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Tappit, a global payment ecosystem for events, venues and sports stadia has launched a new fund to support the festival sector.

Festival organisers from across UK, mainland Europe, the Middle East and North America can apply for a grant from the £100,000 fund via Tappit’s website until 23.59 on 29 November 2019.

Those who are successful will receive funds and access to Tappit’s technology to help empower organisers, support the sustainability, and improve fan experience.

Any festival can apply, but those who apply should have a clear plan, be open to using cashless technologies and be want to improve their fans’ experience.

The fund marks the first fund that Tappit has launched, but the company plans to continue it into 2021, pending its success to further sustain and support festivals.

CEO of Tappit, Jason Thomas, said: “It can take some festivals up to five years to see a profit and many don’t make it this far. At the same time though, grassroots festivals are the lifeblood of the festival ecosystem. They help create the stars of the future and provide much-needed diversification across the live music and arts industry, and the Tappit Festival Fund is our way of championing their cause and purpose.

“There is huge potential for festivals to succeed if they understand what their fans need, know how to maximise the customer experience as well as keeping an eye on the bottom line and we want to help festivals better understand these things through this fund and our technology. As a business heavily involved in the festival space, it’s important that we do what we can to make the industry thrive and ensure the sustainability and future of these important events.”

For its festival and event clients, Tappit gives organisers and promoters an end-to-end solution that includes ticket scanning and integration, cashless payment, white-label payment apps, RFID, voucher mechanics and event analytics.

These features enhance live event experiences by providing organisers with customer insights and data that are unavailable through other payment methods, which organisers are then able to use to improve customer experience as they understand fan behaviours. Organisers are also able to increase profitability through faster transactions, which reduce the risk of theft and operational savings.

The company has recently added new safety features, for example safety wristbands that securely store attendees’ emergency contact details. If a guest requires help, first aid or other emergency assistance organisers can scan the wristband to see the contact information for their parent, guardian or friend. Its new Yellow Card system also helps keep fans safe, allowing event and bar staff to restrict alcohol purchases across the festival site for attendees who are underage, or may be drinking to unsafe levels.