FSM


Features


Cashless is here to stay, despite the industry talking about it for a number of years now, we’re still not at a point where the majority of stadiums have embraced cashless payment systems. There’s been a definite swing towards cashless stadiums in 2018/2019, and cashless retail in general, over the course of the past couple of years. We are seeing more and more high-street stores saying they are moving to a completely ‘cashless’ experience, and the prevalence of easy-to-access card payment devices and apps means that customers are expecting to use their debit or credit card in more situations, whether that’s at a restaurant, a stadium or even on a market stall. League two Bury FC, in conjunction with a major sponsor, were


one of the first football clubs in the UK to integrate cashless technology in their Gigg Lane stadium, the national stadiums of Wembley and Twickenham have followed suit and now Tottenham Hotspur’s new stadium has been created fully cashless. However, in general, stadia are not keeping up with the same rate


of cashless innovation adoption as the retail sector. In retail, over 50% of transactions are completed by card, however, in the stadia sector, many stadiums’ card transaction percentage is at around the 20% – 30% level. One of the reasons for this is that the act of going to a football match is one of routine for many people. Having cash ready to


Cashless IS KEY


pay for drinks and food once


they were at the stadium is something they are used to doing. Potentially some fans may use cards in club shops or megastore’s or even in surrounding shops or pubs prior to the game but why the change to cash once they


reach the stadium? Why do we see these transactions differently? Moving to cashless in the stadium sector requires some investment


but also a confidence in pushing cashless payment solutions and facilities to help make this move quicker for their fans. The benefits can be significant. The average customer spend per visit to a stadium event can increase when using a card payment instead of cash due to the psychological effect of a non-cash transaction, as well as the fear of running out of cash itself. Additionally, the time to serve each customer is reduced. There


is a very short window of time within a match when customers require serving, increasing the number of customers served in a 15-minute window can have a huge impact on the revenue numbers at the end of the day, and also improves the experience for fans who aren’t having to wait in long queues. The speed of transaction is a key benefit. The average cash payment typically requires 15 seconds to complete; including handling change, proffering receipts etc. A


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