You are here: Home » News-IANS ยป Sports
Business Standard

Rings, bracelets, watches, cell phones - myriad ways of paying at Rio Olympics

IANS  |  Miami 

The 2016 Rio Olympics will not only go down in history for athletic triumphs, but also in terms of making electronic payments through a "contactless" technology with no need for a credit card.

The grand sports event that kicks off August 5 in Rio will be the first in history where payment can be made with special rings, watches and bracelets or just with mobile phones, reports Efe.testing.. we are here....

Visa, the sponsor of the Olympic Games for the past 30 years, will debut in the Brazilian city its line of "wearables", a step forward in its mission of making payment devices increasingly safe and simple.

Adrian Farina, marketing vice president of the company for Latin America and the Caribbean, said the company's relation with the Olympic Games isn't just "sticking its logo from one side to the other", but something more serious that "reflects its corporate DNA".

"It's our oldest sponsorship and one that fills us with pride because of what the Olympics mean," Farina said at the company's regional office here on Tuesday.

The values and ideals of the modern Olympic movement are shared by Visa, a universal company based on inclusion. "It's an association that is truly in line with the company's DNA," he said.

Asked about pessimists who predict problems at the Rio Olympics, the first to be held in South America, he promptly replied: "The latest games are always the best".

Visa sponsored the 2014 World Cup in Brazil and believes that, despite any difficulties, these Olympics will be a great success.

By virtue of an agreement signed by Visa and the International Olympic Committee in 1986, Visa is the official means of payment at the Olympics and Paralympics.

From the electronic payments point of view, Rio de Janeiro in 2016 will be the "contactless" kingdom, which means that users won't even need to carry their credit card with them.

Farina said the Olympic Village already has 4,000 payment terminals installed that will allow Visa cardholders to pay either in the traditional way or with any of the new devices.

Farina insisted that Visa does not see its sponsorship as just a way to display its logo and brand name next to the Olympics logo but as the means of taking an active part in this spectacular international sporting event.



Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, August 03 2016. 16:26 IST

Notice: Undefined property: stdClass::$contentSourceOptions in /usr2/unibs/application/modules/article/controllers/ManagerController.php on line 1449