After a strong 2014, many event organizers are coming to realize what we’ve known since launching IntelliPay: that the future of live events is trending towards a completely cashless environment. As the market continues to adopt the technology, new ‘cashless’ suppliers continue to enter the space. As you evaluate whether the technology is right for your event, take a step back and lay out your criteria for an ideal partner.
At first glance, cashless solutions providers may all appear to offer the same (or similar) technology. This is often not the case. The nuances between online and offline operations and open- and closed-loop technology may appear to be minimal, but in reality these nuances can make a huge difference in the fan experience and your bottom line.
At Intellitix, we take the long-term view with our clients. In fact, we consider them ‘partners’. The ability to pay for goods and services is such a critical element of your event; you need to feel like you have a partner working with you to streamline the guest experience and to help guide you through the process if you’re making the switch for the first time.
Here are the top five tips to consider when choosing a cashless payment partner.
1) Look at the company’s track record
It’s important to find a provider with a rock solid track record. Look at the caliber, size, and reputation of the events they’ve serviced. Make sure the provider has achieved growth and continues to service the same clients year after year. Client retention is critical, and speaks volumes of the company’s credibility and reliability. Don’t be afraid to ask your suppliers tough questions: What events have they serviced that are just like yours? What did they learn? How does the training process work? How does reconciliation with vendors work? Who manages customer care? What are the best practices in rolling out the communications and marketing elements of a cashless payment solution? These questions are vital to the success of a true partnership.
2) Ask for client testimonials and feedback
Find out firsthand from a direct source what the experience was like working with the partner. What were the major wins? Challenges? Did it make a difference to their bottom line to use a cashless payment system? Will they be using the same supplier again? Look for clients with events similar to yours (e.g. size, reputation, location, solution used), as you’ll likely have similar needs.
3) Experience the technology for yourself
Spend some time at fellow festivals where the technology is being used by real patrons! Watch guests interact with the technology. Watch the service staff and customer care. Imagine how cashless would be deployed at your event site and envision what you would change if you had the opportunity. If you’re interested in seeing the technology first-hand, ask us!
4) Know you will have their support throughout the event
Don’t let anyone convince you otherwise, going cashless is a large endeavour and anyone who downplays the changes, education requirements, or deployment modifications has not been involved in the implementation of a large-scale transition to cashless. Our team has been carving a path: educating patrons, bartenders, vendor managers, and event organizers in the front lines at events like TomorrowWorld, Digital Dreams, Squamish Valley Music Festival, Electric Daisy Carnival Orlando, and Rock ‘n Roll Wine. We know that reliable technology is half the battle. The education, training, planning, and execution means everything.
5) Work with leaders in the industry
There are often imitators, but the standout providers are the ones who continuously innovate to improve processes and your overall event experience. Work with a partner who understands events and has invested heavily in making sure their system operates at full capacity, 100% of the time.
Working with a service provider with a proven track record and a roster of big name clients that can attest to their robust and reliable technology solutions will serve as a big win for your event going cashless for the first time. Do your research and make an informed decision.