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The Cash-is-Cool Olympics Campaign
The Cash-is-Cool Olympics Campaign
Campaigns » The Cash-is-Cool Olympics Campaign

Cashless Olympics totally off the cards

An article published in The Daily Telegraph on Saturday highlights Visa's obsession with contactless cards. This obsession is now apparently being inflicted on the 2012 Olympics in the shape of a massive presence for contactless terminals in the Olympic venues' food and retail outlets.

Although not mentioned in the article, we are delighted to report that cash, the most convenient and popular payment method in the world, will be welcomed at every food and retail establishment in every Olympic venue. This is, of course, vital because in most of the 200+ participating nations cash accounts for 80%+ of all payments. In such nations, cards very much play second fiddle to cash, and contactless is either invisible or entirely non-existent.

Going back to Visa's obsession with contactless, it is indicative of the British public's complete disregard for this technology that the 30,000+ contactless terminals that were positioned in the UK during 2010 barely manage to muster 5 transactions each per month. This represents a truly appalling performance.

Rather than continuing to promote the pointless contactless technology, surely the card schemes and banks which have wasted so much money to date on this dismal project should cut their losses by abandoning contactless technology and also lighten their payrolls by ridding themselves of those misguided and spendthrift advocates of this truly worthless innovation. 

Monday, 7th November 2011

Tags:   olympics  /  london 2012  /  cash  /  visa  /  contactless card
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