Most people today rarely ever carry physical cash. With the flurry of online payment options and devices that process credit cards on the fly, there’s not really a good reason to make a trek to an ATM.
One area where cashless payment can be most advantageous is at music and cultural festivals around the world. At South by Southwest (SXSW) this week, Connect&GO and Mobeewave announced a partnership to change the way cashless payments are accepted at big events.
Through the use of Connect&GO’s RFID solution offering and Mobeewave’s payment technology, these Montreal-based companies are equipping event organizers with the ability to process payments that include credit, debit or RFID tags through a single device — the mobile phone.
What makes this offering unique for event organizers is the fact that these payment forms are being processed wirelessly. Connect&GO’s CEO Anthony Palermo commented to Finextra on the reasoning behind his company’s decision to move forward with this partnership: “Our clients were looking for payment options, and we’re always committed to innovation and testing new ways of supporting consumer behavior, so this partnership made total sense. It’s really a win-win-win: for the vendor, the organizer and the patron.”
Following its SXSW launch, this type of payment processing has the potential to revolutionize not only events, but also the overall retail industry. At brick-and-mortar outlets like Apple, there are already wireless credit card payment options. Adding on the ability to process debit and RFID tags only widens the possibility to enhance retailer’s bottom lines and significantly impact checkout lanes.
No consumer enjoys waiting in a line at a store. As such, the faster payments can be processed to get people out the door, the happier everyone involved will be.