Cashless payment provider tappit has signed a three-year cashless technology partnership with the Australian Formula One Grand Prix.
Under the deal, tappit will introduce its cashless solution to this month’s Formula One season opener at the Albert Park circuit in Melbourne.
Initially, tappit’s cashless technology will serve as the exclusive payment method at three bars located at different locations around the track.
The ‘Club 15 powered by tappit’ bar will be located at the penultimate corner of the track.
Tappit technology will also be used in bars at the Piquet Premium Grandstand and the Ricciardo Premium Grandstand.
After testing the prepaid, contactless wristband technology in these locations, the aim is to expand the service to the entire event in subsequent years.
The Australian Grand Prix attracts about 300,000 fans to the circuit over the four event days.
As well as reducing queue times, Jason Thomas, chief executive of tappit, said that the technology can provide rich data into where, when and what the fans are buying.
Sporting events that currently uses tappit technology include English Premier League club Manchester City, English Championship club Birmingham City, the Emirates Airline Dubai Rugby 7s, Abu Dhabi Grand Prix and the World Surf League.