Tuesday , August 16, 2022

UBS Arena Is the Latest Professional Sports Stadium to Go Cashless

The move toward cashless sports stadiums continues to accelerate. UBS Arena, home of the National Hockey League’s New York Islanders, has contracted with Fiserv Inc. to install Clover point-of-sale hardware and Bypass point-of-sale software to enable digital and contactless payment options throughout the venue. 

UBS Arena will deploy more than 350 Clover devices to enable contactless purchases at concession queues. With the implementation of Clover terminals, UBS Arena will be fully cashless. The arena, which opened in November on Long Island, has two reverse ATMs that accept cash and dispense prepaid cards, but the venue still accepts cash at the box office. 

Offering contactless payments shaves up to 50% off transaction times versus cash transactions, which is expected to shorten wait times at concession stands.

“As consumers embrace digital engagement, sporting and event venue operators have a timely opportunity to build better experiences for fans while streamlining their own operations,” Geoff Johnson, general manager of Bypass at Fiserv says in a prepared statement. “With new digital and self-serve ordering and payment options, Islander fans at UBS Arena will enjoy more time watching the action on the ice.”

The move toward cashless stadiums has accelerated during the Covid-19 pandemic as many sports venues that were closed to fans during the various 2020 sports seasons used that period to rethink how they can improve the fan experience, of which payments is a large part. 

Helping fuel the decision to move toward cashless POS technology is that the technology now has a proven track record, which alleviates any hesitancy sports venues may have about implementing it, Johnson says. In addition, consumers attending events at cashless stadiums are embracing the technology, according to stadium operators.

Fiserv has outfitted other sports venues with cashless POS technology, including Fiserv arena, home of the National Basketball Association’s Milwaukee Bucks, and Subaru Park, home of major league soccer’s Philadelphia Union.

Other processors outfitting sports stadiums for cashless payments include Shift4 Payments Inc., which in March paid $72 million to acquire VenueNext, a provider of cashless POS technology for sports venues, and Appetize Technologies Inc., which provides cashless POS technology to Major League Baseball, minor league baseball, and professional soccer teams. Appetize was acquired in September by Spot Transact LLC.

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