Monday, November 20, 2017 | Today's Vending Industry News
Visa Payment Wearables For 2018 Olympic Winter Games Will Be Sold Through Vending Machines

Posted On: 11/10/2017

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SAN FRANCISCO -- Visa, the exclusive payment technology partner at the 2018 Olympic and Paralympic Games, has created NFC-enabled gloves, commemorative stickers and Olympic pins that allow fans and athletes to simply tap to pay at any contactless-enabled terminal.

During the Games, taking place in PyeongChang, South Korea, all three wearables will be available for purchase in Visa vending machines and at the Olympic “superstores.”

Visa teamed up with Lotte Card, the financial arm of South Korean-based retail giant Lotte Department Store, to produce the new prepaid payment wearables available for purchase in from Lotte Card’s customer centers in Korea and its website, as of Nov. 9.

The commemorative pins are inspired by a longstanding tradition at the Olympic Games. Visa’s four unique lapel pins feature custom PyeongChang 2018 designs to offer a payment-enabled collectable. The cost per pin is $5, along with desired embedded prepaid amounts in Korean currency valued at around $25 or $50.

With the average temperature in in PyeongChang expected to be 23°F., the high-tech gloves will provide fans a way to pay while keeping their hands warm. They 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 $25 or $50.

With a thin and flexible adhesive design and an embedded dual interface NFC-chip and antenna, Visa’s wearable stickers can be attached to almost anything to make seamless payments. They are available in Korean currency in denominations equivalent to $25, $50, $100 and $200. The collection includes eight distinct designs including Soohorang, the official PyeongChang 2018 mascot and the Korean flag.

In addition to the wearables, Visa is facilitating and managing the entire payment system infrastructure and network throughout all venues within the Olympic games. This includes more than 1,000 contactless point-of-sale terminals capable of accepting mobile and wearable payments.

“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.”