Festivals seem the prime location to experiment with contactless payments. During these events, attendees want nothing more than to complete purchased quickly and in a convenient manner. FestiPay is a startup bringing cashless payments to five festivals in Romania later this year.
Cashless Payments Make Sense For Festivals
There is an argument to be made for embracing cashless payments during festivals. With so many people attending from various countries, the last thing anybody wants to be concerned with is using foreign currency. Moreover, cash payments are quite annoying during festivals, as it is hard to keep on one’s body, and just horrible to deal with.
FestiPay seems to be thinking along those same lines, as the company will bring cashless payments to five festival taking place in Romania throughout 2016. It is interesting to note the first event was the first Bucharest Gourmet gastro festival. It looks like cashless payments are taking off in Romania, as far as festivals are concerned at least.
That being said, the company has seen its fair share of success throughout Europe since 2015. After being made available to the public during the 2015 Untold festival, other organizers saw the advantages of exploring cashless payments. Quintupling one’s business in the country in less than 12 months is quite a significant growth for any startup.
“We are really glad to expand the co-operation with the Romanian partners. Last year’s successful debut on the Romanian market made it clear for both the organizers and the festival goers that cashless payment is beneficial for everyone. At events that attract its audience from the entirety of Europe, the possibility of fast transactions is really valuable: a cash payment takes 20-25 seconds, while processing a contactless transaction only takes 3-5 seconds.”
A similar trend can be noted across other events throughout Europe as well. Tomorrowland, Europe’s leading dance event taking place in Belgium every year, introduced cashless payments by wristband last year. This change was well received by festival goers, as it makes life a lot more convenient for them.
If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.