No matter how technology-consumed our world becomes, cash is still the ruler of the economy. Physical, in-your-wallet bills are the thing you're supposed to be able to count on, to use whenever you choose. In fact, while some places only accept certain credit cards (if they do at all), cash is cash, and no one can argue with that.
Sure, cash is universally accepted, but it can be rather inconvenient at times, and companies are beginning to look for easier ways. Take for example at a music festival. Anyone who frequents these kind of events knows that the less you have on you, the better. In between running around all day or dancing through the night, there are a lot of opportunities to lose your wallet and all the cash in it. This year has seen quite a few technological innovations aimed at making the festival experience an easier and less worrisome one.
According to PayPal, one in three people typically don't make a purchase at a music festival because they don't have the cash. 50% of Americans typically carry less than $20 on them at any given time, and the last thing someone who spent good money to be at a music festival for the day wants to do is wait in long lines for ATMs, only to do so again for food or drinks.
To combat these cash problems, PayPal has stepped up their mobile game, hoping to use music festivals as a way to encourage people to download and experience their app, many for the first time. The company spent a lot of money and went out of their way to incentivize people to download the app and try it. While they wouldn't share a figure on how much they spent on all their summertime festival programs, a quick look at what they did multiplied by the number of concert-goers and vendors shows they are serious about moving into the mobile world.
The financial institution outfitted vendors with special POS systems programmed to specifically work with the PayPal mobile app. While in line, you can check into the vendor (the entire system is location-based). When you arrive at the front of the line, you order what you want, telling the cashier you're paying with PayPal. They then find you (your photo and name pop up, along with others currently using the app nearby) and send you a charge, which you accept and the transaction is done.
On top of that, at each of the major festivals where PayPal had a presence, there were special deals to encourage people to sign up and use the app. For example, at the NYC-based Governor's Ball (where I personally experienced the PayPal app), the company encouraged users to try every food vendor on the grounds, offering $5.00 off every first time purchase. In addition, at Outside Lands this weekend in San Francisco, there will be a similar discount on food, as well as a GIF photobooth, a PayPal-branded convenience store, and places to charge dying cell phones.
Like anything in its beginning stages, mobile payments are not without their glitches, especially at crowded music festivals. These events are notorious for their terrible cell service, and though many of them partner with service providers in an attempt to rectify this, I have yet to experience a festival where my phone was truly usable. This is especially problematic when you're trying to pay for something with your smartphone. Though I was told PayPal worked to increase service around vendors, many people (including myself) were unable to use the app at times of heavy traffic.
While the experience wasn't perfect, this summer's festival push was a valiant first try, and PayPal is absolutely headed in the right direction with mobile payments. People are so used to cash and cards, it may take some time before they're ready to completely leave their wallet at home, but make no mistake-there will come a time when we all laugh about how awkward our wallets were and we regret all those ATM fees.
The New Music Festival Luxury? Glo Sticks Included Entities 0 Name: PayPal Count: 7 1 Name: San Francisco Count: 1 2 Name: Hugh McIntyre Count: 1 3 Name: New Music Festival Luxury Count: 1 Related 0 Url: http://ift.tt/1skkMHi Title: Squamish festival goes fully cashless for the first time - Event Industry News Description: Virgin Mobile Presents Squamish Valley Music Festival is excited to announce that its festival site will be going fully cashless for the first time, working in partnership with Canadian access control and cashless payment specialists, Intellitix. Produced by Live Nation Canada in partnership with Festival creators brand.LIVE Management Group, Virgin Mobile Presents Squamish Valley Music ...
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