Non-cash Transactions Become Trends During the 2018 World Cup

Non-cash Transactions Become Trends During the 2018 World Cup

Non-cash transactions seem to be a new trend throughout the 2018 World Cup event yesterday. This can be seen from the report released by Visa as the official service provider of non-cash payment in the biggest arena in the football scene.

Recently, Visa released a report on the use of non-cash facilities since the opening match until the semi-finals on July 11th ago. The conclusion of the report says that consumers are already adapting to the new technology.

The report revealed that there was a 50 percent increase in the sale and purchase transactions at the venue of the tournament. The data already includes transactions using credit cards, mobile devices, and more.

Visa cardholders spend 1408 rubles (or about 320 thousand rupiah) per transaction in the stadium. Visitors from Russia became the largest contributor, followed by the United States and Mexico respectively.

The visitors also spend more money to buy official merchandises inside the stadium (4200 rubles per transaction, or about 964 thousand rupiah). As for consumption in the stadium, the visitors spend about 800 rubles (about 183 thousand rupiah per transaction).

"Visa's partnership allows us to demonstrate innovative advanced payment methods on a global scale," said Lynne Biggar, head of marketing and communications at Visa Inc., quoted by The Nation.

"Visa cardholders' data during the World Cup illustrate the growing confidence and safety of non-cash transactions in Russia, so they can spend more time on the pitch," he continued.

Of 62 World Cup matches in 2018 Russia so far, the opening match between hosts against Saudi Arabia in Luzhniki Stadium recorded the most revenue, which is about 55 million rubles (or about 12 trillion rupiah). 69 percent come from Russian citizens, while the rest are visitors from abroad.

"The payment industry in Russia is undergoing a dynamic transformation and has shown great development," said Ekaterina Petelina, manager of Russian Visa.

"Through partnership with FIFA, Visa can focus on providing new means of payment to fans in Russia, while advancing our business in the market," he concluded.