News

Visa Goes For Gold With NFC Wristbands At The Olympics

Visa is exploring potential payment options for next year’s Summer Olympics in Rio de Janeiro, Brazil, which includes NFC chip-embedded wristbands.

The payments giant released proof of concept photos last week of the wearable device, which could allow patrons to purchase concessions and gain venue access, Forbes reported.

Theoretically, attendees would be able to register the wristband on Visa’s site by entering a username, password and payment information and then proceed with using the wristband as a mobile ticket and credit card.

“It moves from this traditional eCommerce, mobile commerce to then using that same technology transferred into wearables,” Visa Head of Merchant Digital Solutions Amy Dawson told Forbes. Dawson said the goal is to make transactions at concessions stands and entry points as quick as possible.

It seems Visa is on a roll with supporting contactless payments for patrons of major events, making a recent appearance at London Fashion Week.

In a partnership with designer Henry Holland, Visa promoted NFC technology in tandem with “Visa Europe Collab” during the global fashion event last week, Gizmodo reported.

But this seems to be no ordinary advertising.

As the site noted, 10 VIPs, who appeared at the catwalk show titled “House of Holland” on Sept. 19, were given rings that held built-in NFC payment cards. Those cards were also loaded with £500. And those rings enabled the wearers to approach models from the show and touch their rings against what the promotion termed “beautifully designed” receiver tags.

Then, the receivers connected to a payments system through Bluetooth, made the transaction and the receiver ultimately lit up to ensure the VIP that payment had in fact gone through. Finally, purchases were ready for those consumers backstage, bagged and ready to go, said Gizmodo.

To check out what else is HOT in the world of payments, click here.

——————————–

Latest Insights: 

Our data and analytics team has developed a number of creative methodologies and frameworks that measure and benchmark the innovation that’s reshaping the payments and commerce ecosystem. Check out the February 2019 PYMNTS Financial Invisibles Report

TRENDING RIGHT NOW

To Top