Gold Medalist Kicks Off Cashless Olympics for Visa

It’s more likely that Sir Steven Redgrave, who won gold medals for Britain in five straight Olympic games, will be remembered for his accomplishments as a rower. But if the 2012 Olympic Games go the way Visa wants them too — off the field, that is — he could become the answer to a popular trivia question.

That question: Who was the first person to conduct a contactless transaction at the London Games?

Redgrave made his notable purchase at London’s Olympics megastore in Hyde Park, the Telegraph reports, an action representative of the first time in 26 years of sponsorship that Visa will be using its status as a major Olympic sponsor to promote a new product.

Well, it’s more of a service than a product really — Visa is using the games to promote adoption of its NFC-powered digital wallet platform. Redgrave is one of roughly 1,000 recipients of the Samsung Galaxy S3 smartphone, the physical product being used to promote Visa contactless in London this summer. Deemed the “Official Phone” of the 2012 Games, the Galaxy S3 can utilize Visa’s mobile payment platform to complete transactions up to £20 in value.