The National Football League and Visa (NYSE: V) today announced an agreement to provide 100% cashless payouts to fans throughout the Super Bowl LV stadium at Raymond James Stadium on February 7, 2021, in Tampa, Florida. This will be the first time that the event will be entirely cashless.
The stadium will only be 20% full due to coronavirus restrictions, but the NFL’s deal with Visa, its official payments services technology partner, calls for everything (parking, concessions, souvenirs, food , etc.) or cashless. The Super Bowl experience, a week-long event leading up to the Super Bowl, will also be cashless.
For the Super Bowl, the league will set up ATMs in the stadium that dispense Visa-branded prepaid cards for up to $ 500 that can be used in the stadium or outside.
“Teaming up with the NFL to now make fully digital Super Bowl payments not only achieves a primary goal of our partnership, but also transforms the future of sporting events,” said Mary Ann Reilly, Chief Marketing Officer North American at Visa. “Visa will continue to lead the digital transformation of points of sale in stadiums nationwide, as the conversion to digital contactless payments is no longer a luxury, but a necessity for fans and dealers alike.”
Visa has already worked with six stadiums to improve their point-of-sale infrastructure to accept contactless payments. The NFL reports that more than 20 stadiums are either cashless or in that direction.
Along with the announcement, the company released a guide to help sites prepare for reopening with “digital operations first”.
Visa described four major benefits of cashless: customer and supplier security, additional revenue as fans typically spend 25% more per cashless transaction, operational efficiency, data, and loyalty.