"The right solution can give powerful data and insights about attendees and it can drive operational efficiency, improve and personalise the consumer experience and increase customer spending."
Tappit CEO and Music Lover from Northern England, Jason Thomas, has taken his passion for entertainment to the fintech industry and made a name for himself among his peers. Tappit is a global payments solutions firm that uses data analytics to provide cashless payment options for clients such as the NFL, MLB, and MBA (just to name a few).
What sets them apart from the competition (besides their client list)? Tappit provides micro-level data analytics to all of its clients so they may find important and influential purchase patterns that help them develop a marketing strategy based on personal metrics rather than generic offers.
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To start off, let’s learn a little about what Tappit is and what your role has been from the beginning.
Jason Thomas: Tappit is a global payment and data ecosystem for sports, universities, events, stadiums, and venues. Our solutions enhance live event experiences, providing cashless payment technology and data to the organisers, which in turn improves customer experience, reduces cost, and increases profitability.
I was appointed as Tappit CEO in 2018. Before taking on the role, I was part of the executive team at Ticketscript that brokered a multi-million dollar trade sale to San Francisco-based ticketing company Eventbrite. I specialise in business transformation and strategy implementation in disruptive technology, eCommerce, business intelligence, and data-driven industries.
I’ve bought my technology, digital, and ticketing experience to Tappit as we embark on a period of significant growth in international markets.
Where do you think the biggest impact is when going cashless?
Jason Thomas: Cashless combined with contactless, as we’ve seen lately, is a popular choice for keeping fans safe and minimising covid risk. But the right solution is key. There are various cashless solutions available and it’s important that an organisation considering going cashless look at all options, considering their existing tech infrastructure and the demographic of their customer base.
The right solution can give powerful data and insights about attendees and it can drive operational efficiency, improve and personalise the consumer experience and increase customer spending.
Most importantly, it gives organisers unprecedented access to every fan, whether they’re a first-time visitor or a dedicated supporter – including their spending and behaviours before, during, and after the event.
Is Tappit working on any new customizations or features for teams/event organizers to use in the future?
Jason Thomas: We’ve recently launched Tappit Insights, our next-generation business intelligence dashboard that gives our clients access to easy-to-use, actionable data and insights. Our data makes it easy to recognise the most valuable customers, pinpoint their favourite products, and track their average spend. You can leverage the data to offer targeted incentives and discounts on the things they like to buy.
Our team is growing quickly, and more dev talent means we are expanding our fintech features and functionality, continuing to add value to our valued partners.
How do you think this will impact the fan experience? Will it enhance it?
Jason Thomas: Going cashless and contactless enhances fan experience on a number of levels. On the most basic level, using a cashless solution means fans spend less time standing in line and more time enjoying the event. And they don’t need to worry about carrying cash.
But the real game-changer is being able to create a personalised fan experience and you need fan level data to do that. Once you know who is at your event, their likes and dislikes, and their spending habits, you can offer them a completely bespoke experience at every event with targeted rewards and personalised loyalty programmes.
What are the biggest key takeaways from industry trends and how do we move forward in a post-pandemic world?
Jason Thomas: Covid-19 has propelled consumers towards digital adoption and this trend is going to continue in the post-pandemic world. It’s predicted Sweden could become the first cashless society as soon as 2023, with the UK expected to be cashless by 2026. In 2021 only 19% of transactions in the US were cash transactions and cashless payment volumes are expected to further increase by 43% between now and 2025.
We’re going to see cashless solutions popping up in different sectors from retail and hospitality to casinos and theme parks.
What’s next for Tappit in 2022 and where do you expect to see the company in the next 5-10 years?
Jason Thomas: We will continue to work with an ever-increasing number of partners in other geographical areas (we have worked in 20 countries to date) and in sectors outside of what were our traditional verticals of sport and music. In 2021 we expanded into the college, retail, and theme park sectors and it’s clear that there is a huge demand in other areas of society that require a personalised, integrated, and frictionless experience.
What do you predict sports and live events will look like in 2022 and beyond?
Jason Thomas: More organisations will use data to personalise the fan experience, ensuring offers and incentives are based on past behaviour and not just some generic marketing offer.
Because of increased digitisation, there will be more integrated experiences and opportunities for fans to become interactive during the game, e.g. mobile ordering and delivery, fan interactions, incentives, gamification, betting, etc.
How effective are contactless payments in curbing the spread of COVID in sports arenas and events?
Jason Thomas: Cashless payments are paramount to maintaining a safe fan experience. Our technology is built to accept payment without a physical tap required and can work through screens. Did you know there are more than 700 types of different bacteria on an average banknote in the US?
Do you think going contactless will encourage fans to return to attending live games?
Jason Thomas: Absolutely – the demand for live events since lockdown has increased to unprecedented levels, but it is clear that fans and those working at events are still extremely mindful of covid related safety – so minimising queues and human contact is of paramount importance – two aspects that going cashless greatly reduces.
Jed Morley, VIP Contributor to ValiantCEO and the host of this interview would like to thank Jason Thomas for taking the time to do this interview and share his knowledge and experience with our readers.
If you would like to get in touch with Jason Thomas or his company, you can do it through his – Linkedin Page
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