Bank of America and Visa create pre-paid card for US Olympians

Source: Bank of America

Bank of America, the Official Bank Sponsor of the 2006 U.S. Olympic Team, and Visa, proud sponsor of the United States Olympic Team, today announced the creation of a prepaid card that will enhance the Olympic experience of all U.S. athletes and USOC staff members participating in the 2006 Torino Olympic and Paralympic Winter Games.

The prepaid card, featuring the image of a flag bearing the U.S. Olympic Rings, will be used by each athlete and staff member for their daily per diem at the 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 Torino and at tens of millions of locations worldwide. And unlike cash, they are protected by Visa's Zero Liability policy in the event of loss or theft.

"Visa prepaid cards continue to gain in popularity as cardholders demand more choice and flexibility in how they pay and want to be paid," said Susanne Lyons, chief marketing officer, Visa. "By providing a more convenient and secure way to pay, Visa prepaid cards will help simplify one critical aspect of the U.S. Olympic 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 which is being offered to America's entire field of athletes and USOC delegates for the first time.

"We're thrilled to offer this card to the U.S. Olympic Team," said Rick Parsons, executive vice president of brand marketing, Bank of America. "The athletes now have the flexibility to purchase what they want, where they want. The US Olympic Team prepaid card will allow them to dine, purchase souvenirs and enjoy the Olympic 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 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 Winter Games," said Jim Scherr, USOC chief executive. "These easy-to-use cards provide tremendous advantages. We are thrilled U.S. Team Olympic sponsors, Visa and Bank of America, have come together to provide these cards to athletes and operational staff during a busy time."

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