Street festivals and other community events can attract large crowds, but a crowd doesn’t always ensure impressive sales. Events that rely upon food trucks, bars, or merchandise vendors circulating on foot traditionally expect attendees to pay in cash. This limits sales right from the start because attendees are limited to the amount of cash they have on hand. Even if they come across items that they would like to purchase after running out of cash, they are often left to search for an ATM and stand in line. In many cases, that isn’t even an option.
More information: http://www.simpli-fi.co.uk/market-trends/cashless-events/