Mivio Launches Digital Platform for Cashless Festival Commerce

Mivio, a pioneering fintech company, has introduced a new digital platform designed to streamline festival commerce by integrating payments, rewards, and vendor services into a single application. The platform, built on the Yellow SDK, enables festival attendees to shop and pay seamlessly while earning experience points, badges, and digital prizes, creating what the company refers to as a "SBD identity" that can be used across multiple events.

One of the key features of the Mivio app is its fee-free cashless payment system. Festival vendors receive instant payments without transaction fees and can transfer funds directly to their bank accounts after events. This eliminates the need for physical cash and reduces the administrative burden on vendors, allowing them to focus on their operations. Attendees, on the other hand, earn rewards through booth visits and app usage for purchases and payments, enhancing their overall festival experience.

The platform also provides privacy-focused analytics and automated sponsorship tools for brands and event organizers. This allows for real-time insights into attendee behavior and preferences, enabling brands to tailor their marketing strategies more effectively. The automated sponsorship tools facilitate brand engagement without the need for manual intervention, making the process more efficient and cost-effective.

The technical infrastructure of the Mivio app is robust, utilizing Next.js and Postgres for the web application framework. VLayer is used for email verification and event attendance certification, while Yellow enables automatic anonymous payments. Flow blockchain technology powers the creation of soulbound NFTs, and wagmi and viem provide blockchain connectivity. This combination of technologies ensures a secure and reliable payment system, enhancing the overall user experience.

The Mivio app addresses multiple challenges in festival commerce by combining cashless payments, instant vendor fund transfers, and attendee reward systems. The technology aims to create a comprehensive ecosystem that connects festival-goers, vendors, and event organizers through integrated digital tools. This not only streamlines transactions but also enhances engagement and satisfaction for all parties involved.

In summary, the launch of the Mivio app, built on the Yellow SDK, represents a significant advancement in the realm of cashless payments. By offering a fee-free, user-friendly solution for festival vendors and attendees, Mivio is poised to revolutionize the festival experience. This innovation addresses the practical challenges of cash management and aligns with the growing consumer preference for digital payment methods, setting a new standard for festival commerce.