Visa Europe has said that contactless payments
accounted for one in six sub-£20 transactions across Olympic
venues.
The network’s head of contactless Mark Austin
said the result was positive: “We are pleased with consumers’
response to the technology and have gained many useful insights
that will help make contactless a commonplace payment method,” he
said.
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Visa installed some 3,000 contactless
terminals throughout the venues at the London 2012 Olympic and
Para-Olympic Games to demonstrate the value and potential of
contactless payments. Controversially, the network also prevented
the use of any other card network at the sites ATMs and points of
sale.
Austin said: “The response has been extremely
positive and our priority now is on turning that enthusiasm into
commercial mobile payment deployments across Europe.
“Working with our fellow Olympic sponsor
Samsung to demonstrate live mobile payments on the Samsung Galaxy
SIII smartphone has increased awareness and enthusiasm for mobile
payments among retailers and financial institutions,” he said.
“We believe strongly in the value of mobile
and contactless payments. By 2020 we expect that half of all
transactions over our network will be through a mobile device,” he
concluded.
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By GlobalDataMore analysis on Visa and the
Olympics
