London 2012 Olympic Games
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London Olympics: 100 days to go and consumer spend expected to reach record levels. UK set to benefit £750 million in consumer spend over the 17 day period of The Games.
Johannesburg, 18 April 2012: With just 100 days to go until the London 2012 Olympic Games get underway, Visa, one of the world’s leading payment solution providers, is gearing up to play its part in what is widely expected to be an exhilarating Olympic Games.
Visa has seen consumer spend during the London 2012 Olympic and Paralympic Games increase significantly since it first became a partner in 1986, in the build up to the Winter Olympics in Calgary in 1988.
According to a report by Visa, the UK is set to benefit a massive £750 million consumer spending boost over the seven week period of The Games – the biggest ever consumer spend increase expected for a host market. Furthermore, it is expected that this spend will deliver a sustained stimulus worth a total of £5.1 billion to the UK economy by 2015[i].
“With just 100 days to go, all the planning and organization for London 2012 is coming to a head, with Visa joining athletes, organizers and supporters around the world in anticipation of the arrival of The Games,” says Mandy Lamb, Country Manager of Visa South Africa. “With the UK, and London in particular, holding such a strong attraction for people across South Africa – and with some strong hopes for Olympic success for the 140 strong Team South Africa.
“The 2010 FIFA World Cup™ saw R38-billion added to the South African GDP, with the added bonus of improved infrastructure that South Africans are still feeling the benefits of today,” continues Lamb. “As the exclusive card of the London 2012 Olympic and Paralympic Games and official payment service of the International Olympic Committee, we hope to bring the same benefits to London by helping facilitate record spending levels for the London 2012 Olympic and Paralympic Games.”
As part of its final preparations for London 2012, Visa will be working around the clock to help ensure all point-of-sale devices and dedicated ATM networks are fully installed and ready to go at the Olympic Game venues across London.
Visa has also built an advanced infrastructure for visitors around ticketing, transport and the flow of spectators, underpinned by fast, secure and convenient payments which will be showcased through Visa’s innovative technologies, including:
“London 2012, like the 2010 FIFA World Cup™ in South Africa, marks yet another milestone for Visa as we continue our support of sport as a unifying asset. In supporting the Olympic Games over the past 25 years, we’ve joined the world in watching some of the most memorable, record-breaking moments in sport,” adds Lamb. “And all the while, Visa too has been breaking records and reaching milestones by expanding its network to empower people, economies and businesses with better money.”
[1] Golden Opportunity – London 2012 Olympics and Paralympic Games Expenditure and Economic Impact. The report was conducted by research house SQW, the report was published on the likely impact of increased consumer spending generated by the London 2012 Olympic and Paralympic Games in London and the whole of the UK over the seven week period from the Opening Ceremony of the Olympic Games to the Closing Ceremony of the Paralympic Games.
Visa has seen consumer spend during the London 2012 Olympic and Paralympic Games increase significantly since it first became a partner in 1986, in the build up to the Winter Olympics in Calgary in 1988.
According to a report by Visa, the UK is set to benefit a massive £750 million consumer spending boost over the seven week period of The Games – the biggest ever consumer spend increase expected for a host market. Furthermore, it is expected that this spend will deliver a sustained stimulus worth a total of £5.1 billion to the UK economy by 2015[i].
“With just 100 days to go, all the planning and organization for London 2012 is coming to a head, with Visa joining athletes, organizers and supporters around the world in anticipation of the arrival of The Games,” says Mandy Lamb, Country Manager of Visa South Africa. “With the UK, and London in particular, holding such a strong attraction for people across South Africa – and with some strong hopes for Olympic success for the 140 strong Team South Africa.
“The 2010 FIFA World Cup™ saw R38-billion added to the South African GDP, with the added bonus of improved infrastructure that South Africans are still feeling the benefits of today,” continues Lamb. “As the exclusive card of the London 2012 Olympic and Paralympic Games and official payment service of the International Olympic Committee, we hope to bring the same benefits to London by helping facilitate record spending levels for the London 2012 Olympic and Paralympic Games.”
As part of its final preparations for London 2012, Visa will be working around the clock to help ensure all point-of-sale devices and dedicated ATM networks are fully installed and ready to go at the Olympic Game venues across London.
Visa has also built an advanced infrastructure for visitors around ticketing, transport and the flow of spectators, underpinned by fast, secure and convenient payments which will be showcased through Visa’s innovative technologies, including:
- Contactless Visa cards: These are already being rolled out across the UK and elsewhere in the world. Contactless cards are now in widespread use in London and the Olympic and Paralympic Games will be an opportunity to showcase the latest uses for this technology, demonstrating its full effectiveness for low-value payments.
- Mobile payments: Phones that act as Visa cards will be available allowing Londoners and visitors to travel around the city and within the Olympic Park, as well as make purchases just by waving their mobile phone against a secure reader at a retailer's till.
- Prepaid cards: For visitors who don't already have a Visa card, prepaid cards will be available allowing visitors to obtain a Visa card which they'll be able to use everywhere they see the Visa sign.
“London 2012, like the 2010 FIFA World Cup™ in South Africa, marks yet another milestone for Visa as we continue our support of sport as a unifying asset. In supporting the Olympic Games over the past 25 years, we’ve joined the world in watching some of the most memorable, record-breaking moments in sport,” adds Lamb. “And all the while, Visa too has been breaking records and reaching milestones by expanding its network to empower people, economies and businesses with better money.”
[1] Golden Opportunity – London 2012 Olympics and Paralympic Games Expenditure and Economic Impact. The report was conducted by research house SQW, the report was published on the likely impact of increased consumer spending generated by the London 2012 Olympic and Paralympic Games in London and the whole of the UK over the seven week period from the Opening Ceremony of the Olympic Games to the Closing Ceremony of the Paralympic Games.
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