Identive payment solution used at music festivals and stadiums – good news after NASDAQ warning.

Identive Group, Inc., a provider of products and services for the identification, security and RFID industries  say that use of its cashless payment system for concessions has expanded this summer to music festivals in Europe and to the Rat Verlegh Stadium in Breda, The Netherlands. This implementation follows Identive’s launch of tomPAY™ contactless payment technology at large hospitality events during the 2012 London Olympics.

Identive offers its concession-focused cashless payment system through its payment solution subsidiary, which provides RFID-based contactless cards and readers, software, equipment, installation management and transaction services that enable visitors to experience short wait times for purchases at concerts and sporting events across Europe.

Rat Verlegh Stadium in Breda is home to the Dutch first league soccer club, NAC Breda, and implemented Identive’s cashless payment solution in order to speed payment transactions for visitors at the 19,000-capacity venue. This is the 14th stadium to use Identive’s card-based cashless payment solution and the first in Holland.

The cashless payment system is sized to include 60 cash registers and 16 handheld terminals and will run on payment solution’s transaction management software. In order to make each transaction as swift and efficient as possible, drinks or snacks can only be purchased using Identive’s contactless cash cards. Visitors can purchase or top up cards with cash value at various stations within the stadium. The new cashless payment system was introduced to soccer fans during NAC Breda’s first home match of the season against FC Twente Enschede on August 18, 2012.

“Rat Verlegh Stadium decided to replace its coin-based processes with our cashless system in order to improve the overall experience for soccer fans and concert visitors while at the same time increasing concession volume and revenue,” said Sascha Busse of payment solution. “We are pleased to expand our innovative payment system to The Netherlands with our new stadium deployment in Breda, and to gain a foothold in the emerging festival market.” 

Payment solution also provided cashless payment systems for visitors at three popular music festivals in Europe this summer, which allowed guests to purchase food, drinks and festival merchandise using wristbands equipped with RFID chips. The wristbands also acted as return access passes, allowing visitors to enjoy the festivals for multiple days without having to wait in entry lines. Festivals using the cashless payment system included Openair St. Gallen, held June 28 – July 1 in St. Gallen, Switzerland; Gurtenfestival, held July 12 – 15 in Bern, Switzerland; and Slottsfjell, held July 19 – 22 in Tønsberg, Norway.

“ Summer music festivals are growing all over Europe. We view our solutions as offering real convenience to consumers, using their entry bracelets to buy food and drinks and the merchants love it as it speeds up trade, solves security and fraud problems associated with cash handling”, said Ayman S. Ashour CEO and chairman of Identive Group.

 These developments must be good news for Identive who last Friday announced that it had received notice from The NASDAQ Stock Market that the bid price of its common stock has closed below $1.00 for the last 30 consecutive business days and was therefore not in compliance with the minimum bid price requirement for continued inclusion on The NASDAQ Global Market. Identive reported that the notification letter had no immediate effect on the listing of the Company’s shares on The NASDAQ Global Market. Under NASDAQ rules, the Company has a period of 180 calendar days to regain compliance.To regain compliance with the minimum bid price requirement, the bid price of Identive common stock must close at $1.00 per share or more for a minimum of 10 consecutive business days during the 180-day grace period. The Company says they are not considering a reverse split of its stock and expects to regain compliance with the minimum bid requirement within the 180-day period.

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Categories: Contactless Payments, Contactless Technology

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