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Jan 20, 2021

The Contactless Payment Solution for the Sports & Entertainment Industry

COVID-19 affected many industries in mid-March 2020 when the pandemic became quite severe, forcing businesses to close their doors. The sporting industry came crashing down as organizations were unaware of how to react.

After a year of the pandemic, many enterprises have shifted to technology to aid them in these times. We've seen businesses go cashless to minimize the risk of transmission, keeping their staff and customers safe.

With the distribution of vaccines, many of us can see the light at the tunnel's end. What does this mean for the sporting industry? It means that it's time to look at technology, specifically Uptix, to bring your fans back to your stadium safely.

What is Uptix?

Uptix Stored value tickets allow teams, venues, or stadiums to load money directly onto a fan's ticket to be used as a form of payment at merchants or concessions throughout the venue. Stored value tickets are a win/win for venues, stadiums, fans, and sports teams alike to help achieve profitability and minimize risk using contactless payment throughout the venue.

A Form of Contactless Payment

givex-blog_012021_body-1.jpgStored value tickets have the potential to create cashless concessions. While cashless concessions enhance the fan experience and operational efficiencies through increased service speed, they can also decrease the costs and risks associated with cash handling. As 66% of fans are more worried about venue hygiene (study by Performance Research), once the venue reopens, operating cashless and only accepting contactless payment will reduce the risks with cash handling. Stored value tickets can help teams and organizations better use this change in fan behavior to their advantage.

Why Do You Need It? Benefits of having the System in Place.

The promotional possibilities with stored value tickets are endless. The initial use case is for a team to add value to tickets as a type of fan appreciation. Additional ways to further promotions and fan experience include loading money onto tickets based on in-game events, such as $5 for every grand slam or $10 on tickets if a pitcher strikes out three batters in a row. Another way could be on the first returning game. As a thank you for fan dedication, the venue could add value to all tickets.

givex-blog_012021_body-2.jpgVenues can even use the ticket to work with their vendors and concessions to sample new products to determine their success or failure or push a sponsored product. When adding the monetary amount, one can enable a rule that the amount can only be redeemed for a specific item or perhaps at a particular vendor. Through analysis and reporting that comes with Uptix, the organization can track these specific products' redemptions.

A fan portal can be created as an optimal corporate incentive. When a corporation or business purchases season tickets and uses them as gifts to clients or as relationship management tools, with a fan portal, they can now add money onto tickets ensuring their guests and employees are well taken care of during the game.

Uptix technology transforms any event into a celebration, with fan engagement tools that raise the bar on fan experience via in-game promotions that ignite the stadium.

  • Real-Time, In-venue promotions
  • Product-specific promotions (SKU)
  • Member promotions- Season Ticketholders + Family Value Tickets
  • Influence fan Behavior and spending
  • Customized promotions

 

E-Gift Cards also Work Together to do a Combo Pack.

E-Gift cards/Digital Cards are another great way to implement a cashless solution to your venue. As more fans will be cautious about their safety at the venue, it's time to combat that fear with a contactless solution. E-Gift cards act as the perfect tool to avoid handling cash at crowded venues. Customers can load e-gift cards in real-time and use them at all merchants and concessions at a venue to create the perfect cashless, contactless experience.

Even through the pandemic, "the global gift card market was valued at $619.25 billion in 2019 and is projected to reach $1.92 trillion by 2027, growing at a CAGR of 14.9% from 2020 to 2027", according to Allied Market Research. With the rise in usage of gift cards, businesses in all industries have come up with creative ideas to boost gift card sales. Stadiums can even encourage the use of contactless payment by adding loyalty points or rewards. For instance, if a fan purchases a gift card of a certain amount, they receive a 10% discount on their next purchase. Leverage the situation that COVID has placed to your advantage by looking at contactless payment solutions such as gift cards.

 

givex-blog_012021_body-3.jpgWant to combat your fans' current fears and concerns? It's time to invest in technology. 

Contact Debbi Blackburn, VP Business Development: debbi.blackburn@givex.com