Visa Europe partners with FIA Formula E Championship

Agreement sees Visa Europe become official payment services partner for Monaco, Berlin and London races

  • Visa Europe announced as sponsor of the world's first fully-electric racing series
  • Formula E is revolutionising electric motorcar racing and the future of car engines
  • Our vision complements this by driving innovation in payments making them simpler, smarter and more secure

Monaco, 8 May 2015: Leading European payment provider Visa Europe, has today been announced as a new sponsor of the inaugural 2014/2015 FIA Formula E Championship – the world’s first fully-electric racing series.

The deal sees Visa Europe become the official payment services partner for the Monaco ePrix, on 9 May, DHL Berlin ePrix on 23 May, and London ePrix, on the weekend of 27/28 June.

Launched today by Mark Antipof, Chief Officer, Sales and Marketing at Visa Europe, and Alejandro Agag, CEO of Formula E, the cutting edge partnership will come into effect immediately, ensuring Visa’s engagement with fans of Formula E in Europe, through a mixture of social, digital and traditional marketing activations.

Mark Antipof said: “We are very excited with this affiliation that we see as the perfect combination of two truly innovative brands. Visa Europe’s vision is to drive innovation throughout Europe making payments simpler, smarter and more secure than ever before. With Formula E’s ambitious approach towards revolutionising electric motorcar racing, and the future of car engines, it’s the perfect complementary partnership helping drive the future in each segment.

“Through this partnership, our mission is to put fans at the heart of the races. We will be announcing a number of exciting activities over the coming weeks culminating in the season finale at the London ePrix.”

Alejandro Agag, CEO of Formula E, added: “Formula E aims to drive the change towards an electric future, while promoting clean energy and sustainability. Visa Europe’s clear commitment towards innovation, extensive experience within the market and broad audience reach makes this partnership a clear and bold step towards realising this future.”

Running until June 2015, Formula E is a new FIA single-seater championship and the world's first fully electric racing series. It sees ten teams competing, at speeds of up to 140 mph, in 10 of the world's leading cities including Monaco, Berlin and London. The 10 teams, each with two drivers, race on bespoke city-centre circuits creating a unique and exciting series designed to appeal to a new generation of motorsport fans.

About Visa Europe

Visa Europe is a payments technology business owned and operated by member banks and other payment service providers from 37 countries across Europe.

Visa Europe works at the forefront of technology to create the services and infrastructure which enable millions of European consumers, businesses and governments to make electronic payments. Its members are responsible for issuing cards, signing up retailers and deciding cardholder and retailer fees.

Visa Europe operates a high volume, low cost business model that provides services to its members. Its surplus is reinvested into the business and used to improve capital and reserves.

There are 500m Visa cards in Europe, while €1 in every €6.50 spent in Europe is on a Visa card. In the year to September 2013, total expenditure on Visa cards reached €2 trillion, while point-of-sale spend increased by 8.5% to €1.4 trillion. Annual online spending on Visa cards continues to grow (20% year-on-year) and now stands at €240bn.

Since 2004, Visa Europe has been independent of Visa Inc. and incorporated in the UK, with an exclusive, irrevocable and perpetual licence in Europe. Both companies work in partnership to enable global Visa payments. As a dedicated European payment system Visa Europe is able to respond quickly to the specific market needs of European banks and their customers - cardholders and retailers - and to meet the European Commission’s objective to create a true internal market for payments.

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About FIA Formula E Championship

Formula E is a new FIA championship featuring Formula cars powered exclusively by electric energy. It represents a vision for the future of the motor industry over the coming decades, serving as a framework for research and development around the electric vehicle, accelerating general interest in these cars and promoting sustainability. Commencing in September 2014, the championship will compete in the heart of 10 of the world's leading cities - including London, Beijing and Miami - racing around their iconic landmarks. For the inaugural season, 10 teams, each with two drivers, will go head-to-head creating a unique and exciting racing series designed to appeal to a new generation of motorsport fans. Operating as an 'open championship', the series gives car manufacturers and constructors the opportunity to showcase their electrical energy innovations in a racing environment, designing cars to the technical specifications set out by the FIA.

Follow Formula E:

Twitter: @FIAformulaE #DrivetheFuture