Givex Information Technology Group Ltd said it has brought on 15 new professional US sports teams as clients in 2022, utilizing various Givex products including Uptix.
"These new partnerships showcase Givex's ability to provide turnkey digital solutions that are easy to implement and arm venue operators with data to drive revenue and make business decisions," said Don Gray, CEO of Givex in a statement.
"An Uptix client saw an average upsell of 47% per game in the month of August, and that's just one example of the many clients who see the ongoing value of Uptix and other Givex products," he added.
WATCH: Givex reports strong rise in second quarter revenue as more customers adopt its end-to-end solution
Uptix enhances the gameday experience for fans with its stored value ticketing functionality, allowing for cashless concessions with shorter lines and in-game promotions. Stored value tickets have multiple functions (season ticket holder discounts off certain items, concessions and merchandise redemptions) and a barcode that can be scanned by a Point of Sale (POS) system to redeem the funds loaded on the ticket.
"The COVID-19 pandemic emphasized the need for venues to utilize cashless digital solutions to manage concessions, merchandise, ordering and more, putting Givex in a coveted position in the industry," said Debbi Blackburn, VP Business Development at Givex. "Our Uptix product, for one, offers a multi-pronged solution that allows venue operators to surprise and delight guests with in-event promotions while driving concession revenue."
At any time during a game, venues can add value to fans' tickets in a certain section or row, which creates excitement for fans and drives revenue for concessions. Ticket holders typically spend more than the value added on their tickets, creating lift and resulting in higher concession and merchant revenues. With Uptix, clients also can track fan spending, identify key customer segments and tailor promotions to increase spending, as well as utilize stored value to handle customer service issues in real-time.
Another application of Uptix is for venue employees. For example, Givex developed a cashless payment solution for a professional baseball team, already a gift card, Uptix and instant rewards client. The payment solution manages meals for employees working in the venue using QR codes on their employee badges. Employees can manually reload funds or participate in the Auto-Reload program, and can use the stored value at any POS in the ballpark.
Givex is a global fintech company providing merchants with customer engagement, point of sale and payment solutions, all in a single platform. It is integrated with 1000-plus technology partners, creating a fully end-to-end solution that delivers powerful customer insights.
The company's platform is used by some of the world's largest brands, comprising approximately 116,000 locations across more than 100 countries.
Contact the author at jon.hopkins@proactiveinvestors.com