MOVEHUT have already revealed that several big brand commercial property chains are playing a huge role in the London 2012 Olympic Games, with smaller brands that have not become official sponsors being forced to sell their products without labels or even brand names advertised. However, it seems that Visa have gone a step further in ensuring minimal competition in Olympics commercial properties.
The sponsors have been accused of exploiting spectators as they have, in effect, made cards of rivals such as American Express and MasterCard all but obsolete in the commercial properties linked to the Games.
In fact, the company has ordered the closure of 27 ATM machines in and around Olympic venues, replacing them with only 8 machines which only accept Visa debit cards. Unfortunately, these will only be located in the Olympic Park, found in East London, and the Excel centre in the Docklands – leaving 34 Olympic commercial properties, including Wembley Stadium, with no cash points at all.
And for those who prefer to hand over their American Express or MasterCard directly to cashiers at the tills in commercial properties, the news only gets worse. Customers who do not have cards with the Visa logo on them will find their debit cards will not be accepted in any Olympic commercial properties.
Due to the loss of 19 cash points in the area, Marc Gander of the Consumer Action Group predicts long queues for consumers wishing to withdraw money from LINK machines in and around the commercial properties associated with the Olympics.
He says; “This is shocking. It is a privilege to be a sponsor of the Olympics and they are abusing that privilege by exploiting consumers. Non-Visa customers will be angry and concerned by this type of discrimination.
“Where are we heading with this? Will we cover up manhole covers with Thames Water on them because it is not a sponsor?
“This should be a joyous event and instead it is being marshalled in a controlled and rather sinister ‘1984’ manner.”
Critics have claimed that this dominance of commercial property payments and cash withdrawals by Visa is a method of getting more customers to sign up for their cards. Some have even accused the company of turning the Games into an advertisement for their “contactless” payment cards, which can be used in Olympic commercial properties to pay for items up to the value of £20. So far, their new method of paying has proven unpopular, mainly due to a concern about security risks among consumers.
However, some critics have pointed out that Visa earns a transaction fee every time one of their customers uses their debit card to pay for an item in a commercial property, rather than withdrawing the cash, and question whether congesting the cash points is a cynical method for Visa to boost their annual income.
Ron Delnevo, UK Payments Council director, has accused Visa of being “power crazed”.
He added; “The Olympics do not belong to any sponsor, no matter how much money they have paid. McDonalds is a sponsor but is not forcing everyone to eat only hamburgers.
“This is plainly unacceptable in a world where 85 per cent plus of all transactions continue to be made using cash.
“The Games are meant to be a celebration of the sporting prowess of men and women from every corner of our planet. Sadly, it seems that the ideals of the Olympics now take a back seat whenever they get in the way of needs of commercial sponsors.”
Visa has responded to claims that they are simply trying to exploit customers by not allowing rival companies access to Olympic commercial properties.
A spokesman said; “At every Olympic Games, Visa creates and manages the entire payment system infrastructure and network throughout every Olympic Games venues.
“Eight ATMs will be installed at London 2012 Olympic venues and this year, for the first time at an Olympic and Paralympic Games, contactless payment technology will be implemented across the event venues providing additional ways to pay.
“Visa debit, credit and prepaid cards and cash will be accepted at all venues.”
Do you think Olympic sponsors should be able to monopolise commercial properties participating in the event? Or should non-sponsor companies also be allowed to benefit from the major worldwide attraction?
