Visa beefs up presence in Beijing
SINGAPORE – – With the 2008 Beijing Olympic Games one year less one day away, Visa and its Chinese member banks have increased the number of merchant outlets that accept payment cards.
Between June 2006 and June 2007, Visa – the official sponsor and exclusive payment card for the 2008 Beijing Olympic Games has seen to the installation of 25,000 more ATMs and 76,000 more merchant locations.
Richard Chang, executive vice president and general manager, Visa China, said, “During the 2004 Olympic Games in Athens, Visa transactions in Greece in August 2004 increased by 55 per cent over the previous year, with an average transaction value of €86.25 (US$103.50).
“At the Torino 2006 Olympic Winter Games, the average transaction at Visa’s ATMs was 35 percent higher than in Athens and 95 percent higher than in 2002 during the Salt Lake City Olympic Winter Games where we already had seen a 30 percent increase in sales on Visa payment cards over the same period in 2001.
“Visa has been extending the acceptance of international payment cards in China for the past few years and the results speak for themselves.
“International Visa cardholders spent RMB13.6 billion
(US$1.76 billion) at retail outlets in China in the first half of 2007. This is almost 20 per cent more compared with the same period in 2006.
“With the Olympic Games fast approaching, it is important that China has a reliable and international-standard payment network, not only in Beijing but also in other cities hosting Olympic events and expecting an increase in tourist arrivals.
“As with the past 11 Games, Visa payment facilities will be installed in the Olympic village, media centres, official hotels, and competition and training venues to ensure that Visa cardholders are able to make secure and efficient transactions and have easy access to cash.”
As of June 2007, more than 206,000 merchant outlets and almost 69,000 ATMs in China accept international Visa payment cards.
Ian Jarrett
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