The 2026 World Cup in the United States, Canada and Mexico will be one of the most technologically advanced tournaments ever staged.
Financial technology (fintech) is guaranteed to play a pivotal role in boosting fan engagement. Read on as we take a closer look.
Seamless Digital Payments and Fan Experience
Fintech will redefine how fans pay and interact economically with the event. They will complete millions of transactions for food, travel, hospitality, merchandise and tickets.
This is expected to contribute to $40.9 billion to gross domestic product (GDP) and deliver $8.28bm in social benefits, highlighting the importance of digital payments.
Fintech platforms have grown remarkably over the past few years. There have been significant improvements in real-time payments, mobile wallets and international settlements.
Supporters will be moving across three countries and need these services to combat the issues that traditionally affect this sort of multinational event.
FIFA and their vast array of partners have also experimented extensively with digital assets and non-fungible tokens to bolster fan engagement and access.
The probability of fans using blockchain-based collectables or digital tokens as engagement tools during the World Cup is high, especially at the younger end of the age scale.
Sports Betting and the Fintech Boom
Sports betting is another area where fintech’s impact will be heavily felt during the World Cup.
Some leading sportsbooks reported a 22 percent engagement level increase during the 2022 World Cup. Canada recorded a 21% increase.
Those percentages will rise this summer as 16 more teams are playing in the tournament. The line-up includes co-hosts Canada, where betting activity will be off the scale.
Fans will be clamouring to use sportsbooks which offer reliable sports betting payment methods to ensure they enjoy a seamless wagering experience.
The betting sites featured on comparison platform BettingTop10 will be inundated with wagers, each of which will be funded by fintech payments.
According to the research, almost two-thirds of consumers plan to bet online. A sizeable number of those individuals will be first time bettors.
Fintech services provide convenient payment solutions for new and experienced punters alike. They hold the key to how bets are placed, settled or cashed out.
Gone are the days when punters had to stand in long queues in shops to place their bets. They now find a trusted sportsbook online, create an account, load it with funds and play.
The speed, efficiency and reliability of these payments have played a key role in attracting punters, even more than betting promotions or competitive odds.
Data-Driven Fan Engagement and Financial Products
Fintech is not just about transactions. It is also about using financial data to personalise experiences and products. This works in several different ways in professional sports.
Companies in the fintech sector can use payment and engagement data to tailor offers, promotions and venue experiences for fans.
For example, if a fan regularly orders food, the fintech company facilitating payment can offer customised deals and exciting discounts.
This kind of intelligence finance has become a mainstay in global commercial dealings, and the World Cup will be the ideal stage for these innovations to gain traction in sports.
New-age tools such as mobile applications and open banking integrations now allow third-party services to plug in. Fans can use a single app to book travel, buy products and access other crucial financial services, including currency conversion.
Fintech companies can also tap into user data to create fan-focused financial products such as co-branded cards and team-exploit-based digital saving schemes.
Fans can have savings and investment plans tied to a particular team. Subsequently, if their team scores or wins, money is added to this plan.
While fintech’s role in fan engagement is less pronounced than in betting and payment rails, its impact on how fans experience the World Cup will be massive.
