Today In Data

Today In Data: Bypass Mobile Revamps POS

When it comes to managing sporting and special events, efficiency is everything. Concessionaires and other vendors battle large crowds, customer demands and time to achieve high payouts. Sports concessions is one of the only businesses in which managers must staff to peak instead of average, something that carries over to the rest of the event’s elements, like number of venue entrances, network firewall capacity and point-of-sale (POS) system capacity, among other elements.

And, speaking of POS abilities, Bypass Mobile CEO and Co-Founder Brandon Lloyd noted speed is “the name of the game in physical payments, especially for food and beverage.”

His company leverages inadequate POS technology to help concessionaires and vendors at sporting events see maximum returns.

“We were leaving a lot of money on the table,” Lloyd said. “The market was behind, and [there] was a way to create a lot of value quickly, by improving speed.”

Brandon Lloyd explained the biggest challenge in competing with these terminals from a bygone era isn’t developing better technology, since that’s almost a given, but rather convincing organizations to focus on one to three changes that will deliver the most business and guest value. And, well, there are plenty of reasons to do this.

Here are the numbers:

300 | Higher end of the number of food and drink outlets running simultaneously during a stadium event (typically 100 to 300)

41 | Percentage of market share Bypass Mobile holds in some aspect of stadium concessions for MiLB, MLB, NFL, NBA and NHL teams

25 | Or fewer, the goal number of “dark days” without events for big sporting venues

15 | Average length of productive windows for concessions sales at sporting events

6 | Average number of hours event concessionaires must sell high volumes of goods

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New PYMNTS Report: The CFO’s Guide To Digitizing B2B Payments – August 2020 

The CFO’s Guide To Digitizing B2B Payments, a PYMNTS and Comdata collaboration, examines how companies are updating their AP approaches to protect their cash flows, support their vendors and enable their financial departments to operate remotely.

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