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newsroom Sports & Leisure

The digitisation of arenas and sports events

As lockdown restrictions begin to relax around the world, many stadiums are preparing to welcome sports teams and fans once again. From local stadiums to large arenas, everyone involved in the sports industry is doing what they can to keep their staff and guests safe, including embracing new digital technology. Stadiums are beginning to encourage, and in some cases even make it mandatory, for their patrons to use digital and contactless payment solutions where possible.

What are the benefits of cashless payments for a stadium?

• Reduced theft as visitors and sports players will not need to bring cash into the stadium.
• Helps reduce the possibility of spreading COVID-19 or another virus as contact is limited.
• Better visibility to track where and how people are using money in the stadium.

How are contactless and digital card payments changing sports stadiums?

Making service faster

In the Stadium of the Future report by Oracle, it was revealed that sports fans in Germany would be willing to spend 68% more on purchases if the wait time for food and beverages was reduced by half. Similarly, US fans claimed they would spend 66% more on food and drinks if the wait time was reduced, as would UK fans by 61%. This sends a clear message to stadium employees – fans are willing to spend more on food and drink if their time queuing, being served and waiting to receive their food and drink is reduced.

By making contactless payment mandatory, stadiums could significantly improve their speed at serving food and beverages as money will not need to be regularly counted, distributed or stored in a safe, which can be very time-consuming processes.

Increasing sales of high-priced items

The price of food, beverages and merchandise in a stadium can vary. More often than not, however, stadiums charge a premium for food and drink as they try to offer their sports fans a unique sporting experience that they cannot receive or replicate from their home, including enjoying indulgent food and drink. It can be hard, however, for a sports fan to hand over their hard-earned cash to pay for food and drinks. Some sports fans may even purposely limit the amount of money they take to a game to ensure they do not overspend.

Contactless payments help consumers see money and pricing as digital, and eliminates the process of handing over their money physically. This often encourages sports fans to buy more food and drink.

Cashless spending in your organisation

Going cashless doesn’t stop with your visitors and fans. Prepaid business cards from B4B Payments are the perfect way to adapt cashless spending to not only your arena, but your organisation as well. Stop your employees from using their personal funds to purchase goods and supplies, entertain partners, and travel. With a prepaid card you can see exactly where your money’s being spent as it’s happening, the ultimate risk management tool. No need worry about excess spending or potential fraud.

Control the parameters yourself using the B4B online admin platform and mobile app. By removing spend on personal cards, you’re in control. You decide how much employees can spend, and what they can use their expenses for.

Have temporary employees and volunteers?

Paying temp workers doesn’t need to be difficult. Using a flexible B4B prepaid card, save money on handling costs and fees associated with traditional payroll processes.

Our innovative method can be particularly useful for businesses with temporary or short-term staff so that you, as a business owner, can meet the demands of your changing workforce and not be held back by limited resources. Our cards can be used for GBP, EUR, and USD currencies to create a bespoke experience for you.

Did somebody say branding?

Choosing a B4B prepaid card gives you a unique opportunity to showcase your brand. A stunning design will help promote your brand and create a positive association with your company every time your cards are used. For a seamless user experience, we also create a cardholder platform and unique landing page featuring your brand.

If you’d like to learn about prepaid cards, contact B4B Payments today. We are an expert fintech company who specialise in providing payment solutions for the sports industry.

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newsroom Sports & Leisure

Sports after COVID-19

COVID has changed everything. The pandemic, which has swept the globe and affected nearly every country on all six continents, has caused cities to lockdown and normal activities to stop on a scale that has never been experienced before in living memory. However, there is light at the end of the tunnel – cities are now beginning to adapt to ‘the new normal’ and things are gradually opening up.

So, how does ‘the new normal’ affect sports? Competitive sports are loved by people all over the globe. In normal times, we flock to stadiums to watch our favourite football or rugby teams. But with some games being dubbed ‘super spreader events’, what is the answer for playing and watching sports during and after COVID?

Some competitive sports have already started to be played again, with strict testing and isolation procedures for the players. At the moment, no spectators are allowed in venues.

Undoubtedly, a lot will change. Social distancing will need to be undertaken by everybody involved in games for quite some time and this will cause a range of economic and social factors. Let’s look at some things that might change.

Virtual reality will become more common

Virtual Reality, or VR, helps people to see something as if it is actually taking place, and there will be a lot more of this as time goes on. Whether that be 360-degree photos on Facebook or fully immersive video, it will become much more normal to see games through this lens.

Journalism will focus on local sport

COVID is a time when everybody is looking inwards, focusing on their local area and what it has to offer. During the pandemic, it is harder for journalists to travel to report, meaning they may be more likely to focus on small, local teams rather than large-scale national reporting.

Athletes will seek independent forms of employment

It is projected that contracts for athletes will decrease, meaning that they will need to find other ways to fund themselves. They might become influencers, using their platforms to talk about certain topics and making money from sponsorships.

Coaches will become more tech-savvy

COVID is made much easier by technology – from the fact that we can pay using contactless cards to the ever-growing amount of TikToks to keep us amused – and coaches will undoubtedly become more tech-savvy throughout this crisis. During the pandemic, big decisions have been made over Zoom meetings, and with the pressing environmental crisis that will remain after the pandemic, this might be rolled out permanently.

Therefore, during and after COVID, coaches will likely rely on apps to communicate with their team members, draw up timetables and even train remotely.

School events will become important

Schools will need to adapt to playing sports safely, but they are likely to be children’s main involvement with the sporting world for some time. Sporting education in school will be crucial to the physical and mental health of students, as will education into different types of sports and advice on sporting careers.

Payments will change

Additionally, teams will have less funding and find themselves having to adapt in order to find the money to pay their staff. B4B offers safe, easy to use payment solutions for sports teams around the globe. Our contactless, prepaid business cards work anywhere where Mastercard® can be used, and can easily be topped up and utilised by players and organisation-staff alike.

Our prepaid card solutions are great for staff members earning anything from a few hundred to thousands of any currency a month, and they can be used to make payments across the globe. They are a fantastic way for any kind of sporting enterprise – from grassroots campaigns to full-scale sporting events – to organise their money better and reassure people of their job security during this difficult time.

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B4B provides payment support for ICC Cricket World Cup

On the 30th May to 14th July 2019, cricket fans around the globe had their eyes firmly fixed on Lord’s as the thrilling 2019 ICC Cricket World Cup took place. As the top ten cricket teams in the world came together to battle it out for the world cup title, B4B Payments offered their services to the cup’s hosts, the England and Wales Cricket Board (ECB), to provide elite payment solutions to the cricket teams, their management and key CWC staff.

B4B Payments’ prepaid business cards allowed teams from around the world to easily distribute funds to their players and staff. As B4B Payments’ prepaid business cards can be used anywhere in the world that accepts Mastercard payments, they can be monitored closely to ensure funds are being used in the correct way. This ensures corporate expense management is effortless and receipts can be managed through B4B Payments’ digital tools.

“I was very pleased with the solution B4B Payments provided to help support the players, officials and staff during the CWC19. The B4B team’s professionalism when rolling out the solution and the support provided to ensure the teams and officials could concentrate on their on-field performance, providing the best World Cup experience for the fans around the world.”

Sam de Terte, Financial Controller for the ECB

When trying to execute such a prestigious event, or travelling around the world to compete in a sports event, the last thing you want on your mind is obtaining, carrying and storing a large amount of cash. For the ECB and the teams taking part in the event, B4B Payments eliminated this problem with their prepaid business cards.

B4B Payments is privileged to work with many sporting events to provide payment solutions, for example, the 2015 Rugby World Cup. The Greater London Authority and B4B Payments also supported the 2017 IAAF World Championships in London.