MIAMI--(BUSINESS WIRE)--When the FIFA U-20 World Cup Colombia 2011 kicks off, Visa will be reaping the benefits of a solid business platform based on promotions and activities designed to deliver additional benefits to client banks and cardholders in Latin America. Through strategic partnerships with key financial institutions and merchants in the region, Visa uses its rights as one of six FIFA Partners to drive its business, increasing its presence at the point of sale, opening the way for new acceptance channels, and generating direct benefits for local economies and businesses through an increased number of transactions.
“The FIFA World Cup in South Africa was a success for the local economy and generated tangible business development benefits for Visa, its clients and partners,” said Yuri Morales, Regional Director of Sponsorships for Visa Inc., Latin America and Caribbean Region. “With the sponsorship of the FIFA U-20 World Cup Colombia 2011, Visa will continue to consolidate its leadership as a global brand, increasing its transaction volume and expanding acceptance and preference for Visa products among consumers that are already starting to live the experience of the World Cup in Colombia, a key market for Visa that offers a great potential to leave a positive legacy after the tournament.”
One example of the way Visa leverages the FIFA sponsorship and consolidates the football fans’ preference for Visa products are the 17 promotions that have been activated at some of the merchants preferred by Colombians, including Carrefour, Éxito, Home Sentry, McDonald’s, and Friday’s. These promotions allow Visa cardholders to enjoy exclusive benefits such as special discounts, assorted prizes and tickets to take a close look at the future football stars that will make history during the 2014 World Cup, while generating increased sales for participating merchants.
In addition, Visa passes its rights on to its client-banks so financial institutions can activate their own promotional platforms to drive acquisition and customer retention, as well as the use of Visa cards issued by them, by offering special benefits such as hospitality services and exclusive access that only Visa can offer. Through the “Go Colombia” campaign, Visa brings its promotional platform to Visa cardholders of all issuer banks in the country, summoning fans to register all their Visa purchases to win instant prizes consisting on prepaid cards and to participate in drawings to win packages with exclusive benefits for the FIFA U-20 World Cup Colombia 2011.
The FIFA U-20 World Cup Colombia 2011 is the first FIFA tournament played in Colombia. The top 24 teams in the world will compete for the title in the 52 matches held from July 29 to August 20, 2011, in the cities of Armenia, Bogotá, Barranquilla, Cartagena, Cali, Manizales, Medellín, and Pereira.
As one of six FIFA global sponsors with exclusive rights in the category until 2014, the Visa credit, debit and prepaid cards are the preferred cards accepted at all venues and online merchandise stores during the FIFA U-20 World Cup Colombia 2011™.
Experience in South Africa
The FIFA sponsorship worked hard for Visa during the FIFA World Cup South Africa 2010™. More than 500 financial institutions and merchants in more than 90 countries took advantage of this sponsorship to drive their business and the Visa GO Fans campaign was activated in over 30 markets, reinforcing the benefits of electronic payments and the preference for this payment method over cash and checks.
The FIFA sponsorship helped drive the Visa business in Africa through new acceptance channels, new partnerships with merchants, and new business development activities with financial institutions. Visa provided the infrastructure for all FIFA World Cup venues in South Africa and worked closely with 14,000 merchants in nearly 200 shopping malls and districts to help bring the GO Fans campaign to life in the retail environment.
The South African economy received a great boost from the spending of foreign visitors who used their Visa cards in the country during the days leading to the 2010 FIFA World Cup™ and during the competition. According to Visa cardholder spending data, during the period before the tournament started and until it ended (Tuesday, June 1st to Sunday, July 11), the spending by international visitors in South Africa with Visa payment cards exceeded US $312 million (R 2.4 billion). This figure represents an increase of 70 percent or US $128 million (R1 billion) compared to US $184 million (R1.4 billion) during the same period in 2009.
Visa has used the sponsorship to promote financial literacy programs in Sub-Saharan Africa, while 30 other countries – including Brazil and Mexico in Latin America – have launched Financial Football, an educational program.
Visa is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable digital currency. Underpinning digital currency is one of the world’s most advanced processing networks—VisaNet—that is capable of handling more than 20,000 transactions a second, with fraud protection for consumers and guaranteed payment for merchants. Visa is not a bank, and does not issue cards, extend credit or set rates and fees for consumers. Visa’s innovations, however, enable its financial institution customers to offer consumers more choices: Pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit www.corporate.visa.com.