SwipeStation enables fans to order drinks & food from the terraces - even without an internet connection.
Business overview
| Location | Borehamwood, United Kingdom |
|---|---|
| Social media | |
| Website | www.swipestation.co.uk |
| Sectors | Finance & Payments Mixed Digital/Non-Digital Mixed B2B/B2C |
| Company number | 08051966 |
| Incorporation date | 1 May 2012 |
Idea
Introduction
SwipeStation is a ‘Click & Collect’ service that is proven to increase sales and shorten queues at stadiums and other large venues.
SwipeStation enables fans to create an order from anywhere in the stadium (without the need for an internet connection), and is proven to reduce service time at the bar from over a minute to under 15 seconds.
Faster queues mean that stadiums can sell more drinks during busy periods.
How does SwipeStation differ from other mobile payment apps?
1. The app doesn’t require the internet so it is extremely stable - capable of processing multiple financial transactions in a short amount of time.
2. Many stadiums have a high turnover of bar staff each match. Our service doesn’t require any hardware at the bar or staff training. Staff are simply handed a piece of paper which they exchange for drinks, making our service fast, efficient and fool-proof.
Intended impact
SwipeStation was born from the frustration of slow queues at football and rugby matches.
The solution came about from two eureka moments:
1. The fastest way to get served at a bar is to hand over a piece of paper with your order on it. This simple method removes deliberation, ordering and payment from the bar service area, reducing service time to under 15 seconds.
2. In order to process payments quickly and securely in crowded stadiums, you need an app that doesn't require 3G, 4G or wifi connectivity.
To our knowledge, SwipeStation is the only mobile payment service that solves both these problems.
Substantial accomplishments to date
• 2015: SwipeStation version 6 completed, tested and ready for market.
• 2015: Test pilot at Allianz Park
• 2017: Case-study at Ashton Gate.
- Facebook Live launch video gets 10,000 views
- Up to 74% repeat users in 4 matches.
- Reported a reduced service time of 54 seconds to 15 seconds.
• July 2017: Signed agreement with Centerplate, a catering company operating in 300+ venues worldwide.
• August 2017: Launch at the Stadium of Light (Sunderland FC).
• September 2017: Launch at Welford Road (Leicester Tigers).
- On average, 15% of all orders were through SwipeStation.
- Orders increased by 72% between matches: up to 341 orders in just one bar
- Increased Average Transaction Value by 92% by using SwipeStation.
• February 2018: Launch at Kingsholm Stadium (Gloucester Rugby)
• March 2018: Current sales pipeline includes 45 Premiership & Championship clubs.
• Awards:
- Ignite "Internet of Things" Award: Runner-up (behind 'Hive' British Gas).
- WireHive 100 "Best Tech": Runner-Up.
- The Lovie Awards: Nominee
- W3 Silver Award Winner
- Digital Impact Awards: Best use of Digital in the Food & Beverage Sector: Bronze.
Monetisation strategy
The monetisation for our mobile payment solution is simple. We lease the units to our clients on a contract basis, ideally 5+ years. The longer the contract the less our clients pay each week.
In the future we plan to add more revenue streams, by offering:
- Ticketing and seat upgrade solutions
- Merchandising / e-commerce
- In-app purchases eg live commentary & player stats
- Advertising opportunities to (beer) brands
The Power of Data
As thousands of fans sign up for our service our true value will start to emerge. This data will have value to payment providers, caterers, and brands, and we believe will set us up for a sale in 3-5 years time.
Use of proceeds
To accelerate organic growth - funding allows for a land-grab push to galvanize our domestic position while expanding to other countries.
Personnel:
Funding will enable us to gather and nurture top quality talent - expanding the sales and delivery team in conjunction with our growth.
Product Development:
We believe we currently have first-mover advantage. Funds will enable us to continue to innovate towards providing fans with a fully digital matchday experience- incorporating ticketing, merchandise, ‘Surprise & Delight’ experiences, seat upgrades, action replays and more.
OpEx:
- Increased office expenses (due to increased personnel).
- Increased nationwide travel expenses.
Marketing:
To ensure we are recognised across the industry as the only viable mobile payment solution for stadiums.
Legal:
Firm up global trademarks and patents.
Market
Target market
Our target market is large, with 4,913 stadiums worldwide. We also have the potential to also target:
- Arenas.
- Live Music Venues.
- Festivals.
- Conference Centres.
- Sporting Venues.
- Theatres.
- Bars & Clubs.
Characteristics of target market
-45% of fans have abandoned a concession line at least once in the past 12 months without making a food or beverage purchase.
- 56% of fans said they would be willing to use a mobile app to place an order and pick up concessions from an express line.-
- 80% of UK fans attend live sports to experience the live game.
- The top 2 things that fans globally want to see improved and invested in are stadium facilities (48%) and food & drink (34%).
- 80% of sports fans access sports content using apps, with 32% accessing content daily.
- We believe fans of all ages are becoming increasingly tech-savvy, and are now comfortable downloading apps and paying on mobile.
- FA rules state that fans cannot drink alcohol in view of the pitch. We believe this is unlikely to change in the next 5 years. Without SwipeStation, bar queues are here to stay.
- Many stadiums are becoming increasingly hungry for data on their customers, so they can learn more about their behaviour – to improve the fan experience and sell to them more effectively.
- UK stadiums are unlikely to have functioning wifi for fans in the near future due to the costs involved. However, as and when connectivity arrives, we will be in a position to offer extra products and services
Marketing strategy
- Traditional outbound sales.
We are already in talks with many of the UK's largest stadiums, especially through our relationship with our existing client, Centerplate. With this investment, we can better convert and service these clients.
Competition strategy
Currently, fans pay with cash or card.
There are many other mobile payment systems paving the way, including Starbucks, JD Wetherspoon, and KFC. However, these apps all require an internet connection.
We believe SwipeStation is the only solution on the market that is entirely fit for purpose.