What do Sporting Events & The Payments Industry Have in Common?

At sporting events, we generally observe the crowds, that things are unmanageable and people are in a hurry. This is a perfect opportunity for seamless payments experiences, and contactless payments can help a lot in such situations. What if, instead of lining up at ticket booths, spectators could simply pass through NFC terminal stations, paying on-the-go with their smartband or mobile payment app on their NFC smartphone or NFC based contactless payment cards.

A notable example worth mentioning here is that of the London Olympics. Visa had deployed its NFC payment system Paywave across various venues. Over 2000 systems were installed at the Olympic Park and 1000 more around the city. Back then, Visa had clearly demonstrated how NFC payment systems can be fast and convenient and simultaneously maintain optimum security levels.

The use case of Walt Disney parks is also an ideal example where people can just have fun without having to think about paying for rides round the park. Disney provides NFC bands to visitors at the park and these bands automatically complete the required ticketing transactions as they come within proximity of NFC stations placed throughout the parks.

Given these benefits that next-gen payment systems can bring to sporting events, companies are now focusing their solutions towards payments and commerce experiences at venues. For example, MasterCard is bringing contactless acceptance to all bars and concession stands at several stadiums ahead of Rugby World Cup 2015. Through a partnership with Worldpay and the Rugby Football Union, Twickenham is now ready to accept contactless at all payment points, in time for the RBS Six-Nations tournament that started this month and also the Rugby World Cup in September and October.

With this rising trend, contactless payments can provide a big added value to upcoming major sporting events. How about we make payments at the upcoming Boston Olympics, scheduled for 2024, both paperless and contactless? The use cases above clearly show that this is indeed possible and new innovative payment systems, especially those over the next 10 years, clearly possess the potential for this and much more. So watch out for updates on this from LTP as we get closer!