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The new reality of the nightlife sector also adds to the digital transformation. Whether clubs, discotheques, or any other entertainment venue, they are digitizing towards an era where the user, also increasingly digital, is looking for unique and original experiences. In the following article we talk about cashless payment systems, which make life easier for attendees while they enjoy without queues and without worries. Do you know the advantages of including it in your business? We tell you about it!

What is the cashless payment system?

You have probably heard of the term “cashless system” which refers to any economic transaction where the money is digital, not physical. Above all, its use has been monopolized in the events and shows sector.

In the context of nightclubs or any nightlife venue, when we talk about cashless we refer to the payment method that eliminates the use of cash used inside the venue through NFC technology. Normally this management is done thanks to the event wristbands. But it is not only a payment system, on the contrary, this tool provides us with many other opportunities to streamline the operational, logistical and digital processes of the event. It is a cutting-edge digital revolution for the nightlife sector.

Before continuing with the benefits that the cashless payment system brings to the nightlife sector, we must bear in mind that we can make use of it through different payment methods, each of them of a different nature.

Different cashless payment methods

  • Cashless system with bank cards. When we bring our credit or debit card to a POS to pay at any establishment, we are using the cashless system. Regardless of whether we use our physical card or a smart device. Technology allows us to pay with our cell phone or smart watch in a faster way and without having to take out our wallet.
  • Cashless system with tokens. This is undoubtedly the most traditional method of payment at festivals. It is a payment system and a specific currency implemented by the organization of the event. For example, the purchase of a drink for the value of the token determined by the organization, instead of its equivalent in euros, is another cashless payment system.
  • Cashless system using a wristband or NFC card.  As mentioned above, this is the favorite method of attendees and event organizers for all the advantages it brings. With a wristband on your wrist, previously loaded with money, you can pay for drinks quickly and easily. In addition, this technology allows you to add money to the wristband or card, depending on the support chosen by the promoter, at any time and request a refund of the remaining money at the end of the night.

Advantages of using cashless payments at events

The digitization of payments boosts management and operations in the leisure sector, both for attendees and business owners. Let’s take a look at some of the benefits of using a cashless payment system.

Eliminate cash in bars and counters

To begin with, with the use of cashless at the cash bars, the money is centralized in the same smart POS, avoiding that the money is distributed in different points of the premises, with the risks that this entails. 

Eliminating cash at nightclub bars also favors more consumption. The customer’s perception of spending is different and increases compared to using cash. In addition, processes are streamlined and waits are reduced, with just a flick of the wrist you can pay for a drink. This translates into increased sales and revenue for organizers and an improved user experience.

Cash drawers count and closing 

As we have been saying, a cashless system provides many more advantages than just being a fast and efficient payment method. When we use this payment method in a smart point-of-sale device, its technology allows to automate the checkouts in nightclubs, avoiding the unplanned cashouts. In addition, these tools have integrated software that collects Big Data in real time of everything that happens during the party.

Expand your sales capacity

From the information we collect thanks to the business intelligence applied to this technology, we are able to obtain accurate and detailed sales data in real time, something that is impossible with other payment systems. For example, we are able to know the status of the drinks and replenish the bars before they run out or even know which product has been the most liked and at what time frame it has been consumed the most.

In short, the statistics and knowledge of the consumption habits and preferences of the attendees, provided by the cashless payment system, help us to offer them a more personalized experience. In addition, wristbands are a great branding element in a nightclub. Who hasn’t collected wristbands from summer festivals? Now it is possible to do it with those of your favorite clubs or pubs.

Join the cashless revolution

As we have seen, reducing the use of cash inside a party venue improves the user experience, the company’s brand image and increases the actual revenue. A technology that has come to revolutionize all entertainment sectors! 

Digitize payments and streamline the operational processes of your business with Gofun. We adapt to the needs of your sector. When it comes to payments, with our technology you can choose cashless or contactless systems or combine both thanks to our business intelligence and data analysis tools. Contact us!