Visa Payment Ring Goes to the Olympics - Card Issuers News


ADVERTISING DISCLOSURE: is an independent, advertising-supported web site. receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » News » Card Issuers » Visa Payment Ring Goes to the Olympics

Visa Payment Ring Goes to the Olympics

The content is accurate at the time of publication and is subject to change.

In keeping with the Olympic spirit in Rio this summer, Visa will be orchestrating an Olympic first of their own by rolling out their new payment ring. The first NFC-enabled, tokenized payment ring will be given out to the forty-five members of Team Visa, who are competing in the Rio 2016 Olympic and Paralympic Games.

Once they slide it on their finger they will be able to make purchases with their ring – all they need to do is tap their ring on an NFC-enabled payment terminal and go, whether they are getting souvenirs, food or a beverage.

The new Visa Payment rings represent a breakthrough in technology, one Visa is excited to bring to the Olympic Games. “Visa’s first payment ring puts smart payment technology right on the hands of our athletes for convenient and easy payments,” said Jim McCarthy, executive vice president of innovation and strategic partnerships at Visa Inc. “This ring is the latest example of how Visa is continuously innovating to deliver on its goal of universal acceptance at the games and across the world.”

The inside track on the Visa Ring

The Visa Ring was designed McLear & Co. and comes along with a security-enhancing microchip by Gemalto, plus there is an embedded NFC-enabled antenna included in its design which lets it make contactless payments.

Will the athletes have to keep an eye on the rings battery pack? No. It doesn’t work on batteries unlike many other wearable payment tech, nor does it need recharging. It is also water resistant and people can take it down to a depth of at least 50 meters.

For Olympic gold medalist Missy Franklin, this means she can wear her ring in the pool and then go buy something without missing a beat. “As an Olympian, rings have a special meaning to me,” said Franklin, a four-time Olympic gold medalist and Team Visa athlete. “The Visa ring is a great innovation that I know all the athletes competing in Rio will enjoy as it will be great to go from a competition to purchase without having to carry a wallet or card.”

Its all about the tokens

The rings use Visa’s token technology, which means when payments go through, rather than transmit the user’s sensitive financial data, it sends along a token, which makes it harder for cyber thieves to hack users’ accounts.

Visa is the exclusive payment provider at the Rio Games. During the events Team Visa athletes with rings or fans using their credit cards, Visa Checkout or their mobile devices to make payments, they will be able to use their accounts before and during the Olympic games.

Visa will be setting up just about 4,000 NFC-enabled POS terminals for the Olympics, which can be used to make mobile and wearable payments at all the key Olympic venues, the U.S. Olympic Committee’s USA House and Copacabana Megas.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:

Related News:

Visa Digital Payments Go to the Olympics
Visa Digital Payments Go to the Olympics

Posted: May 24, 2016

If you are planning to go to the Olympics in Rio, then you might be happy to know that you will be able to use your Visa card in real time and digitally while you’re there. Continue reading

Upswing in Payment Card Revenue
Upswing in Payment Card Revenue

Posted: May 26, 2016

Visa, UnionPay, MasterCard, JCB, Diners Club/Discover, and American Express credit card brands all have one thing in common – in 2015 they saw an overall 16.1% upswing in revenues from merchants, generating $227.08 billion in purchase… Continue reading

Visa Olympic Lounges
Visa Olympic Lounges

Posted: July 21, 2016

Visa Chase United cardholders can celebrate with Olympic athletes in five Visa VIP Lounges, offering everything from taking part in Olympic Games-themed giveaways to sampling Brazilian food and beverages. Continue reading

Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
Introducing the New Citi Rewards+ Card - the only credit card that automatically rounds up to the nearest 10 points on every purchase - with no cap
For Excellent, Good Credit
Enjoy 70,000 bonus miles after spending $5,000 on purchases in the first 90 days
For Good/Excellent Credit
See Rates & Fees
Perfect credit not required for approval; we may approve you when others won’t
For Fair/Bad Credit
You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!