the event could be held merely not just because the organizer wants to, but it needs a contribution from another party to fund it. Here comes the role of the sponsor.
Funding that comes from the sponsor not just easily fall from the sky. The organizer needs to convince about the event that could give a benefit for the sponsor. Whether it is in the form of profit number or another thing like branding, one way or another it is closely related to their marketing indicator.
Taking the most visible thing to count is a number. That is what organizer on the event industry being used as their vocal point on pitch on sponsor. Using the technology there is a study that proof while using the cashless payment method on the event venue, the attendee more likely to spend up their money and increase the profit from the booth, stalls and refreshment transactions up to 15% to 20%. Another thing that said according to the study is that the guest more likely willing to spend up more on the little accessories or merchandise while they feel like it is nothing much to spend on. That thing is something that definitely will pleased a sponsor while the organizer could assure them on the profit number while the guest spending up their cashless!