06 February 2016

Visa runs into criticism over Olympic ATM plans

01 June 2012  |  8742 views  |  1 ATM

Visa has run into hot water again over its controversial Olympics sponsorship deal after it emerged that the card scheme has insisted on replacing 27 ATMS at various Olympic sites with just eight of its own machines.

Ron Delnevo, managing director of independent ATM operator Bank Machine and a member of the UK Payments Council, says Visa's move to shut down machines which accept cards from rival brands would result in a "cash-starved" games.

Visa confirms that existing ATMs at nine locations hosting Olympic events have been switched off and supplanted by eight new machines which will only accept Visa cards.

The card scheme lamely contends that visitors without Visa cards can still bring cash into the sites. It also points out that 115 million Visa cards are in circulation in the UK, meaning there is a "high probability" that most visitors will have access to one of its cards.

Visa's sponsorship deal caused a furore last year when it emerged that people wanting to buy tickets for the Games could only do so if they were in possession of a Visa debit, credit or pre-paid card. There was more trouble for Visa when the tickets eventually went on sale in March last year but applications from users whose cards expired before August 2012 were refused.

Comments: (1)

Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune | 04 June, 2012, 13:40

If Visa is taking such obviously-controversial steps, it'd appear that it has adequate coverage in its sponsorship contract to do so. In that case, a fair share of the blame for such inconveniences must go the organizers as well. Would be interesting to know the outcome of the last two furores related to ticket booking and card expiration date. 

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

23 May, 2012
24 February, 2012
17 May, 2011
16 March, 2011
17 August, 2010
24 June, 2010

Related company news


Top topics

Most viewed Most shared
Fintech rising: Resistance is futile, says...
9252 views comments | 47 tweets | 38 linkedin
Digital transformation driving earnings at...
7790 views comments | 39 tweets | 35 linkedin
ECB eyes up European P2P payments
7407 views comments | 27 tweets | 37 linkedin
Visa opens up to developers
5964 views comments | 23 tweets | 39 linkedin
Mondo releases API to let customers play w...
5595 views comments | 22 tweets | 20 linkedin

Featured job

Find your next job