Visa piloting payment innovations to enhance the Olympic experience
At a recent media event in Beijing, Visa shared its plans for three Olympic Games-inspired payment moments conceived and designed in Visa’s global network of 11 Innovation Centers. These include new concepts of remote digital ticket purchase, biometric authentication for stadium entry, streamlined retail shopping, and in-home “couch commerce’ using augmented reality.
“There has been no better payment technology partner historically and there is no better payment technology partner for the future we are building together,” said President Thomas Bach, International Olympic Committee. “As we introduce innovations that help improve fan experiences both on-site and at-home, we know that no matter where in the world the Olympics take us, Visa is the right partner to help us deliver them.”
Visa has been the exclusive payment sponsor of the Olympic Games for more than 30 years and has used the global stage to introduce and implement new payment technologies. Moving forward under the renewed partnership, together Visa and the IOC will tap into the network of resident designers and developers within Visa’s Innovation Centers around the world to continue this important innovation. Visa recently renewed its Olympic partnership through 2032.
“Our Global Innovation Centers are immersed in solving every day consumer challenges and discovering improved commerce experiences, that can be shared and scaled globally,” said Ryan McInerney, president of Visa, on stage at the Beijing event. “Planning for the upcoming Olympic Games helps Visa develop industry leading payments solutions that will redefine fan experiences and leave a legacy of improved digital commerce everywhere.”
Earlier this year Visa announced pilot projects for a new EMV dual-interface biometric payment card with chip and contactless transaction capabilities in partnership with Mountain America Credit Union and Bank of Cyprus.