P19 UPDATE

Innovative payment solutions ensure economic success at the European Football Championship

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With the help of secure and fast payment methods, the 2024 European Football Championship promises to be a real boom for retail, tourism, hospitality and other sectors. The future of payments at major sporting events was the topic of the second P19 Payment Circle.

Vienna, 25 June 2024 – The European Football Championship has kicked off, and it's not just the stadiums and fan zones that are in a state of excitement. Mega-events like the European Championship are also hugely important for the economy: a wide range of sectors, from tourism and hospitality to retail, media and advertising, are benefiting from it. The German Trade Association expects the European Football Championship to generate an additional four billion euros in retail sales alone.

Payment must be quick and easy, especially at large events

‘Especially at large events, safety and convenience for guests are paramount when it comes to payment. Whether for travel, accommodation, entertainment or catering – a diverse mix of payment options is now indispensable. Thanks to innovative payment solutions, major sporting events can make a significant economic contribution today and bring various industries to record levels,’ explained Martin Sprengseis, co-founder of the P19 payment initiative and managing partner of bluesource – mobile solutions, at the second P19 Payment Circle with representatives from the sports, retail and payment industries, including former national team player Marc Janko, Cathryn Binder-Taisser (Head of External & Employer Relations at Decathlon), Christian Pirkner (CEO of Bluecode), Claudio Wilhelmer (founder and CEO of Winventure) and Roland Toch (co-founder of P19).

‘The easier it is to pay, the more revenue can be generated,’ Sprengseis continues. At this year's European Football Championship, for example, the Austrian payment brand Bluecode is represented as a payment method in all stadiums and fan zones, enabling fast and secure payment via barcode and QR code using a smartphone.

Events as a platform for innovative payment systems

Sprengseis is certain that innovations such as open banking are fundamentally revolutionising payment systems and will play an important role in the future of large events from a commercial perspective. Through the use of open banking, visitors will be able to purchase tickets, fan merchandise and food and drink using seamless and secure payment methods.

Banks and fintech companies are helping to improve the fan experience with personalised offers and discounts. And banks and fintechs are helping to improve the fan experience with personalised offers and discounts. In addition, cross-border payments and currency conversions are becoming possible, explains Sprengseis: "Innovative payment solutions improve the user experience and create significant economic added value. Major sporting events create a unique platform for modern financial technologies such as open banking, thus becoming a real turbocharger for the entire payment industry. Conversely, a wide variety of payment innovations optimise the experience on site, but also in sports and fan apps."

 

Photos: © P19/caarlothaa
 

About P19:

P19 provides a platform for more than 1,200 payment pioneers. The payment pioneers are a rapidly growing network working together to raise awareness of the hot topic of payments in Europe in order to promote collaboration. We stand for exchange and innovation in a sustainable European payments industry. 


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Birgit Koch
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