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At the upcoming Super Bowl LV, greenbacks will no longer be an accepted method of payment.
While reducing the spread of coronavirus is a plus-the real reason (as is usually the case with the NFL) is to maximize profits.
The Story
For fans who arrive without plastic, "reverse ATMs" will be available which dispense Visa-branded prepaid cards.
The Economics: Much like how a casino converts dollars to Chips, it's easier to stomach a $16 hot dog purchase when you are not handing over cold-hard bills. Visa has found that fans spend an average of 25% more when using contactless payments.
A Game Of Numbers: Switching to an all-digital payment system will also allow the NFL to collect more data on purchasing behavior and create effective loyalty programs.
More than 20 NFL stadiums are scheduled to shift to a cash-free model in the near future.
The Big Day: The game is scheduled to be held at Tampa Bay's Raymond James Stadium on Feb. 7 with 20% capacity. But league executives have said they would be "open" to exploring increased capacity limits should circumstances permit. Knock on wood.
