Cashless Society: The Icelander Virtual Experience
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Holmes Report
CEO

Cashless Society: The Icelander Virtual Experience

To provide media with a “virtual experience”: a one cashless day simulation in Reykjavik (Iceland) where more than 80% of economic transactions (from hot dogs to McDonald’s) are made through payment cards, e-commerce is a reality and Visa holds a 75% mark

Paul Holmes

OBJECTIVES

Enhance Visa’s corporate reputation among Italian consumers and VISA Italian members (28 main banks in Italy and financial institutions)    

Support the new Visa International strategic positioning for the XXI° century in sinergy with the coming advertising campaign “The Future takes Visa”

Support Visa’s visibility in the “Chip area”: the payment cards of the future

COMMUNICATION STRATEGY

Leverage on the core concept that life is easier thanks to a cashless payment system

Provide media with a “virtual experience”: a one cashless day simulation in Reykjavik (Iceland) where more than 80% of economic transactions (from hot dogs to McDonald’s) are made through payment cards, e-commerce is a reality and Visa holds a 75% market share.

PLANNING PROCESS

International co-ordination between Visa Corporate Communication and the European PR team (C&W London and Milan, Burson Marsteller Paris and Frankfurt, Shandwick Madrid)

Research on “Cashless society” carried out by Professor Paul De Grauwe (Leuven University, Belgium) and distributed to local PR agencies for media relations activities

Media partnership with two main Italian media: “Mediaset Television” (1st private network, please see the attached document “background information”) and exclusive with “Il Sole 24 Ore” economic daily (leader in financial press in Italy).

Co-operation with Iceland Air in Italy and Visa Reykjavik for flight tickets/accommodations

Design of a special TV package focused on “Payments cards and future” - in London and Reykjavik - only for Mediaset “La Macchina del Tempo” the weekly TV programme on science and technology most viewed in Italy (average audience: 2,5 million)

CREATIVITY & CAMPAIGN EXECUTION

1-to-1 media tour to Iceland managed by C&W Milan in co-operation with VISA UK and VISA Iceland in order to provide Italian Mediaset TV journalist and crew media with a “virtual experience”. Two days shooting in Reykjavik without cash, filming Icelanders buying hot dogs, newspapers, sweets or doing e-commerce transactions only with a Visa card.

Usage of a real VISA payment card (with a bank account) branded “Macchina del Tempo” 

1-to-1 interview with VISA Member Top Manager (Bank of Iceland) at Reykjavik

Media tour to Visa Knowledge Centre at Basingstoke (UK) to shoot installations that every day permit to manage and control all the EU electronic payment transactions (amounting to 3 billion approximately) 

1-to-1 interview + shooting with VISA European CEO at Visa London Headquarters (see Q&As and backgrounder attached)

1-to-1 interview + shooting with VISA M-Commerce Responsible at Visa London Headquarters

European Media trip in Iceland with one key journalist from “Il Sole 24 Ore” 

RESULTS

15 minutes TV package on the future payment system with 5 minutes focused on VISA and “Cashless society in Iceland ”: 

2,5 million Italians of share (with peak of 15 million) 

Entire page on il “Sole 24 Ore” (500.000 copies – see article attached)

Congratulations from the client at international level

Video news release used by Visa Italy for Member’s corporate presentation 

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