7 reasons why you should use a cashless payments solution for events

I am a huge fan of the cashless payments solution, there’s no secret here. Today I would like to list 7 of the most important benefits of using one for your events.

picture showing Oveit's cashless payment solution used at an event
1. The cashless payments solution increases your revenue

As the cash habit fades away, customers tend to increase their spending limit. Reports show that attendees tend to spend up to 30% more at events where a cashless payment system is in place. They love to buy, but they just don’t like the long queues that make them lose all the fun. Which takes us to reason #2.

2. It speeds up transactions


The tap and pay system is, by far, the fastest way to process transactions. According to American Express, cashless payments are 63% faster than cash transactions and 53% faster than classic debit/credit card transactions. Each transaction can be processed in under 5 seconds, a mid-sized cashless payment set-up allowing you to process over 20 transactions/second.

3.Detailed live reports

The cashless payment system gives you live access to real-time data. It’s 100% transparent, allowing you and your partners to see live how much money attendees are spending (and how). It also allows you to create “cohort reports” and segment your attendees based on their spending habits (and combine those reports to any demographic data you have collected).

4. Fraud and losses become a thing of the past

With a cashless payment system in place, fraud becomes almost impossible. Not handling cash or tokens will make it impossible for someone to steal the vendor’s income or the attendees’ money. Human errors may still appear, but with an easy to use cashless payment system, they are highly unlikely and easy to correct.

5.Multiple revenue streams

Using smart NFC tags for payments allows you to also use them for attendee engagement and experiential marketing. The event ticket is paired to the tag (that can be stored into the event wristband, card, or badge) and allows attendees to interact by a simple tap of the hand. It can also be used for smart screens and gamification, converting your event into one fun ecosystem. And sponsors are always attracted to new ideas for attendee engagement.

6. Less staff needed for access control

The event wristband can also store your attendees’ access credentials. Permissions can be checked by a simple tap to an NFC receiver, allowing you to delegate your team members to more important tasks. It’s also faster than traditional scanning, allowing attendees to move to different sections of your festival without having to wait in endless queues.

7. Increased overall attendee experience

I have saved it for last but in my opinion, this is the most important benefit of using a cashless payment system. The speed and safety that it adds to your event will make the whole experience unforgettable. Not having to carry your wallet, being able to purchase a beer without having to wait for ages, allowing you to use your wristband to claim perks, those are all benefits that we all crave for.

Why use our cashless payments solution?

What differentiates us? With Oveit you can set up a cashless payment solution without the need for expensive hardware. We have developed a mobile app that transforms your mobile phone into a powerful and easy to use POS. No need for special scanners or NFC devices; add credit and record purchases using just day to day mobile phones.
Another reason why you should definitely use or solution is that it works both online and offline. And because it does not require a special set-up it can be used in any location you wish. Like a remote island or the top of a mountain.

Contact us for more info.

November 26, 2018 Event management, Event tech, Events, Festivals, Oveit Features 1 comment

Why and when to use conference apps? Partner spotlight: mReady Meet

For the past years we’ve worked with some of the best minds in mobile app development: our partners at mReady. Given the rise in mobile apps usage at conferences, we’ve asked them for some tips. In this interview you’ll find out how and when should event planners use conference apps.

1. How and why did you start building Meet?

Six years ago, when mobile apps were just on the rise and we were just beginning our journey as mReady, we thought would be a good idea to build an app for a conference some of our friends were organizing. So we did.

Over the next 3-4 year we have been constantly improving it, based on the feedback we got from the conference attendees and organizers. A couple of years ago someone approached us to request a similar app for their conference. Shortly after we did that, other requests for event mobile apps started popping up. It was a sign the time had come to take the next step and bring Meet to the market.

Mready meet team

2. What was the toughest challenge in building a product that fits the event planners’ needs?

The main challenge in building Meet was meeting the users’ needs. How do you manage to offer an outstanding event experience to the attendees, while also giving organizers the proper tool they need?

You cannot only focus on one aspect of the product, because if attendees don’t like it, they won’t use it, hence the organizers efforts won’t be paying off. Likewise, if the organizers can’t see the benefits for them and their attendees, they won’t know why request it.

3. Is there an event size where you would recommend conferences to start using mobile apps?

There are a few parameters to take into account when deciding whether to use a mobile app at an event. Some of them are the number of attendees expected, the number of days, stages and locations.

For a 1 day – 1 stage event dedicated to less than 100 people, there is very little to no need for an app. As the number of days, stages and / or locations increases, so will the necessity for an app, in order to better and easily structure all the event information and pass it on. At events larger than 150-200 attendees, even if it’s a one day event, the networking component of a mobile app becomes super useful.

Mready Meet app

4. Where should event planners look for Return on Investment when launching conference apps (visitor satisfaction, loyalty, increased interaction etc.)?

Because of the relatively high cost for a mobile app, it’s good to make sure it will have a positive return on investment. Since we’re not talking about an ecommerce app, it can be difficult to identify the right metrics to take into account for ROI.

However, there are a few elements that are worth considering. Since the smartphone is usually at an arm’s reach, it’s easy to get real-time content feedback from the attendees. By being able to communicate in real time all the event info, a mobile app contributes to building trust towards the event brand, increasing brand awareness.

For recurring events, an branded mobile app can also be turned into another promotional tool. Still, the most important element to focus on is the community. By facilitating meaningful connections between event attendees, a mobile app is addressing the very need for belongingness, which is one of the five primary human needs, and has become increasingly important in present times.

5. What should any event planner know before requesting a mobile app?

With the ROI in mind, it’s worth mentioning that a conference app, just like most of the other mobile apps, is not a loyalty tool in itself.

Just because you own a conference app it doesn’t mean that people are going to fight to get it without any communication effort from your behalf. It is the event organizer’s job to promote the benefits of using the event app to their attendees. In order to help it meet the ROI goals, the app has to be intensely promoted. And this can add to the marketing effort event organizers already have.

6. Why are customized apps better than off-the-shelf conference apps?

When talking about the difference between an off-the-shelf standard mobile app versus a customized or branded one, there is no better or worse. It all depends on the organizer’s needs. An off-the-shelf app is usually less expensive, less customizable and could require more persuasion skills for the attendees to adopt it. Nonetheless, is can be a very good option for low budget event organizers who want to offer a mobile app experience. The are some very good options for non-branded event apps available.

On the other hand, a customized conference app is focused entirely on the event’s brand identity, with many options for customization. At the same time, it becomes an integral part of the event experience and would be adopted more easily by the attendees. The need to explain the benefits of using an app during the event to the attendees is still there, however it’s simpler to be integrated into the overall communication plan.

Here you go – 6 great tips from a great team. If you need to get more insights, be sure to visit their app page and ask for a call. They will be happy to walk you through the app’s features and you can get a feeling of how your event would benefit from it.

February 6, 2018 Event professionals, Event tech No comments yet