Any thoughts on making that hate actionable? I agree with everything that has been said about feeding it back to the company and the LCOG but I don't think they care. Clearly the vendors hate it too, maybe NFC will help here? Something where the vendor can claim plausible deniablilty that you didn't pay with the sponsored card? Maybe give out $100 Mastercard gift cards in the middle of the village and drive people nuts? I don't know, something to escalate this kind of thing?
Great work Visa, now I hate you
171–180 of 267 posts
Re: Great work Visa, now I hate you
#172Earlier quoted context omitted.
"$700 million worth of charges" Visa only gets 2-5% of the charge. Lets assume on the high end at 5% we are talking about only 35 million in income. Even doubling that for the second week we get 70 million (before costs). How is that the quickest ROI ever? Sounds like a bad marketing move backed up by a loss of profits. Maybe the real winners were the olympic committee or the other credit card companies that bid up t…
Visa's in it for the interest payments. For every consumer that doesn't pay their bill in full each month ... they've got months and/or years of interest piled on top of paying back whatever they spent.
Wouldn't the issuing bank get the interest?
Re: Great work Visa, now I hate you
#173Hear hear. Currently I just take whatever credit card my bank provides (which currently is VISA, which is another story altogether), but I'll make sure that whenever there is a reasonable choice I'll choose another provider in the future.
There used to be a time where marketing was about awareness. The extra money that both McDonald and VISA will make from these exclusive deals is likely peanuts to their global revenue, but both squandered their chance of just being visible and now mixed it with "we just spent a lot of money to keep the competition away". Stupid it you ask me.
Re: Great work Visa, now I hate you
#174I've been having enormous trouble understanding the thinking behind the "We are proud to only accept Visa" marketing campaign. I simply can't understand how it could be viewed positively by any consumer - it's such an obviously anti-customer thing to do. I've been trying really hard to understand why Visa would make such an obviously unfriendly and counter-productive decision. The only theory I can come up with is th…
> I simply can't understand how it could be viewed positively by any consumer Visa's market research suggests a significant increase in Visa usage and Visa brand value among consumers aware of their Olympic sponsorship (which has been ongoing since 1986, and already committed through the next 4 Olympics games): > According to the U.S. Sponsorship Tracker, a Visa commissioned study following the Vancouver 2010 Olympic…
That is completely besides the point.
I'm sure people appreciate VISA's Olympic sponsorship, there is little question about this. Exclusive sponsorship if different from limiting the choices of vendors and customers.
People do not like being limited in their choices, I do not think that benefited them.
Re: Great work Visa, now I hate you
#175Earlier quoted context omitted.
>In socialist Europe, banks own YOU! Americans have a lot more personal debt than Europeans. 'In Free Market America, banks own YOU!' would be more appropriate.
'In Free Market America, banks own YOU!' would be more appropriate. But wrong. Or at least 'they own the unwary and dumb'. I bank with a credit union, got rid of my credit cards in favor of debit, and working real hard to pay down my debt. Already I've bought two vehicles for cash. Now, granted, they were not _great_ vehicles, but they run and they're paid for. Looking forward to paying _cash_ for a really _nice_ (bu…
Why get rid of your credit cards? As long as you pay the balances in full every month, a modest selection of credit cards can easily lower your expenses by 3%, if not more. You can also accumulate a fair bit of free spending by trading out old cards for new ones with signing bonuses. Think of it like a free, untaxed $3-4,000 bump in salary.
Re: Great work Visa, now I hate you
#176During the Vancouver Olympics not only were we not permitted to use other credit cards, we couldn't even use our bank-issued debit cards for payment (in Canada we don't have Visa Debit cards - our debit cards are issued directly from banks have been accepted everywhere for nearly two decades.) Cash or Visa Only. So there I was at an official Olympic souvenir shop picking up some gifts when I was told no - I'd have to…
> Needless to say they lost the sale. How many other sales did they lose I wonder? Surely not enough to cover the massive amount of money Visa paid to be an exclusive sponsor. In London this year that is reportedly over $100M and during the first week Visa racked up $700 million worth of charges at the games.
Did you know that all the sponsors combined payed for only 8% of the cost of the Olympics? 92% of the cost of being screwed was payed by the screwees!
Re: Great work Visa, now I hate you
#177Earlier quoted context omitted.
The problem is that everyone know that other cards are accepted everywhere apart from the olympics, or at least Mastercard is. This is more like BMW deciding to sponsor the construction of a road and only allowing their cars to pass.
I've seen Lexus sponsor parking lots or garages at sporting events, and lexus owners get to park for free. everyone else pays full price
And that's exactly the type of positive marketing that works! Give something, and people will like you.
Re: Great work Visa, now I hate you
#178Earlier quoted context omitted.
The problem is that everyone know that other cards are accepted everywhere apart from the olympics, or at least Mastercard is. This is more like BMW deciding to sponsor the construction of a road and only allowing their cars to pass.
I've seen Lexus sponsor parking lots or garages at sporting events, and lexus owners get to park for free. everyone else pays full price
Yeah, but this is like: only allowing people with Lexuses to enter, everyone else... just can't get in.
Re: Great work Visa, now I hate you
#179I've been having enormous trouble understanding the thinking behind the "We are proud to only accept Visa" marketing campaign. I simply can't understand how it could be viewed positively by any consumer - it's such an obviously anti-customer thing to do. I've been trying really hard to understand why Visa would make such an obviously unfriendly and counter-productive decision. The only theory I can come up with is th…
> I simply can't understand how it could be viewed positively by any consumer Visa's market research suggests a significant increase in Visa usage and Visa brand value among consumers aware of their Olympic sponsorship (which has been ongoing since 1986, and already committed through the next 4 Olympics games): > According to the U.S. Sponsorship Tracker, a Visa commissioned study following the Vancouver 2010 Olympic…
Right, but being a Olympics sponsor is mainly something people find out about on TV, not by actually going to the games.
Where is the evidence that actually preventing people from using mastercard helps?
Re: Great work Visa, now I hate you
#180Earlier quoted context omitted.
It's been enforcing these kind of competitor exclusion zones on card payments at major sporting events since 1986? Ah.. Just looked it up. - http://www.apnewsarchive.com/1996/Visa-Will-be-Only-Credit-C... OK. Fair enough. They haven't just miraculously turned into complete bastards on this, they were just complete bastards all along and the press happens to be making a fuss about it at the moment, just cos it is news…
Just because consumers accepted something in the past does not mean they will accept it in the future. For example, in the past when I found a flashy new b2b service I would grumble when I couldn't find a price list and continue my research. Now, when I visit a company's page and there are no listed prices, I immediately close the tab and forget about it. Saying "We only accept Visa" is like saying "We only serve whi…
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