Music festivals are a tried and tested tradition. From the early days of Woodstock and Glastonbury, through to the modern Coachella and Tomorrowland experiences, they have long been heralded as a perfect summer activity, but previously it was all too easy to lose personal belongings and money.
In the beginning, tickets were purchased from the entrance to a venue, or at ticket stalls. Both of these methods required queueing for significant lengths of time. But, with the advent of modern technology, the internet and payment processors, these have swiftly been replaced.
PayPal is a leading global payment processor and it trialed its product in conjunction with radio-frequency identification (RFID) bracelet technology to see what a cashless festival would look like. Interestingly, RFID Journal reported on how the vendors at Low Festival who took cashless payments reported a 20% increase in sales as a direct result of the experiment.
In using technology that removes the need for cash, events can drastically decrease the time people spend waiting in line for drinks and meals, while also minimizing their risk of losing money. It is vastly easier to lose cash than a bracelet worn on the wrist. Furthermore, attendees can designate a specified amount to load onto the device and so, at worst, only risk losing what it is on the bracelet…..
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