Olympic,Payments,Cash,Takes,Go ecommerce Olympic Payments: Cash Takes Gold


Wood handles are used in tools due to their ability to provide a good grip when holding the tool. Unlike many other types of handles; wooded handles are easy to grip do not transfer heat and are not an electrical conductor. Therefore, making I will be answering three main questions in this Emerald Passport Review for all of the tenacious Entrepreneurs that are seeking the ideal Home Based Business Opportunity. Internet Marketing has seen some tremendous growth in the "work at ho


0 false 18 pt 18 pt 0 0 false false false /* Style Definitions */table.MsoNormalTable{mso-style-name:"Table Normal";mso-tstyle-rowband-size:0;mso-tstyle-colband-size:0;mso-style-noshow:yes;mso-style-parent:"";mso-padding-alt:0in 5.4pt 0in 5.4pt;mso-para-margin:0in;mso-para-margin-bottom:.0001pt;mso-pagination:widow-orphan;font-size:12.0pt;font-family:"Times New Roman";mso-ascii-font-family:Cambria;mso-ascii-theme-font:minor-latin;mso-fareast-font-family:"Times New Roman";mso-fareast-theme-font:minor-fareast;mso-hansi-font-family:Cambria;mso-hansi-theme-font:minor-latin;mso-bidi-font-family:"Times New Roman";mso-bidi-theme-font:minor-bidi;}Today the I'd like to take a look at the role Mobile Payments playedin the 2012 London Olympic Games. Visa, the Official Payment Provider of the Olympics, pushed for Mobile Payment Technology as a safe and convenient payment optionfor consumers throughout the London games. Jim McCarthy, Head of Productsat Visa Inc., said “This summer we will be demonstrating the future ofpayments in London – a future where most consumers will rely on mobile devices,tablets and PCs to manage their daily financial lives.” As a part of Visa’s Olympics marketing push for the futureof Mobile, a limited edition Samsung Galaxy S III was provided to some Visasponsored athletes and those lucky enough to be chosen for the trial run. The device featured an Olympic-brandedversion of Visa’s mobile payment application, Visa payWave. To make purchases,consumers simply needed to select the Visa icon on the Samsung device and holdthe phone to a contactless payment terminal to pay.It seemed as though Visa had all the pieces in place to makethis Olympics a Mobile Payments success; a dominant payment network, includingVisa only ATMs positioned throughout the games, NFC-enabled vendors able totake the mobile payments, and spectators with smart phones who could pay viamobile. The only problem was competing against an Olympic veteran of everygames, cash.During Great Britain’s Men’s Soccer match versus the UnitedArab Emirates, spectators were unable to pay for food and drinks at WembleyStadium by credit card or mobile payment after terminals went down.  Many ticket holders described the linesthat subsequently built up as ridiculous and said a lack of cash machines atthe west London ground added to the problem.A spokesman for Visa was quick to point the finger atWembley officials, placing the blame firmly on the stadium’s networkinfrastructure saying, "We understand that Wembley's systems failed andtherefore they were only accepting cash at the food and beverage kiosks.”Twitter was bombarded with thousands of angry posts frompeople who found it completely unacceptable that they couldn’t feed themselves.This was due to the fact that the only available way to pay was with old-fashionedcash and coins, a means of payments Visa wanted to push away from with itsmobile payment implementation.In these games, mobile payments did not expand as much asVisa had anticipated.  Add that tothe complete network failure at Wembley Stadium and it would seem that mobilepayments were a flop at this year’s Olympic Games.  The silver lining however, is that mobile payments did havea huge presence at the games.  Andthe uproar caused by the network failure seems to prove that we are quickly moving awayfrom cash as a society.  Just a fewyears ago, credit card terminals going down at the Olympics might not have beensuch a big story, let alone a trending topic on Twitter.  It seems for the London Olympic Games,cash took the gold medal yet again in payments, but with the recent doubling of mobile payments users here in the U.S. and the increase globally; cash may soon be unseated by mobile payments.

Olympic,Payments,Cash,Takes,Go

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