Entertainment, Payment Solution
Oveit launches Oveit Wallet, the cashless payments solution that can help the players in the entertainment industry maximize their revenues
May 11, 2022, 6:30:00 AM
Oveit, the American company of Romanian origin that combines the experience of the events with live shopping through digital online ticketing and live stream shopping solutions, launches Oveit Wallet. The new product complements Oveit Pay, a solution already established in the company's portfolio. Both payment technology products are appropriate for festivals, event organizers, amusement parks, or recreation venues, running through a company-owned blockchain system for increased payment security.
Oveit Pay is a digital payment system that operates payments for small or large events, recreation areas, and amusement parks. Oveit provides users with the technical payment solution and the payment operation bracelet. It is the most scalable product of this type in the profile market that the company has been offering for several years to its international customers in the United States, Japan, South Africa, the United Kingdom, Ireland, and Mexico.
"We always offer our customers the most complete and professional services, including the installation and maintenance of the products. We are always at their disposal, assisting them in the entire setup process, from installation to training on the payment system and on-site support", says Mihai Dragan, COO of Oveit.
Through Oveit Pay, organizers have access to purchase statistics during the event or in the amusement parks to increase the value of their earnings by recording all the sales made, viewing sales statistics of the partner brands, and tracking the route of the participants and their purchase behavior. The data obtained allow them to adjust sales strategies, promotional offers, and the best partnerships with brands.
Oveit Wallet is a service for festival attendants and amusement park visitors to store their money and benefits offered by organizers, and where they operate payments by scanning a QR code, reducing administrative costs for the venue or event administrator. A great advantage for individuals is the increased security of their finances and the freedom offered by a digital wallet that removes the worries of cash management in a large crowd.
„Through these cashless payment products, together with Streams.Live, we want to build in time an ecosystem of diverse live experiences at festivals, amusement parks, and live shopping. We provide increased payment security through the blockchain system by eliminating the waiting times that often negatively impact the participant experience. We aim to facilitate interaction with partner brands, and perhaps most importantly, ensure the transferability of benefits between locations and events in the ecosystem”, adds Mihai Drăgan, COO of Oveit.
Cashless transactions, the fastest way on the market
Recently, the cashless payment method has become more and more widely used. The benefits of using it are many, especially since transactions are much faster than usual. According to Secure Technology Alliance, cashless transactions are 63% faster than cash transactions and 53% faster than the classic card payment model. In addition to the fact that this payment type does not require an active internet connection, it is even more secure, as the customers can pay with bracelets that are impossible to lose or steal. By using Oveit Wallet, customers can fund their digital accounts directly from their mobile phone, paying either with the bracelet or the dynamic QR code.
Oveit was founded in 2015 and quickly became known for the software solutions it provided (access control, ticketing, data analysis). The company decided to offer other experiences, such as conferences or live festivals. In 2017, Oveit developed the cashless payments process for events and locations, ranking 4th worldwide in this segment. In 2019, the company expanded its operations and moved its headquarters to Austin, Texas, from where it began operating globally. Oveit is presently active in the United States, Japan, South Africa, the United Kingdom, Ireland, and Mexico. In Romania, there are already events that use the Oveit method, such as BurgerFest, Awake Festival, Fall in Love, Brizo, Deep Forest Fest, and more.
Oveit is a company originally from Romania, founded in 2015 and established in 2019 in the United States of America, in Austin, Texas. The company aims to improve access to marketing and experiential trading solutions through its products. So far, Oveit has launched cashless payments and loyalty solutions for events and entertainment venues and solutions for access control and registration at virtual and physical events.
The start-up was named the "Most Promising Fintech of 2019" at the NOCASH Gala, and the WTO, part of the United Nations, awarded them the title of "disruptive technology innovator".