11 nov 2024
Choosing the right cashless payment system: Card vs. QR codes vs. Tactile
The best choice depends on the scale and objective of the event. Tokens are simple and familiar, while a closed-loop cashless payment system is more efficient and provides more data insights. If you want to professionalize and organize with the future in mind, closed-loop cashless is usually the smartest choice.
Tokens
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Simple and quick to deploy
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Familiar to visitors
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Suitable for smaller events
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Less insight into payment data
Closed-loop cashless
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Digital payments via app or wristband
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Real-time insight into revenue and behavior
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Fewer logistical operations
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More efficient and scalable
Table of Contents
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#1: Payment speed at a bar setting
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#2: Reliability
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#3: Sustainability
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#5: Supported payment methods
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Conclusion
From the supermarket to the festival site, cashless payment is the new norm in the digital age. As an organizer you want a system that is safe, easy and efficient. Pin systems, QR codes or wristbands with chips such as the Tactile system are all options. Each has its pros and cons and we're going to look at them all, with a special focus on the Tactile payment system. Read on to discover which cashless payment system best suits your event.
QR codes: The popularity of this payment system increased significantly during the COVID-19 pandemic, especially in catering establishments. The working method is simple: visitors scan a QR code, enter their order on an online platform and pay via iDeal or credit card. They can then pick up their order using an order number, or if they are served at the table, the order will be brought to them.
Pin payments:The PIN payment system is so well established that it does not require an extensive introduction. It is a system we use every day for a wide range of transactions. The arrival of Apple Pay in 2019 and Google Pay in 2020 has made it even easier to make contactless payments, making the user experience smoother and more convenient. A notable change that took place during the COVID-19 pandemic was the temporary increase of the limit for contactless payments without a PIN code from 25 to 50 euros. Although there were original plans to lower this limit after the crisis, this change has significantly increased the flexibility and convenience of debit card payments.
Tactile payment system: This system uses a card or wristband with an NFC chip. Visitors deposit money into their account prior to the event. The bar staff are equipped with a Tactile cash register and visitors simply pay by scanning their wristband at a Tactile payment terminal. This makes the event run smoothly and worry-free. Another plus is that unused credit is automatically refunded at the end of the event.
#1: Payment speed in a bar setting
QR-code
Transactions per min
1/6
Pin
Transactions per min​
3/6
Tactile
Transactions per min
+6
When assessing the efficiency of a payment system, the speed at which transactions are processed is a crucial factor, especially in a busy bar situation. Can be in a setting with table serviceQR codes certainly have advantages. They offer faster service than traditional payment methods because customers do not have to wait for a waiter. However, in the context of a busy bar, implementing QR codes can be less efficient. The lack of clarity about whose turn it is can lead to confusion and delays.
#2: Reliability
Reliability is another important factor when evaluating a cashless payment system. Each of these systems has its own requirements regarding connectivity.
QR-code
Internet connection required for visitors as an organization
2/5
Pin
Internet connection required for organization
​
3/5
Tactile
Always remains online, even in the event of a temporary power or internet failure.
5/5
To start with itQR code system: Both the customer and the bar need a working internet connection. So it depends on the visitor to have and use a smartphone with internet access. This can be a challenge for some visitors, especially if they have run out of data or their phone battery is dead.
#3: Sustainability
QR-code
No impact
​
5/5
Pin
No impact
​
5/5
Tactile
Sustainable straps & recyclable chips
4/5
Sustainability is a crucial topic, also within the events industry. BothQR codes asdebit card payments in principle add no additional impact to the environment - they use existing smartphones and PIN devices. Although the payment system only accounts for a small part of the total environmental impact of an event, it is still an aspect that deserves attention.
#4: Transaction fees
QR-code
Cost per transaction
​
3/5
Pin
Cost per transaction
​
3/5
Tactile
Costs only when topping up
5/5
When it comes to transaction costs, there are important differences between the systems. With both card and QR code payments, transaction fees are charged for each individual order. These costs, although often small, can add up quickly when there is a high volume of transactions — something that is very common at events.
Tactile on the other hand, uses a different model: transaction costs are charged when topping up the NFC chip on the card or wristband. This means that the transaction costs for the organizer are significantly limited, regardless of the number of purchases the visitor makes during the event. In addition, at Tactile we encourage visitors to top up a significant amount. Visitors are usually willing to do this, knowing that the unused balance will be automatically refunded after the event. An additional advantage is that visitors with a high balance are often inclined to spend more. All in all, this can result in significant cost savings and potentially higher revenues, especially at events with a large number of visitors.
#5: Supported payment methods
QR-code
All
5/5
Pin
Limited
3/5
Tactile
All
5/5
When choosing a cashless payment system, flexibility in the supported payment methods also plays an important role.PIN terminals are in theory able to accept both Dutch debit cards and international credit cards, but the options are quite limited.
Conclusion
Cashless payment systems are becoming increasingly popular among event organizers. Each system - Pin, QR codes or Tactile - has its own advantages and challenges. Debit card payments are known and trusted, but transaction speed and reliability could be improved. QR codes offer extensive flexibility, but their efficiency can be reduced in a busy bar setting. The Tactile system excels in transaction speed and reliability and also offers options for minimizing transaction costs and supporting a wide range of payment methods.
