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Visa’s tap-and-pay goes the Olympic distance

It won’t just be the athletes of the XXIII Winter Olympic Games and Paralympic Games using the latest technology as they skate, ski, slide, leap and twirl their way to glory this Feb. 9-25 in PyeongChang county, South Korea.

Spectators and athletes alike will be able to make payments with a simple tap of a terminal with
one of three wearable payment devices: gloves specially suited to PyeongChang’s sub-zero weather, as well as Olympic pins and stickers. The items allow users to complete seamless and secure payments with a simple tap at any contactless-enabled terminal, Visa Inc. announced in a media release last November. The gloves contain a dual interface chip housed with a contactless antenna and are embedded with prepaid South Korean Wons equivalent to $35 or $50. This payment method ensures that users can make a purchase throughout official Olympic venues without risking cold hands by taking their gloves off.

The pins were inspired by the venerable tradition of Olympic Games pin trading and collecting. Visa is offering four unique official PyeongChang Olympics 2018 lapel pins that also contain embedded prepaid amounts.

The wearable stickers, which come in eight distinct designs, feature a thin and exible adhesive with an embedded dual interface containing a near-field communication (NFC) chip and antenna that can be attached to virtually anything for seamless payments. They will be available in a variety of denominations valued from $35 to $235.

Visa, which is the exclusive payment technology partner at the games, teamed up with Lotte Card, the financial arm of South Korean-based retail giant, Lotte Department Store, to create the NFC-enabled payment devices. ◊