Do you have change for a 20? Or a 10? Your answer to this question may be different today than it was five years ago.

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THE INCONVENIENCE
OF CASH
& its Effect on the Event Industry

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Introduction:
Do you have change for a 20? Or a 10? Your answer to this question may
be different today than it was five years ago.
The world is evolving at an increasingly fast pace and new technologies are
providing convenient alternatives for payment methods. With all these
changes, cash is becoming an obsolete medium of exchange. This affects
how people behave in their day-to-day lives and will surely affect how event
organizers run their events.

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Data:
Want some proof? Almost 80% of Americans carry less than $50 in their wallets
and 40% carry less than $20! Even more surprising is that 9% do not carry any
cash at all (see diagram below). In a world of ever-changing technological
advances, people are becoming more inclined to use credit/debit cards (or even
their phones!) to pay for anything big or small, including event tickets.

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1. Why are people less reliant on cash?
Here are the most plausible explanations that are contributing to this shift from
paper to plastic:
• Cash purchases aren’t as easy to track as credit or debit purchases
(read: it’s harder to stay on budget with cash).
• Some people don’t feel comfortable carrying large amounts of cash on
them at one time (whether it be for safety reasons or because they are
scared they may lose their wallet, etc.).
• The electronic and technology industries are shifting people away from
cash. You can now pay for your latte with your smart phone!
• There is less liability for lost/stolen money- if you lose a 20 from your
wallet, that’s it. But if someone charges the same amount to your credit
card fraudulently, you will probably not have to pay for it.
• It is inconvenient to carry a wad of bills when you can simply carry around
a few cards and your phone.

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2. So what does this means for event organizers?
If you’re hosting an event, avoid cash payments with the following tips:
Before the event:
• Sell tickets online! E-ticketing is becoming the most efficient and preferable
method for both event organizers and attendees. Event go-ers benefit from the
convenience of being able to purchase tickets from their computer or any smart
device with a credit card, and the organizers benefit from knowing exactly how
many guests to expect. Attendees receive their ticket via email and don’t have to
worry about bringing cash to the event to pay for admission- plus this ensures a
faster line entry at the door!

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2. So what does this means for event organizers?
At the event:
• Allow credit card and electronic payments on-site. Although you may have sold
tickets in advance, some attendees will still want to purchase tickets at-the-door
of the event. Dealing with cash ticket sales can easily slow down a line-up and
cause frustration for guests. Allowing guests to pay by credit card can effectively
solve this problem and get your guests into the event faster. Not to mention, you
won’t have to worry about an overflowing cash box that must be monitored
carefully throughout the event! All transactions will be safe in cyber space until
payout.
• With today’s technology, there are alternatives that enable event organizers to
process payments via credit card on-site, from any smart phone or tablet. Various
online ticketing services will offer card readers that plug into phones and tablets
and sync with an easy-to-use app! Check out Uniiverse’s Ticket Manager App
that not only lets you check in guest who pre-bought tickets, but also helps you
sell more tickets at the door via **credit card**.

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Good luck with your event!
Event organizers: don’t be caught without
a credit card reader at your next event!
However, if you do decide to give your
guests the option to pay with cash, make
sure you bring enough change in your
cash box.
Now that you are armed with these tips,
your event will be more enjoyable (and
more convenient) for everyone! Good luck!

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