At cashless venues, visitors use digital money instead of real cash. This ‘money’ is stored on a wristband, card or any object embedded with a chip.
To ‘spend’ money, visitors simply tap the object against a scanner that records the payment amount. To load funds another tap does the trick. The transaction is competed in real time and the system is automatically updated so the visitor knows their balance and organisers have instant reconciliation.
It’s quick, it’s easy and more practical than physical money for everyone involved.
We believe the question is more a case of why wouldn’t you go cashless. It’s a system everyone benefits from: