FIA Formula E, a fantastic electric racing championship, has also leveraged mycashless services to improve the purchase experience with complete control of money and primary data ownership.

Key Results:

• 5% dChip App adoption rate – Year 1 (Launch! without Apple Pay and Google Pay)
• 25% dChip App adoption rate – Year 2 (Refined with Apple Pay and Google Pay)
• 49% dChip App adoption rate – Year 3 (Used for Heatmaps and Feedback/Rewards)

What made this possible?

Totems right next to reload stations, and even though wristbands at reload stations were given for free while reloading balance through dChip App had a +4.2% convenience fee, guests preferred and recommended their friends to use the app.

This year Formula E went further and used mycashless dChip App for:

• Heatmaps – Users were asked for their location when purchasing
• Feedback and Rewards – Users were asked for feedback and were given a reward
• Generate expectation through Notifications – Users were informed the race and other activities were about to start.
• Sponsors QRs – Users scan a QR to enter sponsors’ experiences and data is shared with them

Further optimizations:

• Reductions on the number of devices (cash registers) by at least 15% YoY.
• Cutting NFC wristbands by 70% YoY.

These optimizations created 40% savings in mycashless + indirect operational staff costs.