19 Oct 2018
With the Olympic Games Tokyo 2020 less than two years out and following its renewal with the International Olympic Committee (IOC) through 2032, Worldwide TOP Partner Visa is committed to using its global network of Innovation Centres to bring improved and integrated payments for Olympic and Paralympic Games fans on-site and at home.
Using its global network of 11 Innovation Centres – 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 in 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 IOC President Thomas Bach. “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 Olympic Games take us, Visa is the right partner to help us deliver them.”
For more than 30 years, Visa has been the exclusive payment partner 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 at Visa’s Innovation Centres around the world to continue this important innovation.
How will the fans of the future consume the Games?
This vision was brought to life 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 Centres. 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 Centres 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. “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.”
Visa’s Everywhere Initiative in Japan
This event follows a challenge Visa organised in Japan, calling on start-ups to bring cutting-edge payment innovations to the Olympic Games Tokyo 2020, and in doing so reinforcing the Japanese government’s goal to double the cashless payment ratio to 40 per cent by 2025. Of more than 80 submissions, nine finalists were selected to face three challenges, and three awards were delivered for the best ideas.
Find out more about Visa’s Everywhere Initiative in Japan:
Visa and the Olympic Games
Visa International has been a Worldwide Olympic Partner since 1986, when the company joined the TOP Programme as a charter member. Visa is the world's leading payment brand, generating more than USD three trillion in annual card sales volume. Visa has unsurpassed acceptance in more than 150 countries, and plays a pivotal role in developing innovative payment products and technologies to benefit its 21,000 member financial institutions and their cardholders.
Visa is a leader in internet-based payments, and is pioneering the creation of u-commerce, or universal commerce – the ability to conduct commerce anywhere, anytime, and any way.
To learn more about Visa and its Olympic Games sponsorship, visit https://usa.visa.com/about-visa/sponsorships-promotions/olympics-partnership.html.