Contactless Payments Surge During Olympic Games Opening Weekend in Paris.
During the opening weekend of the Olympic Games in Paris, nearly three-quarters of international purchases were made using contactless payments. According to a press release from Visa on August 6, 78% of these transactions were contactless, marking a 9% increase compared to the same weekend last year.
Visa, the Official Payment Technology Partner of the Olympic and Paralympic Games, established a customized payment network over the past three years. This network allows Visa contactless payments to be accepted at 3,500 points of sale across various venues in Paris.
In addition to the contactless payment figures, Visa also released data on spending patterns during the Games’ opening weekend, which ran from July 26 to July 28.
Charlotte Hogg, CEO of Visa Europe, commented on the findings, stating, “Our latest data shows a significant increase in consumer spending among Visa cardholders during the Opening Ceremony Weekend. We’re particularly pleased to see the uptick in spending at French small businesses after we helped 13 million of them digitize over the last four years in Europe and connected them to spectators through the Visa Go app.”
The Visa Go app, launched for Olympic attendees who are Visa cardholders, offers unique experiences and exclusive content. It highlights Team Visa athletes and shares updates on their progress during the 2024 Paris Games.
Small businesses in Paris experienced a 26% increase in sales from Visa cardholders compared to the previous year, according to the press release.
Other cities hosting Olympic events also reported significant year-over-year increases in spending. Saint-Etienne saw a 214% rise, Lille experienced a 100% increase, and Marseille reported a 38% increase in spending.
In terms of overseas spending, U.S. Visa cardholders accounted for the largest share at 29%. Additionally, Japanese Visa cardholders saw the largest year-over-year increase in overseas spending at 129%.
Leading up to the Games, flight bookings to Paris rose by 39%, and travel to the city by individuals under 35 increased by 120%, as reported in the release.