The Phoenix Suns have sold their jersey patch to payment processor PayPal.

Both team and company officials hope the deal will make the arena more of a cashless environment.

As part of the deal, PayPal will be integrated into the Suns’ mobile app, which will allow fans to make one-touch payments to buy everything from merchandise to concession items within Talking Stick Arena, as well as pay for parking. – ESPN

The arena will also have PayPal card readers that enable payments by chip, tap or swipe. Fans will also be able to make purchases using Venmo, the peer-to-peer payment processor that PayPal owns. – ESPN

For us, this deal checked all the boxes,” Phoenix Suns president and CEO Jason Rowley stated in an interview with ESPN. “It was a company with global reach that has the ability to project our brand beyond the local and national footprint, that has a strong presence in our market and is a partner who’s focused on consumer innovation.”

“We believe that they’re a great partner to work on the next generation of consumer experience,” Suns GM Robert Clarkson said. “With sports fans, every second counts, there’s a sense of urgency. The goal is for payments to not take away from that urgency. When someone orders a beer and people have to pass the beer down the aisle and then the money back and forth, it involves 25 people and takes away from their experience.”

According to the Forbes valuation list in February, 2018, the Phoenix Suns are ranked 17th in the NBA with a value of $1.28 billion.