Visa lends a helping hand to China
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The number of merchant outlets that accept payment cards in China have increased by 60% compared last year.
Between June 2006 and June 2007, Visa has installed 25,000 more ATMs and 76,000 more merchant locations - that equals to an average of more than 210 new Visa merchants and 68 ATMs per day!
According to Richard Chang, Executive Vice President and General Manager Visa China, their previous experiences in sponsoring Olympic Games has shown that international visitors present for the big event, will sky rocket the use of electronic payment.
As an example, he said that during the 2004 Olympic Games in Athens, Visa transactions in Greece in August 2004 increased by 55 percent over the previous year, with an average transaction value of US$103.50.
At the Torino 2006 Olympic Winter Games, the average transaction at Visa’s ATMs was 35 percent higher than in Athens and 95 percent higher than in 2002 during the Salt Lake City Olympic Winter Games where we already had seen a 30 percent increase in sales on Visa payment cards over the same period in 2001.
With the Olympic Games fast approaching, it is important that China has a reliable and international-standard payment network, to ease the payment experience not only in Beijing but also in other cities hosting Olympic events and expecting an increase in tourist arrivals.
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