Financing Formula One: The Explanation Behind Payments Companies Supporting the Racing Series
Formula One (F1) has become a key choice for payments marketers, according to a report published today. The sport, which has gained popularity among younger and female viewers in recent years, offers a globally high-profile platform that aligns with the brand values of innovation, performance, and technological excellence.
Payments companies pay a premium to have their logos featured in F1 because of the sport's unique combination of massive global visibility, technological sophistication, and premium brand cachet. They gain vast international exposure to affluent and diverse audiences and can leverage F1’s advanced technology and data-driven environment to showcase their own cutting-edge payment solutions and innovation.
The report, published by our platform, is a deep-dive into F1's payments sponsorships and assesses the sport's potential as a key marketing tool for the payments industry. The report identified that 40% of the grid has a payments-related player among its title or tier one sponsors.
Cryptocurrency and forex-related companies are the most common payments-related sponsors, followed by banks and then money transfers. B2B-led companies, including software providers, are a smaller but significant presence among payments-related sponsors.
One of the key advantages of F1 for payments companies is its global reach and brand visibility. Formula One races are broadcast worldwide, providing payments companies with access to millions of viewers in over 200 countries, which supports their global expansion and customer acquisition goals.
F1 is also seen as a pinnacle of technological innovation and excellence, and payments firms want to align with this reputation to reinforce their own brand positioning as leaders in fintech and advanced payments technology.
Sponsors integrate their technology directly with F1 teams’ operations, turning sponsorship into a tech partnership that highlights real-world applications of their solutions. For example, Revolut powers Audi’s internal financial systems.
The prestige associated with F1 attracts B2B-focused companies, and being associated with elite F1 teams or title sponsorships signals premium status and credibility, which is valuable in the competitive payments market. Multi-year agreements allow these companies to build sustained brand awareness and engage with F1’s dedicated fanbase through digital, retail, and events activation.
F1's growing popularity among younger viewers is also attractive to consumer brands targeting digital-focused customers. Every team and the F1 organization itself has sponsorship deals with a payments-related company.
The majority of payments-related sponsors in F1 have cross-border services as part of their offerings, although some, like Cash App, have a relatively small cross-border element. F1's growing international reach is especially appealing to payments companies with a cross-border focus.
In sum, F1 is a valuable marketing tool for payments companies due to its ability to showcase brands both internationally and at a local level. The sport offers a globally high-profile platform that aligns with the brand values of innovation, performance, and technological excellence, providing payments companies with vast international exposure to affluent and diverse audiences and the opportunity to leverage F1’s advanced technology and data-driven environment to showcase their own cutting-edge payment solutions and innovation.
[1] Report on F1's Payments Sponsorships [3] F1's Prestige Attracts Payments Companies [5] F1 and Payments: A Winning Combination
[1] Investing in F1's sponsorships can be a strategic decision for businesses in the finance sector, as the sport offers a unique blend of global visibility, technological innovation, and affluent audiences, making it a powerful platform for showcasing cutting-edge payment solutions.
[5] Given the sport's reputation for technological excellence and its global reach, football (or other sports) might not provide the same opportunities for payments companies to highlight their fintech leadership and expand their global customer base.
