Bank of America, the Official Bank Sponsor of the 2008 U.S. Olympic Team, and Visa, Official Payment Services Brand of the U.S. Olympic Team, today announced the return of a Visa-branded prepaid card that will enhance the Olympic experience of all U.S. athletes and United States Olympic Committee (USOC) staff members participating in the Beijing 2008 Olympic and Paralympic Games.
The prepaid card, featuring the image of a U.S. flag as well as the Olympic rings, will be used by each athlete and staff member for their daily per diem at the Olympic and Paralympic Games.
As a better alternative to cash and checks, the U.S. Olympic Team prepaid card will offer America's athletes immediate access to their funds throughout Beijing and at tens of millions of locations worldwide. And unlike cash, Visa prepaid cards are protected by Bank of America's and Visa's Zero Liability policy in the event of loss or theft.
"Visa prepaid cards continue to gain popularity as cardholders demand more choice and flexibility in how they pay and want to be paid," said Antonio Lucio, chief marketing officer of Visa Inc. "By providing a more convenient and secure way to pay, Visa prepaid cards will help simplify one critical aspect of the U.S. Olympic and Paralympic Team's journey, so they can focus on what's most important."
Bank of America, a U.S. Olympic Team sponsor since 1992, is the exclusive issuer of the Visa prepaid card for the second time, which is being offered to the entire USOC delegation for the Olympic and Paralympic Games including more than 800 American athletes.
"We're thrilled to offer this card to the U.S. Olympic and Paralympic Team," said Anne Saunders, Brand and Marketing executive, Bank of America.
"The athletes now have the flexibility to purchase what they want, where they want. The U.S. Olympic Team prepaid card will allow them to dine, purchase souvenirs and enjoy the Olympic and Paralympic experience with one, easy-to- use funds access solution."
The cards will help reduce administrative and processing expenses for the USOC as they equip America's Team to compete on the world's biggest stage.
"The United States Olympic Committee is pleased to work with Visa and Bank of America to provide the U.S. delegation of athletes, coaches and staff with a tool that will simplify all their financial transactions and needs during the Olympic and Paralympic Games," said Jim Scherr, USOC Chief Executive Officer. "These easy-to-use cards provide tremendous advantages.
We are delighted that U.S. Team Olympic sponsors, Visa and Bank of America, have come together to provide these cards to athletes and operational staff during this exciting and busy time."