On the heels of its renewal with the International Olympic Committee through 2032, Visa (NYSE:V), the International Olympic Committee (IOC) and the International Paralympic Committee (IPC) today announced a commitment to enhancing the experience for fans of the Olympic and Paralympic Games around the world.
Using its global network of 11 Innovation Centers - from Asia to Europe and the United States - Visa is tapping into its transit, retail and conversational commerce expertise to propose forward-looking payment experiences for Olympic Games fans. This includes remote, mobile ticket purchasing, in-seat ordering and new ways to pay at retail such as making a purchase right from your television. Fans can look forward to a future with a faster, and enhanced Olympic experience whether watching in-person or from home.
“There has been no better payment technology partner historically and there is no better payment technology partner for the future we are building together,” said President Thomas Bach, International Olympic Committee. “As we introduce innovations that help improve fan experiences both on-site and at-home, we know that no matter where in the world the Olympics take us, Visa is the right partner to help us deliver them.”
For more than 30 years, Visa has been the exclusive payment sponsor of the Olympic Games. The company has continually used that global stage to introduce and implement new payment technologies. Moving forward under the renewed partnership, together Visa and the IOC will tap into the network of resident designers and developers within Visa’s Innovation Centers around the world to continue this important innovation.
This vision was brought to life today at a media event in Beijing, where Visa shared the blueprints for three Olympic Games-inspired payment moments. The innovative moments were conceived and designed in Visa’s Innovation Centers. They include dynamic new imaginings of remote digital ticket purchase, biometric authentication for stadium entry, smarter and streamlined retail shopping, and in-home couch commerce using augmented reality.
“Our Global Innovation Centers are immersed in solving every day consumer challenges and discovering improved commerce experiences, that can be shared and scaled globally,” said Ryan McInerney, President of Visa, on stage at the Beijing event. “Planning for the upcoming Olympic Games helps Visa develop industry leading payments solutions that will redefine fan experiences and leave a legacy of improved digital commerce everywhere.”