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Visa & Cashless Olympics Celebrate “Currency of Progress,” the Future of Payments, But Fail

from Silver Vigilante:

 

If the Olympics 2012 in London are a celebration of the powers-that-be, then Visa is the plastic of the illuminati. At every Olympic and Paralympic Games for the past 25 years, Visa has implemented and managed the payment system for all game venues. In anticipation of the £750 million in expected consumer spending at the Olympics, “Visa has partnered with merchants to ensure more than 140,000 retail locations throughout the United Kingdom accept Visa pay Wave-enabled cards and phones, including 5,000 London taxis and 3,000 point-of-sale locations at Olympic venues.”

Visa removed 27 Link cash machines across London’s Olympics sites before the onset of the games and replaced them with eight Visa-only ATMs. No power-that-be wanted to risk uppity peasants wandering around London with all that cash, making dark transactions that the power-hungry cannot see. The goal for the Olympics was for Visa, the banks and powers-that-be generally to replace all that too-easy-to-hide cash with a card-based payment system, particularly a contactless card or a mobile-based solution. That would save them a lot of freedom.

Visa—which removed 27 Link cash machines across London’s Olympics sites before the Games began and replaced them with eight Visa-only ATMs—is keen to encourage the so-called ‘cashless society.’

Read More @ Silver Vigilante

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