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Industry News

Visa introduces payment wearables for fans at Pyeongchang 2018

Payment services company Visa has introduced wearable payment devices for fans attending next year’s winter Olympic and Paralympic Games in Pyeongchang, South Korea.

Visa is the exclusive payment technology partner of the Games and has launched the NFC-enabled gloves to allow spectators to complete seamless payments with one tap at any contactless-enabled terminal.

Visa has worked with Lotte Card, the financial arm of Korea-based retail giant Lotte Department Store, on the venture, which also includes the creation of commemorative stickers and Olympic pins.

“We are looking forward to transforming the payment experience for everyone who attends the upcoming Olympic Winter Games in Pyeongchang,” Iain Jamieson, Korea country manager at Visa, said.

“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.”

With the average temperature in Pyeongchang set to be -4.8 degrees Celsius during the Games, the gloves are designed to provide fans with a seamless payment experience that will not require the use of bare hands. The gloves will contain a dual interface chip that will house a contactless antenna. They will be embedded with prepaid amounts valued at KRW30,000 (£20/€23/$27) or KRW50,000.

The commemorative pin will also provide a payment-enabled collectable for fans and athletes during the Games. Each pin will cost KRW5,000, plus desired embedded prepaid amounts valued at KRW30,000 or KRW50,000.

The sticker will feature a thin and flexible adhesive design and an embedded dual interface NFC chip and antenna. The wearable sticker is available in denominations of KRW30,000, KRW50,000, KRW100,000 and KRW200,000. The stickers will feature eight distinct designs including Pyeongchang 2018 mascot Soohorang.

The stickers and pins can be purchased from Lotte Card’s customer centres in Korea and through the Lotte Card website, as well as in Olympic superstores.

The Pyeongchang winter Olympics are due to run from February 9-25, with the Paralympics to follow from March 9-18.

Image: Republic of Korea