This year, World Cup payments made up 50% of all transactions, scoring a win for cashless payment methods.
Visa has released an analysis of spending the 2018 FIFA World Cup Russia stadiums from the opening match on June 14 through the semi-finals on July 11.
The data revealed that World Cup payments witnessed an increased consumer adoption of cashless payment technology. Ranging from contactless to wearables, the statistics showed that World Cup payments took up more innovative methods as consumers swayed towards convenience over cash.
Visa cardholders on average spent RUB1,408 ($23) per transaction inside the stadiums throughout the tournament, with fans from Russia spending the most, followed by the US and Mexico.
The largest average individual purchases were seen on in-stadium merchandise (RUB4,200). Fan Fest merchandise (RUB3,300) and in-stadium food and beverage (RUB800).
Lynne Biggar, chief marketing and communications officer at Visa, stated:
“Visa’s sponsorships enable us to showcase the latest in payment innovation on a global stage. Visa cardholder spending data during the FIFA World Cup illustrates the growth of contactless payments in Russia and fans’ reliance on quick and secure payments so that they can spend less time in line and more time focused on the pitch.”
The match that scooped the highest World Cup payments volume was between Russia and Saudi Arabia. Data showed that fans spent a whopping RUB55m.
Ekaterina Petelina, country manager at Visa Russia, highlighted: “The Russian payment industry is undergoing a dynamic transformation and has seen huge growth.
“Through our partnership with FIFA, Visa is focused on providing fans in Russia with new ways to pay, while advancing our business in the market.”
World Cup payments: top spending nations
The ten countries whose fans spent the most inside the FIFA World Cup™ stadiums on their Visa cards were as follows:
- Russia: RUB750m
- United States: RUB188m
- Mexico: RUB94m
- China: RUB67m
- Argentina: RUB 41m
- Peru: RUB35m
- England: RUB34m
- Brazil: RUB28m
- Colombia: RUB26m
- Australia: RUB25m
Top Fan Purchase Volume
The five World Cup Fan Fest watch party venues where fans spent the most on their Visa cards include:
- Luzhniki (Moscow): RUB251m
- Saint Petersburg: RUB 38m
- Kazan: RUB11m
- Samara: RUB8.8m
- Sochi: RUB8.5m
With convenience and ease significantly more important for consumers it seems cashless methods have taken the trophy for World Cup payments.