Festival finance company Moneycomb is the first in the events industry to stop offering plastic coins as a means of payment. The Dutch company now only supplies digital payment solutions for reasons of efficiency, sustainability and hygiene. Although this will result in the loss of around 20 percent of their turnover, the company believes that plastic coins are ‘really outdated’. Moneycomb is kicking off this short event season with the European Hockey Championships. Last Sunday was the last day of this national event, which was completely cashless and where the women and men of the Dutch team became European champions.
Moneycomb has been supporting festivals and events for several years as a financial partner with the payment of, among other things, refreshments. From local events to the TT-Assen, Het Amsterdams Verbond and De Libelle Zomerweek.
Efficiency
However, many events still work with plastic tokens. Research into events with and without tokens clearly shows the advantages of digital payment. For example, people who pay contactless order more often and continue to order until later in the event. Michael van Elswijk, one of the partners of Moneycomb: “Consumers pay for what they eat and drink and therefore never come home with unused tokens. This makes the system very transparent and fair for both our customers and the consumers. No tokens also has the advantage that the costs for the event organizer can be reduced, because less hardware, transport and staff are needed. There is better control over stock versus actual sales.
Sustainability
Moneycomb also makes the decision to stop using plastic tokens for sustainability reasons. “Large festivals order up to 1.5 million plastic tokens per event. Every time,” says Guido van den Berk, also a partner of Moneycomb. “We want to contribute to a better future. After a global pandemic, continuing with the old-fashioned plastic coins really feels like a step backwards and outdated.”
Plastic coin hygiene
Hygiene is also a reason for choosing contactless payment. Research from the University of Arizona shows that bacteria can survive for up to 48 hours on keyboards and computer mice, which contain more bacteria than the average toilet seat at home. “Every day, we hold our mobile phones for hours. During events, visitors then hold the coins they use to pay,” Van den Berk explains. “By opting for contactless payment only, we also want to contribute to the safety and health of visitors.”