Veritix, owner of Flash Seats paperless ticketing technology, has signed an exclusive deal to provide primary and secondary ticketing services for the Cleveland Cavaliers,...

Veritix, owner of Flash Seats paperless ticketing technology, has signed an exclusive deal to provide primary and secondary ticketing services for the Cleveland Cavaliers, Lake Erie Monsters and their arena home, the Quicken Loans Arena. The deal is set to go into effect October 1.

Flash Seats, a digital ticketing platform, eliminates the need for paper tickets by allowing fans to swipe a credit card to gain entry to an arena. The technology also gives fans the option to sell their tickets in an authenticated setting, thereby limiting secondary sales to one officially sanctioned marketplace. Flash Seats was launched as an exclusive for Cavaliers season ticket holders in 2006. According to Veritix, those season ticket holders gave the platform a 98 percent approval rating. Cavaliers owner Dan Gilbert is the majority owner of Veritix.

“Veritix’s Flash Seats technology is a win-win for fans, artists, teams and venue operators,” Sam Gerace, Veritix CEO said in a company news release. “Flash Seats provides our clients with the ability to understand their fan base and provide a superior level of marketing and customer service. Venue operators, teams, artists and the fans all enjoy a superior level of convenience, control and security.”

The announcement comes on the heels of a settlement between the Cavaliers and Ticketmaster that allowed the Cavaliers to continue using Flash Seats technology to resell tickets. Ticketmaster had argued that the Cavaliers had violated an exclusive agreement with Ticketmaster by using the Veritix platform. The terms of the settlement were not disclosed.

Kroenke Sports Entertainment, which owns Denver-based TicketHorse, also recently chose Veritix to be its exclusive primary and secondary ticket provider. That deal expands a previous arrangement to include ticket sales to Pepsi Center events such as Denver Nuggets and Colorado Avalanche home games.