Comparing payment methods for events
In this post we're comparing different payment methods for events like concerts, festivals, night clubs and more. We look at their benefits and drawbacks in several categories. We look at how familiar these methods are to the public, how much data you can gather from them, and other categories.
In particular, the "Cost of Implementation" category, measures the cost implications of deploying each payment system. The cost of implementing traditional tokens and cashless mobile is rated as low, but the traditional tokens require support from another method, while card payments and cash have medium costs due to the need for change and transaction management fees. The highest cost of implementation is associated with the use of wristbands.
The third category, "Security" is also especially relevant for these kinds of events. It measures the resistance to fraud and the traceability of transactions. Card payments have medium security while the other methods have low security, with the exception of cashless mobile and wristbands which have high security.
The table also mentions other benefits and drawbacks of each method, such as the availability of offline functionality, the possibility of automatic stock management and accounting, or the time it takes for funds to become available to the organization varies depending on the payment method, with cash being the quickest, and online payment systems taking the longest.
| Método | Efectivo | Tarjetas de crédito / débito | Tokens tradicionales | Cashless móvil | Pulseras |
|---|---|---|---|---|---|
|
Familiaridad del público
Cómo de habituado está el público a utilizar este método de pago |
Muy alta | Muy alta | Alta | Alta | Alta |
|
Coste de implementación
Qué implicaciones tiene desplegar este sistema |
Medio Necesidad de cambio y comisiones por gestión de efectivo | Medio Contratación y alquiler de TPVs | Depende del coste de implementación del método que lo respalde | Bajo Alquiler de PDAs para leer códigos QR. | Alto Alquiler de PDAs para cobro con pulsera y tótems y personal dedicado para facilitar la recarga en el festival. |
|
Seguridad
Resistencia a fraude y trazabilidad de las transacciones |
Baja Errores al cobrar y sustracción de las cajas | Media Errores al cobrar, cargos duplicados | Baja Errores al cobrar, pérdida de tokens afecta a la contabilidad | Alto Todo queda registrado al detalle | Alto Registros de recargas y cobros, pero el contenido de las transacciones no se registra automáticamente |
|
AnalÃticas de stock
Datos precisos sobre los productos que más se consumen y cuando |
No | No | No | SÃ | Depende Solo disponible si el personal introduce los pedidos correctamente al hacer el cobro. |
|
Contabilidad automática
Gestión de la facturación para obtener informes de ganancias y preparar las declaraciones de impuestos |
No | No | No | SÃ | Depende Solo disponible si el personal introduce los pedidos correctamente al hacer el cobro. |
|
Funcionamiento offline
Grado en el que el sistema puede funcionar si no hay conectividad |
Sà | No | Depende Solo disponible si el método de pago que lo soporta funciona sin conexión. | No | Sà |
|
Gestión de remanentes
Necesidad de gestionar el saldo adquirido y no utilizado por los asistentes |
No | No | SÃ | No | SÃ |
|
Preventa
Posibilidad de realizar preventa para adelantar fondos antes del festival |
No | No | No | SÃ | SÃ |
|
Disponibilidad de los fondos
Tiempo hasta que los fondos están a disposición de la organización |
0-2 dÃas El efectivo está disponibl inmediatamente pero será necesario ingresarlo para poder operar con él cómodamente. | >3 dÃas Tiempo medio que tardan las entidades bancarias en depositar los fondos de las transacciones con TPVs fÃsicos | Depende Disponibilidad sujeta al método de pago subyacente | >3 dÃas Tiempo medio que tardan los sistemas de pago online en depositar los fondos en la cuenta del proveedor. | >3 dÃas Depende del acuerdo con proveedor. Tiempo medio que tardan los sistemas de pago online en depositar los fondos en la cuenta del proveedor. |
|
Hardware especializado
Necesidad de adquirir o alquilar hardware especializado |
No | SÃ | No | No | SÃ |
Are you looking to implement one of these payment methods in your event or venue? At FesteaPay we have multiple mobile payments solutions specifically tailored to clubs, festivals, concert promoters, food markets and many more! Do contact us and we'll make sure to help you make your go as smoothly as possible.
Do you have thousands of fans that will only be at your venue for a few hours? Do you want them to enjoy the music without waiting in endless lines?
Festea integrates without the need to purchase hardware and is the favorite payment method of your attendees.
¿Do you really want your guests to wait in 3 separated lines to order from different food stands? ¿Or would you rather have them wait comfortably while their order is being prepared?.
With Festea Pay your guests make their orders to all food stands through their phone at the same time, and then receive a notification when each of the orders is ready. Take your guests experience to the next level!.
Festea implements a cashless system with mobile payments without the need for distributing RFID wristbands, installing recharge points or processing refunds for unused wallets.
Also, you'll get access to a real time communications channel with attendees to launch personalized offers.
¿Want to eliminate hoards of people to order during half-time? Allow your customers to order with their phone and utilize catering during 100% of the match time.
Notify your customers when their order is ready to be picked up or deliver it to their seats for a premium experience.
Digitize the bar service and forget about spreadsheets to manage stock.
Make the jump to mobile payments and validate your intuitions with analytics and reports about customer spending patterns to increase revenue.
Unify the payment method and billing data collection across all your venues in a single interface.
Understand your customers' spending patterns and get a prediction for the required staff and stock.