Visa readies digital payments for 2018 World Cup

Source: Visa

In celebration of the Final Draw for the 2018 FIFA World Cup Russia, Visa (NYSE: V), the Official Payment Service Partner of FIFA, released travel and spending data for the 2018 FIFA World Cup.

Throughout official FIFA venues, Visa will enable a cash-free fan experience by implementing point-of-sale terminals that accept a Visa credit or debit card and a range of digital payments, such as those made via phone or watch.

These enhancements ensure official FIFA venues are equipped with the latest in payment innovation and are ready for the increase in expected international visitors to Russia. Based on spending trends and insights from Visa, it is projected that Russia will host an additional 300,000 to 500,000 international visitors1 during the months of June and July 2018, on top of a baseline average of 4.3 million total international visitors2 to Russia during that same time period over the past four years.

Based on historical data1 from the previous four FIFA World Cup™ tournaments, Visa projects foreign visitors to Russia will represent a 6 to 10 percent increase in foreign visitors to the country in June and July 2018. The largest share of non-native travelers to Russia are forecast to come from:
• Europe (69 percent)
• Asia Pacific (12 percent)
• Americas (8 percent)

Based on historical data3 from the 2014 FIFA World Cup Brazil™, Visa anticipates Russia can expect to see an increase in per traveler spending. On average, visitors attending the 2014 FIFA World Cup Brazil™ spent 31 percent more3 per card than regular tourists in Brazil. Visa projects this difference was a result of FIFA World Cup™ fans spending:
• Over 25 percent more at restaurants
• Over 10 percent more on transportation
• Close to 10 percent more on lodging

“As the Official Payment Service Partner of FIFA, Visa is excited for fans all over the world to join us in Russia,” said Ekaterina Petelina, country manager, Visa Russia. “From unveiling the latest payment innovations to upgrading payment terminals to allow for contactless cards and digital payments, such as those made via phone or watch, throughout official venues, Visa will continue to elevate the fan experience. Visa provides simple and secure payment options for those in attendance, so they can get back to their seats quickly and focus on the match.”

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