10 myths about cashless

Setting the record straight.


Myth – It’s intrusive for the Customer

Reality – Cashless offers far greater customer convenience, removing the need to bring and carry cash or queue at expensive ATM’s, as well as providing loads of other benefits such as a record of all purchases and incentives/rewards.

Myth – RFID is not a secure payment method

Reality – Hero Ticket’ system uses military-grade encryption, making it more secure than online banking and other identification technologies like magnet stripes or contactless credit/debit cards. There is no risk of money or data theft from the system and, if you lose your wristband, you have not lost your money – it can be instantly transferred to a new wristband. 

Myth – It relies on a continuous internet signal

Reality – Hero Ticket’ system works offline meaning that people can spend and top-up continuously in the absence of an internet connection. It’s recommended to have some degree of connectivity, if possible, as that enables some of the enhanced features including the real-time reporting. 

Myth – Credit/Debit card payments are cheaper to implement and provide the same benefits

Reality – Credit/Debit card payments require an internet connection for every single transaction which requires significant infrastructure. Furthermore, they take control and ownership of the money (and customer) away from the event to a third-party banking institution who will also charge the event a fee for every transaction. 

Myth – RFID is really about tracking people

Reality – Cashless does not work for Big Brother. No customer data is shared without their express permission and Hero Ticket’ system allows people to use it anonymously. Mobile phone providers, credit card issuers and CCTV (increasingly with facial recognition) are much more effective at tracking people at live events (and in daily life) than RFID Cashless systems will ever be. 

Myth – It’s about making money from people’s unspent funds

Reality – Whilst this has, sadly, been a reality associated with token systems used at events in the past, the emergence of RFID has actually put an end to this practice. This is because the benefits are greatest when people can quickly and easily get refunds, and feel good about using the system. The customer experience is at the heart of RFID cashless, as it should be. 

Myth – RFID is an outmoded technology (the future is mobile)

Reality – Whilst mobile payments will undoubtedly proliferate in daily life, there are limitations to usage at events that will keep wristbands in circulation for a good while yet – such as signal, battery life, compatibility issues and risk of loss/theft. Furthermore, Hero Ticket’ system works with NFC chips in wristbands which is the same technology used in smartphones – the system can easily be adapted to work with mobile phones in future. 

Myth – It’s too expensive to implement

Reality – It’s been well-established by use at hundreds of events over the past few years that the benefits of Cashless significantly outweigh the costs. Hero Ticket can happily report that all of our Cashless event customers have retained our system year-on-year. 

Myth – My audience is not ready/ not suitable

Reality – Events of all shapes, sizes, musical persuasions and audience demographics across the world are enjoying the benefits of Cashless. 

Myth – My traders will hate it

Reality – Whilst some traders enjoy a degree of invisibility to the tax authorities that cash facilitates, this is a diminishing breed. The increasing amount of more professional operators will be highly appreciative of the benefits that Cashless provides, in particular the elimination of all costs, hassles and risks associated with cash management. It will make their lives a lot easier and should increase their takings, by making it easier for people to purchase.