Lollapalooza introduces tap and pay wristbands, creates cashless experience
Lollapalooza is introducing Lolla Cashless, the first effort from a US music festival to use radio frequency identification (RFID) wristbands to collect payments. In the weeks leading up to the event, the Chicago based festival will send attendees wristbands which they can link to a credit/debit card and use to purchase food and beverages. Once your wristband is enabled online, you can freely link your payment card and all restaurant and drink vendors will have point-of-sale systems set up so that users can tap their bracelets on a technology-enabled pad and enter in a pin code to complete the transaction. The wristbands will also work offline due to poor internet connections at major festivals, the point-of-sale systems will store transactions and process them at a later time when/if the internet cuts out. The introduction of this new technology could change the game of how companies use mobile payments as many major franchise restaurants brands are betting on this to become the new way of completing a transaction.
Expect sales to go through the roof at Lollapalooza, when there isn’t an exchange of bills people tend to go a little crazy with their spending.
Via: Billboard Biz