Visa unveils tech innovations for Olympics

Financial services company Visa has detailed a range of initiatives that will seek to enhance the fan experience at future editions of the Olympic and Paralympic Games.

Visa is a long-time, top-tier sponsor of the International Olympic Committee (IOC), and earlier this year the two parties extended their partnership through to 2032. Visa is also a partner of the International Paralympic Committee (IPC).

Visa will use its transit, retail and conversational commerce expertise to propose forward-looking payment experiences for spectators at upcoming Games, with plans to include remote, mobile ticket purchasing, in-seat ordering and new ways to pay at retail, such as purchasing through your television.

IOC president Thomas Bach said: “There has been no better payment technology partner historically and there is no better payment technology partner for the future we are building together. 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.”

Visa has been the exclusive payment sponsor of the Olympics for more than 30 years. Visa and the IOC will continue to draw on the network of resident designers and developers within the company’s 11 Global Innovation Centres.

Visa shared the blueprints for three Games-inspired payment moments during a media event in Beijing, the host of the 2022 winter Olympics. The moments were conceived and designed in Visa’s Innovation Centres and include imaginings of remote digital ticket purchase, biometric authentication for stadium entry, smarter and streamlined retail shopping, and in-home couch commerce which uses augmented reality.

Speaking during the event, Visa president Ryan McInerney said: “Our Global Innovation Centres are immersed in solving every day consumer challenges and discovering improved commerce experiences, that can be shared and scaled globally. 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.”

Image: Business Wire