SAN FRANCISCO, CA – NOVEMBER 8, 2017 – Visa (NYSE: V), the exclusive payment technology partner at the Olympic and Paralympic Games, today introduced three commercially available wearable payment devices. In the spirit of the Olympic Winter Games, Visa created NFC-enabled payment gloves, commemorative stickers and Olympic pins that allow fans and athletes to complete seamless and secure payments with a simple tap at any contactless-enabled terminal.
“We are looking forward to transforming the payment experience for everyone who attends the upcoming Olympic Winter Games in PyeongChang,” said Iain Jamieson, Korea country manager at Visa. “At Visa, we have been working tirelessly to ensure all of the Olympic venues are equipped with the very latest payment capabilities to provide the best experience possible for all those on-site.”
Visa teamed up with Lotte Card, the financial arm of South Korean-based retail giant, Lotte Department Store, to produce and make these new prepaid payment wearables available for purchase in Korea beginning November 9. About the products:
- Commemorative Olympic Pin: Inspired by the long-standing tradition of collecting commemorative pins at the Olympic Games, Visa is bringing to market four unique lapel pins featuring custom PyeongChang 2018 designs to offer a payment-enabled collectable for fans and athletes to utilize on-site. Cost per pin is KRW5,000 plus desired embedded prepaid amounts valued at KRW30,000 or KRW50,000.
- Payment-Enabled Gloves: The average temperature in PyeongChang will be – 4.8°C[1], so gloves will be a must-have! This payment glove will offer fans a way to pay safely and securely without having to get cold hands. The gloves contain a dual interface chip housed with a contactless antenna capable of completing purchases throughout official Olympic Venues and compatible readers globally. The gloves will come with embedded prepaid amounts valued at KRW30,000 or KRW50,000.
- Sticker: With a thin and flexible adhesive design and an embedded dual interface NFC-chip and antenna, these micro-tags can be attached to almost anything to make seamless payments in a moment’s notice. The wearable sticker is available in denominations of KRW30,000, KRW50,000, KRW100,000 and KRW200,000. The collection includes 8 distinct designs including Soohorang – the official PyeongChang 2018 mascot – the Korean flag, and much more.
“It is important to me, as a Winter Olympian, to work with a brand like Visa that not only supports a diverse group of athletes, but also enables an enhanced fan experience for those at to The Games,” said Mikaela Shiffrin, USA Olympic gold medalist and Team Visa athlete. “Olympic pins are always the most coveted collectibles, these Visa pins really up the ante.”
Starting November 9, the stickers and pins can be purchased from Lotte Card’s customer centers in Korea and the Lotte Card website. During the Games, all three wearables will also be available for purchase at the Olympic Superstores in conveniently located Visa vending machines.
“Growing up in South Korea, I am proud that my home country is hosting the Games, and is using this opportunity to introduce Visa payment innovations to the rest of the world,” said Park, Seung-Hi, South Korean Olympic Speed Skating and Team Visa athlete. “These payment gloves provide a hassle-free way to pay, even when it’s cold!”
In addition to the wearables and as the exclusive payment partner of the Olympic Games, Visa is facilitating and managing the entire payment system infrastructure and network throughout all venues within the Games. This includes more than 1,000 contactless point-of-sale terminals capable of accepting mobile and wearable payments.
As the payments industry increasingly shifts from plastic to digital, new technology advances from Visa and its partners are bringing consumers a simple and secure purchasing experience. To learn more about Visa and its Olympic sponsorship, visit https://usa.visa.com/about-visa/sponsorships-promotions/olympics-partnership.html.
About Visa Inc.
Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network – enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit usa.visa.com/aboutvisa, visacorporate.tumblr.com and @VisaNews.
[1] Olympic Winter Games PyeongChang 2018 Organizing Committee official website: https://www.pyeongchang2018.com/en/pyeongchang-weather-conditions
