Boston University deploys mobile payments at sports arena

Sporting events are notorious for long food and drink lines. One solution to this issue might be mobile payments, which are currently being integrated into the point-of-sale system at Boston University's (BU) Agganis Arena.

PXT Payments signed a deal with BU to bring its mobile social payments app to the venue's food and beverage stands. Consumers link their bank accounts to the app and simply provide their phone number to the cashier, who inputs it into the system to complete the transaction. The application can also be used to locate nearby merchants and deals.

"Looped in mobile technology offers fans an enhanced user experience at the game, a quick alternative to cash anywhere, deals at the arena and around town and can keep them in touch with what's going on at Agganis," said Kristoffer Brassil, general manager for Agganis Arena.

Mobile payment systems can offer food providers numerous benefits, so it may be a good idea for these types of businesses to show some initiative and begin testing as soon as possible so they don't fall behind the competition.

One of the biggest benefits is that that customers can be checked out faster with no cash being exchanged, according to Open Forum. For the most part, customers have found it to be faster to pay with a mobile device than a credit card as well.

Mobile payment systems also have money-saving advantages. For example, credit card fees paid by business owners can be reduced or eliminated. Square mobile payments is one of the most popular offerings on the market and charges 2.75 percent of each sale, which is lower than the fees charged by credit card companies. Before deploying a system, it will be important for businesses to look into any fees that will be assessed.