Visa officials report processing nearly $10 million in sales on that day alone, bringing the total amount of Visa credit card and debit card transactions during the Games to nearly $50 million. Most of the transactions recorded came from foreign visitors, especially guests from the United States, China, and Europe.
Visa's sponsorship guarantees it the special privilege of being the only card accepted for games-related transactions at Olympic venues. However, spending patterns suggest that the overall credit card usage in British Columbia could reach more than triple the amount of transactions conducted during the same time period last year. With international travelers preferring to convert currency automatically through credit card transactions, host city businesses and payment processors should both enjoy an exceptional Olympic business boost.
About the Author
Joe Taylor Jr. is an internal business consultant for a Fortune 500 company, who writes about finance, culture, and design. He holds a Bachelor of Science in Communications from Ithaca College.