Articles related to in-person and virtual events
The team at Tekpon recently tested and listed Oveit with an overall score of 9.1.
To mark the moment of our listing, they have invited us to their podcast. We had the chance to share some insights on how Oveit became one of the leading solutions for eTicketing, NFT tickets, and cashless payments for events and venues.
We really enjoyed being on the podcast and hope you will find the discussion useful.
Imagine that your favorite artist starts playing while you are queueing at the bar. It takes ages as it seems that nobody has their cash ready. And when it comes to your turn, you find out that the seller is unable to give you a chance for your order. Sounds pretty annoying, right? If you haven’t experienced this lately it’s because of the technology that helps event professionals create better live experiences. In this case, we’re talking about using Cashless Payments at events. And their benefits.
Implementing innovative payment solutions at festivals has solved many issues. For event planners and festival goers alike. The scope of this article is to focus on the benefits of implementing cashless payments for your events. While this is far from being the only use case for this technology, festivals have embraced it with the highest velocity.
Later in this article, we will focus on some of the essential benefits this technology provides. Deploying a cashless payments solution at your festival will speed up transactions, prevent thefts or fraud, give you access to real-time reports, and generate new revenue streams.
But first, let’s better understand what we mean actually when talking about a cashless payment system. Especially when focusing on the ones used for festivals and smaller events.
We’re all familiar with the RFID wristbands used at events. They’re used for access control and payments, allowing people to control their experiences with a simple tap of the hand. Do attendees need to pay for a beverage? A simple tap of the hand is enough Or, in a more sophisticated yet easy-to-use environment – scanning a dynamic QR will provide the same result. Do they want to access a specific area and does the support team on-site need to check their access credentials? A tap of the hand is enough. Have they pre-purchased their favorite band’s T-shirt as a ticket add-on? Yes, a tap of the hand is all they need to claim their perk. The all-mighty festival wristband guides attendees through their experience, right? Well, not really.
While I’ve showcased a journey similar to the ones available for most festivals, the wristband itself is not that mighty. But the technology that stands behind it – enabling cashless payments (and more) – is.
The phrase “Cashless payments at events”, in its complete understanding, refers to so much more than a way of accepting payments that are not made with cash. When we talk about a festival and its payments operated through a cashless payment solution, we are actually talking about a local economy. A special ecosystem, where the event itself is the central bank of what happens within its borders. And sometimes even outside its gates.
Within the festival, there are multiple companies with economic activity. Simply put, vendors or sellers. And there is a legit need for them to accept the same payment method. To do it fast and transparently. At the same time, regardless of how many different vendors operate onsite, the organizers need to have a live overview of the economics of the event.
At festivals, depending on their size, the total number of transactions can range from a few thousand to over a million, often in less than 72 hours. You need to have a system that is fast, secure, and stable. When it comes to festivals, not being able to serve customers is probably worse than losing power at the main stage.
The journey for a festival goer starts long before the first note is played by their favorite band. From an operations point of view, it starts when the ticket is bought. Because, for most festivals, the ticket itself is, in fact, the digital wallet that allows attendees to pay, access special areas, claim their perks, and much more. The RFID festival wristband, used by organizers from all over the world, is the gateway that gives them access to this virtual wallet.
When buying the ticket, attendees can also opt to pre-purchase merchandise, special access, addons or top up their digital wallet.
When arriving on-site, they can pay for food, beverage, or merchandise using the cashless payment system, can add money to their digital account, and once the event is over they can withdraw their remaining funds.
Now that we have gone through the entire process, let’s go further and pinpoint the exact benefits of using cashless payments at events or venues. We’ll be listing the benefits one by one, while still keeping one eye on the big picture.
A crucial aspect of a closed-loop cashless payment system is its speed. Because the confirmation message is not required to follow the same steps as for a traditional online payment, these transactions are processed way more quicker. How much quicker? According to reports from American Express, cashless payments transactions are 63% faster than ones including cash and up to 53% faster than classic card payments.
But these differences can be even higher, as cashless payment solutions for events offer edge payment capabilities. This means that through our proprietary technology, transactions are processed locally, at the edge of the cloud, secured by a distributed ledger system, and synced online afterward.
Implementing a closed-loop cashless payment solution is easy. For both vendors and festival goers.
Vendors can accept payments using mobile points of sale while attendees have a payment method they are already familiar with. Vendors can easily create product catalogs, add and change prices, or remove products from sale.
With Oveit, vendors receive an invite to your experience. They can then proceed on setting up their menus and use a mobile POS to get paid when the festival starts. From their dashboard, they can check their sales, better understanding how customers
With no cash changing hands within your festivals, fraud is completely eliminated from on-site transactions. At the same time, it becomes close to impossible for attendees to lose their assets. Especially when allowing them to pay with the RFID festival wristband. The data attendee’s data is securely stored in a private digital wallet, allowing them to easily access their balance and transaction history.
Creating a safe environment for your attendees is crucial. You want them to be able to enjoy the experience without having to worry about the safety of their financial assets.
While the payments are 100% secure, human errors may still appear. But with a local payment system, you can easily repair any such error. Unlike traditional online payments, where any error could be fixed by a third-party institution, like a bank, here you have the authority to fix anything. You can easily refund a client or cancel a payment in a transparent manner, keeping all stakeholders happy.
You can easily onboard third-party venues in your festival economy and generate new revenue streams for your business. As food, beverage and merchandise are extremely important to any festival, using a cashless payment system helps you add new sellers while still having everything under control.
As the owner of this closed economy, you have instant access to sales data from all vendors. Adding new businesses into the space generates new income opportunities for all stakeholders. The vendor gains access to new customers and the organizer can take a cut from those sales. And attendees benefit from a more diverse experience.
Unlike other businesses, festivals are extremely time-sensitive. Hundreds of people work one year to create an experience that lasts just a few days. But during those few days, each second has so much weight attached.
This is why real-time data is crucial for event organizers. This way, they adapt depending on what actually happens at the event. As mentioned above, a smart cashless payment tool keeps track not only of the payments but can also display relevant data on the customer journey.
Based on access credentials and pre-purchased perks, you can see what people are interested in buying, what areas they like to spend most of their time, and what perks they have already claimed.
Each and every benefit mentioned above increases the overall customer experience. But this is a great example of when “the whole is greater than the sum of its parts”.
Looking at the customer journey, it’s easy to understand that we can now personalize the customer experience. As a matter of fact, we can allow them to create the experiences they have always dreamed of.
Customers can create their own tickets, with special access credentials or pre-purchased merchandise, depending on their needs. They can decide how much money they will spend during the festival, where they will hand out, and which brands they decide to share their data with.
And as we all know by now, a cashless payments solution does way more than just allow people to pay. Based on the data recorded, you can better understand what people actually enjoyed and what not. And you can use that information to create new, engaging experiences.
Beyond internal processes, vendors, merchandise, and bands, festivals are about creating memories. Are about offering unforgettable experiences to your attendees. But in order to support these experiences, your operations need to run as smoothly as possible. And this is what cashless payments do to your event-goers.
They allow you to streamline the process, onboard countless new vendors, ensure fast and secure payments, and assist the entire customer journey of your attendees. And while everything runs in the background, festival goers can concentrate on one thing: having the time of their lives.
Did you know that almost 1 out of 12 jobs out there is in the tourism sector? And although the industry took a hit due to the pandemic, things are rapidly changing for the better. With so much weight in the global GDP, eyes are always focusing on what technologies can be used to accelerate growth. So let’s take a look at how to use NFTs for tourism to create better experiences. For all parties involved: travelers, businesses, and local communities.
Yes, those “pretty pictures” can be extremely useful in many fields – and tourism is definitely one of them.
NFTs are one of the hottest subjects for 2021 and 2022. While many of the discussions are focusing on the value of NFT artworks and how much they have been sold, this technology is much deeper than that. For tourism, NFTs’ value stands in their functionality more than it stands in their collectability. But the latter will not be eliminated from this discussion as it has an important role here as well.
But before going further and focusing on the benefits NFTs bring to the travel sector, let’s reiterate what NFTs are and what makes them so powerful.
NFTs (non-fungible tokens) are unique digital records that can’t be altered or changed. They are the representation of a physical or digital good and the code itself holds proof of the item’s ownership and history.
NFTs are stored on the blockchain, and cannot be altered or hacked (or, at least, it’s incredibly hard to). But at the same time, the network’s members have access to this digital record, and information is passed with each transaction, transforming it into a powerful tool.
Travel is all about the experience. But at the same time, the travel industry relies on technology more than it’s seen to the eye. Until now, the technologies would solve particular issues and would rarely actually be interconnected. The result: fractionated data and fragmented experiences. But this is about to change.
Powered by the buzz created around them, NFTs are a great marketing tool used by companies around the world. The uniqueness of these digital artworks, powered by their secure public record, makes them very appealing to collectors.
An example here offers Marriott International and its “The Power Of Travel” campaign. The company partnered up with digital artists to create three unique artworks. The winners were picked randomly and won the NFTs together with 200,000 Marriott Bonvoy points that could be used within the hotel chain.
These campaigns are extremely efficient for newsjacking, bringing the event in front of large audiences. But as we can see from this example, the NFTs can give exclusive access to multiple benefits, or rewards, and this takes us to the next benefit of using NFTs for tourism.
With high acquisition costs and thin profit margins, recurring customers are extremely important in tourism. And the existing loyalty programs can be powered up with the help of innovative technologies like NFTs.
Similar to an existing loyalty card, an NFT can be used to accumulate brand points within the ecosystem. Only this time the NFT is available for resale in a transparent and safe manner, and the issuer can take a cut from these transactions in the form of royalties.
Unlike traditional loyalty programs, an NFT can be the gateway towards multiple ecosystems, allowing businesses to collaborate. Who benefits from this? Every stakeholder. Customers can use the same “loyalty card” in multiple locations. Businesses have access to large audiences. Local authorities can jump in to create customer journeys, acting like the binder that holds everything together.
Gamification is one of the most important aspects of a vacation. Except if you’re planning to lounge by the pool for a full week – something we all dream of once in a while. But let’s see how to use NFTs for gamification in tourism.
Imagine going into a new city and visiting some local museums. The local authorities can issue an NFT ticket that gives you access to all of the local attractions.
Each time you use it, the system records the information. Once you visit 3 locations, you automatically receive an add-on granting you access to a local play. Visit 5 locations and win a “proof-of-travel” NFT that gives you a 50% discount on the local festival. NFTs are based on smart contracts, remember? We can now easily create the experiences we’ve always dreamed of for our guests.
NFTs are the perfect tool that mix gamification and loyalty programs. Each action taken by the tourist can be followed by a “reaction” within the system. You can create different “activity maps” that unlock access to unique perks. And each of these actions can result in a unique NFT for your guests to collect. As we have mentioned at the start of this article, NFTs prove their value through their utility and collectability.
How many magnets do you have on your fridge? I for one have quite a few – and these are just the ones that survived multiple moves and various accidents. What if instead of filling up your fridge with a limited number of magnets you could fill up your digital wallet with an unlimited number of NFTs? (at least) one for each place you have ever visited.
The collectible trait of NFTs makes them perfect for those looking to collect memories from each of their trips. You can create your own collections and store them safely. Each time you want to revisit those memories, they’re just a few clicks away.
What makes them even more valuable is the impact they can have on the local economy. These artworks can be inspired by local heritage and created by local artists. And the smart contract that governs them can be set up so that a small cut returns into the local economy each time a piece is bought. Perpetual royalties to support the local economy.
And this takes us to the next benefit. One that is too complex to be fully covered within an article. But the one that will forever change the tourism industry for the better.
Royalties can be set up with NFTs, meaning they can be programmed so that multiple parties benefit from a payment. You buy a collectible NFT, and x% goes back to the local creator. Or to a local organization supporting different causes. If you pay $2 for such an item you may be inclined to think that a 5% cut going back to the community doesn’t mean much. But the power stands in numbers.
And things can be way more complex than this. As we said at the beginning of this article, NFTs are digital records that can represent physical or digital goods – basically anything we can think of. Even share within an art gallery owned by the local community. Or a restaurant. Local businesses can rely on NFTs to attract private investments from their peers.
The smart contract will enforce rightful payments toward each party that supported the business. This is a new, easier way for local communities to stand together and deliver services and products to visitors.
You probably already know how NFTs are used for ticketing, not let’s take a look at how the hospitality industry can use them for bookings as well. Ca Di Dio, a hotel in Venice, leveraged the technology before opening its doors to tourists. The NFT issued by the hotel included a stay and its most prestigious room, a private dinner, and a boat transfer to the hotel. This project implemented by Tripscommunity is a great example of the utility that can be held by NFTs. For tourism, this means that customers can book their stay through NFTs, but also purchase additional services and experiences as well.
The booking can include access to a spa, a private dinner like in the above example, and even access to a local event. All the information is securely stored on the blockchain, making the transaction transparent. And what happens if the client is forced to cancel the trip? This NFT can be easily resold by the initial owner, automatically updating all the information for all parties involved. No need to cancel the package and issue a new one – the entire experience can be transferred to a new owner while the authenticity of the ownership and of the transaction are guaranteed by the network.
You read that right. NFTs can be a payment tool and tourism can benefit from this. We’ve just seen the multiple values it can store, and purchasing power is no different. Consider it as a preloaded debit card, governed and secured by transparent rules. But unlike your typical debit card, this one is also your hotel booking and your loyalty card.
There are two main issues that stop people from spending when traveling abroad:
And as hard to believe as this may be, using NFTs as a payment tool solves both of them. You’re no longer dependent on one single system that processes the information and sets up the rules. You can use your digital wallet anywhere in the world and any business, no matter how small, can accept payments from you. Fast, secure payments, are essential in tourism.
Have you read this article as a list of independent benefits NFTs (can) bring to the tourism sector? Now imagine that each benefit is part of the same experience. One NFT to rule them all.
You hear about hotel marketing stays through NFTs. You take a look and see that you actually always wanted to visit that city, so you book your stay. And here is where the magic starts. From here on, imagine that you are using that hotel reservation in the form of an NFT – and that the above subtitles are checkpoints throughout your journey. This is the future of travel.
At Oveit, we’re helping event organizers create immersive experiences through our NFT ticketing tool. But we feel that NFTs have the power to transform tourism, for travelers and local communities alike.
Being part of the event management industry, we had the chance to work with visionary leaders from all over the world. Working with such partners has always forced us to adapt and innovate, making sure that Oveit is the ticketing tool they (and their communities) are looking for. And crypto payments make no difference.
But it’s time to say that crypto payments should become a thing. The market itself evolves at a speed never seen before: according to a report from Crypto.com, by the end of 2022, there will be 1 Billion crypto users! That’s a 10X increase in the span of just two years!
This opens new possibilities for businesses in general and event organizers in particular: accepting crypto payments to easily onboard this new generation of customers and event attendees.
But the rapid growth in popularity has its shortcomings. There are still many myths around the industry and accepting crypto payments, especially for event organizers, may seem like a hard thing to do. But it shouldn’t.
That’s why we made it easy for events and venues to accept crypto payments for tickets. Here’s how you can accept crypto payments for your events with Oveit.
Our event management software helps thousands of event organizers create full experiences. Sell electronic and NFT tickets, check in attendees, and set up a cashless payments system – no coding required.
We work with Crypto.com and Utrust to accept crypto payments and with PayPal and Stripe for fiat currencies. We work on direct payments, meaning each time an order is confirmed, money goes straight into your account.
Our easy-to-use solution helps you get started in minutes. Set up ticket categories, registration forms, and add-ons, invite team members and create your own event economy with Oveit Pay. Our real-time reports will help you get an overview of your experience.
You can easily embed the registration form on your website or send registration links to your customers.
Yes, selling tickets for crypto has never been easier. But while the technical implementation is frictionless, you may ask yourself why you should accept crypto payments for your events. To answer this question, we’ve prepared a short list of the benefits of doing so. Based on our experience, customers prefer to have multiple payment options, and crypto payments have gained more traction in the last two years.
The days when accepting crypto payments was a time-consuming chore are fortunately behind us now. Nowadays, businesses from all over the world can easily accept crypto payments – without the need for any technical background.
Our crypto payment processor partners will help you get paid in various coins, taking care of all the complicated processes that may take place in the background. All you need is to create a merchant account and connect it to Oveit. Afterward, each payment will go straight into your account, without having to wait until your event is over in order to get access to your earnings.
It may sound hard to believe, but accepting crypto payments is actually cheaper than working with fiat currencies. Over the last few years, the crypto market benefited from incredible investments. In both financial capital and manpower, thus creating an infrastructure meant to serve its users.
While the traditional payment processors’ fees are, in general, between 2 and 3% + a fixed amount, the norm for crypto processors tends to be just 1% of the transaction. This will help you better budget your event and have total control over your money, without having to spend enormous amounts on unnecessary fees.
Events are international gatherings. Over the last few years, we’ve had a chance to be part of hundreds of events in different parts of the world. And one thing is certain: events gather like-minded people. Regardless of how long they have to travel to be part of these extraordinary experiences. By accepting crypto payments you allow attendees from all over the world to easily secure their place. Without having to worry about local currencies and high exchange fees.
As more customers tend to avoid fees related to the classical banking system, crypto payments will allow anyone, from anywhere, to easily purchase tickets for your next gig.
Customers that are looking to pay with cryptocurrencies represent a new segment, one who otherwise may not be tapped into by your business. According to Forrester Consulting, US-based businesses that started accepting crypto payments attracted new customers, 40% of which were new customers that spent, on average, twice as much as credit card users. It’s safe to say that allowing attendees to buy event tickets for crypto will allow you to interact with new audiences.
Global cryptocurrencies have a total value of $2 trillion (as of 2022), and accepting crypto payments will allow you to tap into the wealth created by them.
Accepting crypto payments can also be a marketing hook. Each new technology has seen its share of early adaptors. But none had the ability to create such loyal fans as blockchain did. And although it’s safe to say that blockchain and cryptocurrencies are heading towards mass adoption, the enthusiasm has not faded. In fact, we see a continuous increase in both enthusiasm and user base. And events related (directly or indirectly) to Web3, blockchain, and NFTs benefit from this wave of passion.
Allowing customers to easily purchase event tickets for crypto will make them spread the word about their experience; not once we’ve seen it with our existing customers. For both crypto payments and NFT ticketing.
Decentralized payments become more popular each day. New customers are onboarded in the crypto world, encouraging more businesses to accept different payment methods from their customers. And based on the adoption rate seen today, it’s expected that by 2030 almost half of US citizens will own cryptocurrencies (43%). And these numbers will be considerably higher in countries with poor local economies.
The future is already here – especially in the event management industry. As more and more customers, especially those from the younger generations, are looking for alternative payment options, we hope that this article helped you get a better understanding of how to accept crypto payments for your events. And why you should start today.
To mark its 160th Anniversary, the Romanian Post launched an NFT collection of 160 digital stamps available for purchase. And Oveit was there as the technology partner, ensuring that anybody interested could easily purchase the NFTs.
The entire event is built around the number 160. 160 years since the Romania Post was established through a Royal Decree, 160 digital stamps were minted as NFTs, each representing a year in the Institution’s history, 160 Euros is the price of one NFT. However, this number has another significance as well. 160 Euros is the cost for a hospitalization day at HOSPICE Casa Sperantei, the humanitarian organization helping those suffering from incurable diseases.
All earnings resulting from the sale of the NFT collection are going to HOSPICE Casa Sperantei, the collection having an entirely charitable purpose.
We were honored and extremely happy to be part of this project. We’ve always treasured innovation and made our best to create software solutions that help others. That has an impact on the communities that our partners are serving. And this project checked all the boxes.
The 160 NFTs have been divided into two categories: 10 of them, representing years of significant importance in Romania’s History, have been selected for an open auction. Of course, the starting price for the auction was 160 Euros. The rest have been sold online, for a fixed amount, here.
Oveit was initiated as an event ticketing software, developing more complex solutions like cashless payments software, digital wallet, or NFT ticketing. This helped us understand that one of the most important parts of developing powerful software solutions was to make them easy to use.
The National Post needed a technology partner to make the NFT acquisition as flawless as possible.
Payment. When trying to reach broader audiences you need to take into consideration several potential concerns. And payment can be one of those concerns. To make the collection available to a larger audience, we’ve activated payment with both crypto and fiat currencies. Yes, with Oveit customers can easily pay with fiat currencies for NFT tickets (or NFTs serving any purpose for that matter).
As mentioned, we focused on creating a solution that allows customers to buy NFTs as easily as possible. The whole experience can be embedded into any website, allowing you to customize the buying process.
Just like ordering an e-ticket, customers can select the desired amount and proceed to the next steps. Being built on top of a registration system, Oveit allows you to collect relevant information from your customers, helping you better understand their wants and needs. Once these steps are completed, the customers are redirected to the payment page – but not before allowing them to select how they want to pay for their NFTs; through fiat (through Stripe or PayPal) or cryptocurrencies (through Crypto.com).
Once the payment is confirmed, customers are redirected to a confirmation page where they can connect their wallets. As Polygon is our technology of choice, we provide two options here:
When the wallet is connected, the minting process starts. The minting is done by Oveit, with the help of our partners, and it doesn’t require any extra steps from you or your customers.
Having the NFT is minted, Oveit sends an email to the buyer. The email will offer more information on the collectible and has direct links to Rarible and OpenSea, allowing the buyer to check the artwork. A step-by-step tutorial on how to claim an NFT issued with Oveit is available here.
We are happy to see more and more event organizers, artists, and businesses using our NFT ticketing feature. Technology has the power to transform the entertainment industry. We feel that all ticketing will become NFT ticketing.
Oveit’s NFT ticketing tool helps you:
However, our experience showed us that there is a huge untapped market, as the process of buying an NFT may be considered difficult by some. This is why we are now working on a solution that will allow anyone to buy and use an NFT; even those that don’t own a digital wallet.