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31/08/2010 -
Earlier this month, Visa announced that it would be debuting a new type of prepaid card that would act both as a transit ticket and a debit card at the Singapore 2010 Youth Olympic Games.So far, the event retailers and merchants - which only accept Visa - have reported that international spectators spent more than US$8.3 million on opening day alone with their Visa-branded prepaid cards - a nearly 50-percent increase over the same day a year ago.
During the lead-up and first two days of the Games, visitors spent more than US$42.5 million using their Visa cards. The USA, Indonesia, Malaysia, Australia and Japan have been the event's top contributors.
“Based on initial spending figures, the Singapore 2010 Youth Olympic Games looks to have started on a positive note for the local economy and businesses. We’ve also seen a strong showing for our Visa Prepaid cards, with more than 30,000 active cards so far,” Visa’s country manager for Singapore and Brunei, Meranda Chan, said.
The multi-application prepaid card also includes event ticketing features and a "multiple purse" design which can enable funds from different sources on the same card.
