Visa Readies Digital Payments for the Projected 500,000 Visitors Traveling to Russia for the 2018 FIFA World Cup Russia™
November 28 2017 - 8:00AM
Business Wire
Visa, the Official Payment Service Partner of
FIFA, releases travel and spend data timed with the Final Draw for
the 2018 FIFA World Cup Russia™
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.”
Global ticket sales for the 2018 FIFA World Cup Russia™ continue
to perform well, as FIFA recently reported4 that:
- Close to 800,000 tickets have been sold
so far to the FIFA World Cup global fan base.
- Nearly 50 percent of the ticketing
demand is coming from the host country, Russia, with Argentina,
Australia, Brazil, China, Colombia, Germany, India, Mexico and the
United States making up the largest number of international
requests.
To ensure fans have a seamless and secure payment experience
when attending the 2018 FIFA World Cup Russia™, Visa developed the
following recommended travel tips that fans can take advantage
of.
Know Before You Go to Russia
- Notify your issuing bank or
financial institution of anticipated travel plans, including
use of Visa debit, credit or prepaid cards abroad to avoid any
issues while processing transactions. Issuing banks can also
provide information about travel-related benefits for Visa account
holders, including opt-in mobile services, such as Mobile
Location Confirmation through your bank’s mobile app or
Visa’s Travel Authorization Tag.
- Register for SMS notifications
with your specific bank, or the bank’s transaction notification
service, to track purchases made on your Visa accounts as you
travel.
- Set up automatic bill pay for
any credit cards to give you some peace-of-mind that your account
will be current while traveling abroad.
- Make two copies of important travel
documents, namely your passport, in case of emergency. Leave
one copy with a friend or relative and carry the other separate
from your original documents. You can also take a photo with your
cellphone of important documents.
Travel Tips for Fans in Russia
- When paying by card, pay in “local
currency” for a competitive exchange rate.
- Use a credit or debit card for
purchases. Visa offers security, convenience and ease when paying
abroad. It is safer than carrying cash.
- Whenever possible, pay through a
chip-activated terminal when using your credit or debit card
for enhanced security.
- Look for the Visa or PLUS logo at
any point-of-sale terminal to ensure international payment
cards are accepted.
As the Official Payment Service Partner of the 2018 FIFA World
Cup Russia™, Visa will be celebrating the spirit of football in
Russia and is looking forward to showcasing the future of digital
payments with fans from all over the globe. For additional
information on Visa’s sponsorship of the 2018 FIFA World Cup
Russia™, visit www.visa.com.
Methodology
Visa International Travel (VISIT) platform is a proprietary
model that combines Visa's cardholder data with publicly-available
cross-border arrival statistics. The database provides a
comprehensive view into high-frequency cross-border travel flows,
currently encompassing the top 82 origin and destination countries,
which collectively account for more than 80 percent of global
travel. VISIT combines unique counts of Visa cardholders that
register a face-to-face transaction at a merchant outside their
home country in a given calendar month with other transaction data
such as average spend per cardholder, card usage patterns at
lodging merchants and others. Visa uses this data to
econometrically model official arrival statistics compiled by
various government sources and to generate estimates that fill in
the large gaps existing in the cross-border travel data.
About Visa Inc.
Visa Inc. (NYSE: V) is the world’s leader in digital payments.
Our mission is to connect the world through the most innovative,
reliable and secure payment network - enabling individuals,
businesses and economies to thrive. Our advanced global processing
network, VisaNet, provides secure and reliable payments around the
world, and is capable of handling more than 65,000 transaction
messages a second. The company’s relentless focus on innovation is
a catalyst for the rapid growth of connected commerce on any
device, and a driving force behind the dream of a cashless future
for everyone, everywhere. As the world moves from analog to
digital, Visa is applying our brand, products, people, network and
scale to reshape the future of commerce. For more information,
visit usa.visa.com/aboutvisa,
visacorporate.tumblr.com and @VisaNews.
1 Estimate based on the Visa International Travel (VISIT)
platform, 2002-2014.
2 Visa International Travel (VISIT) platform, four-year average,
2014-2017.
3 VisaNet 2014.
4 See FIFA.com/tickets for more information about ticket sales
for the 2018 FIFA World Cup™.
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version on businesswire.com: http://www.businesswire.com/news/home/20171128005556/en/
Visa Inc.Sheerin Salimishesalim@visa.com
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