News posted on: 2019/9/25 1:11:40 - by Blanche - RFIDtagworld XMINNOV RFID Tag Manufacturer
New York venues use RFID wristbands to increase sales by 40%
Mobile payment technology company Billfold POS has been providing RFID-based payment solutions for events throughout New York for many years. Currently, the company is expanding its business throughout North America. The company's RFID payment system consists of an RFID-enabled wristband and payment terminal. Click on the wristband to get the user's ID number and credit card access.
According to Stas Chijik, co-founder and CEO of Billfold POS, the system can reduce the typical credit card transaction time from 1 minute to less than 5 seconds for users wearing wristbands. Martin Nouton, head of food and beverage at Avant Gardner, one of Billfold POS's customers, said that they have been using the technology in three venues in Brooklyn, and their per capita beverage and food sales have grown by about 40%.
The RFID payment solution includes a self-service kiosk, a personal wristband that can be directly connected to a personal bank card or credit card, and a point-of-sale screen for customers and suppliers, so that transactions can be made quickly without cash or credit cards. It is reported that the RFID tag built into the wristband is provided by Australia's 4ID Solution Company.
Billfold POS was founded by the owner of One Stop Beer Shop, a mobile catering company that sells food and beverages at major events in New York. One Stop Beer Shop notes that credit card payments reduce service efficiency and result in revenue impact; if the active participant queues and waits too long, the source will be lost. So they started looking for solutions and found that RFID technology can speed up the payment process. Chijik pointed out: "A lot of time is not wasted in the payment process, but wasted on participants groping their wallets, taking out cash or credit cards."
According to Chijik, once the company builds an RFID solution and deploys it to the POS trading system, the per-capita spending of the event can increase by 45.2%. He said, "At that time we learned that this is not only good for us, but also beneficial to all event planners in the country." Billfold POS's focus is on venues and activities involving 5,000 to 10,000 people and has developed SaaS. Subscribe to the solution. Through this solution, the company can provide rental services for self-service terminals and POS readers, as well as software for cloud management data.
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