DURBAN - At present, digital contactless payments and other innovative smartphone-based solutions are paving the way for faster payments and therefore shorter queues, as well as an overall better stadium experience.
How electronic payments are hitting a home run today
The last few years have witnessed dramatic changes in the payment industry with the rise of digital payments. These changes are going to accelerate as more people around the world use contactless cards and smartphones to pay each day. Merchants, in stadiums and elsewhere, can now accept payments in a multitude of ways, including scanning a QR code, contactless cards, wearables, and digital wallets.
An analysis of spending inside the 2018 FIFA World Cup Russia stadiums from the opening match on June 14 through the semi-finals on July 11 shows the increased consumer adoption of innovative payment technology. Half of purchases with Visa in tournament venues utilized contactless transactions, including cards, mobile devices and wearables. In today’s world software and services turn almost any locale or any device into a potential POS and the era of single-purpose transaction terminals is coming to a close.
This is part of one of the major trends identified by Visa in the sector as “everything as a point-of-sale (POS)”.This also presents new opportunities to displace cash while building relationships and rewarding customer loyalty.