Lollapalooza Introduces Cashless, Wearable Pay System

Published 08/08 2014 07:45PM

Updated 08/08 2014 07:49PM

Item: To help people keep better track of their funds and hasten the process of buying goods, this year Lollapalooza introduced Lolla Cashless for its attendees. It’s program that allows attendees to pay for things at the festival by tapping their RFID-equipped wristbands, pre-synched with their credit card information. All they have to do is tap and type in a PIN number. The colorful wristbands can also have emergency contact information stored on them. They are waterproof and fit the need for hands-free, carry-free convenience of a live event. They are also pioneering the way towards a cashless, connected system for large scale events—making those events easier, and potentially safer, to navigate.

Why it Matters: The constant fear of losing your wallet (or someone stealing it) has been a key decision make-or-break point for many when it comes to large, live events. As we continue to move into a cashless society, companies are looking for ways to alleviate pain points such as fear of theft or of overspending. This has the potential to make events safer, and also lets you set budget parameters the same way prepaid cards do now—minus the fear of losing them.

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