Texas-based company launches Oveit Wallet, the cashless payments solution that helps events and venues maximize their revenue
May 19, 2022, 6:30:00 AM
Austin, Texas, 19.05.2022
Oveit, the digital technology company based in Austin, Texas, launches Oveit Wallet, a cashless payment product for festivals, event organizers, hotel resorts, or amusement parks. The solution runs through a proprietary blockchain system for increased payment security.
Oveit Pay is the most scalable closed-loop cashless payments product in the profile market. The company has been deploying the technology for the past 5 years to customers in the United States as well as abroad with key markets being Japan, the United Kingdom, Ireland, and Mexico.
"The events and venues world has been greatly transformed in the past two years. Events and venues need a better, more effective way to accept cashless payments and connect with their community. Oveit Wallet has been designed to allow visitors to support events, pay securely and enjoy their experience fully. At the same time by creating a closed-loop economy for events, venues, and their vendors, revenue increases sharply", says Mike Dragan, COO of Oveit.
Through Oveit Wallet and Oveit Pay, organizers have access to their venue’s purchase statistics and get a clear view of visitors' spending habits. Using Oveit Wallet, they can onboard local vendors in their event’s economy, help them accept cashless payments, and get a share of generated sales. Using sales data, events and venues can adjust sales strategies, and promotional offers, and create relevant partnerships with vendors and leading brands.
Oveit Wallet is a self-service app that allows festival attendants and amusement park visitors to easily store funds and extra perks offered by organizers. By operating payments through dynamic QR codes as well as NFC wristbands, Oveit Pay helps venues and events dramatically reduce their administrative costs and increase their overall profit. 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 our cashless payment products, we envision a better payment infrastructure at festivals, amusement parks, and other live experiences. We provide increased payment security through our blockchain system and we eliminate waiting times that often negatively impact the visitor experience. We aim to facilitate interaction with partner brands, ensuring the transferability of benefits between locations and events in the ecosystem”, adds Mike Dragan, COO of Oveit.
Recently, the cashless payment method has become more and more widely used. The main benefit of using it is the swiftness of transactions. According to Secure Technology Alliance, cashless transactions are 63% faster than cash transactions, and 53% faster than the classic card payment model. This payment type does not require an active internet connection, and it is even more secure.
The customers can pay with wristbands that are hard to lose or steal. By using Oveit Wallet, visitors can fund their digital accounts from their mobile phone, paying either with a wristband or using dynamic QR codes. Using the Oveit Pay point of sale tool and the Oveit Wallet, event organizers can create a solid event economy.
About Oveit, Inc.
Oveit, Inc. is an Austin, TX software company founded in 2016. The company develops cashless payment solutions for events and venues. Oveit aims to improve cashless payment solutions for live experiences, both online and in-person. Oveit has recently launched a live shopping product called Streams.live, leveraging its cashless payments and live experiences technology.