Visa launches payment wearables for the 2018 Olympics

Visa has created three wearable payment devices for fans and competitors at February’s Winter Olympic Games in South Korea.

Using NFC technology, attendees can use special gloves, commemorative stickers and Olympic pins to make secure payments by tapping on any contactless-enabled terminal.

With temperatures in host county PyeongChang likely to be around -5 degrees Celsius, the gloves will be especially welcome as users will be able to buy goods without exposing their hands to the elements. The gloves will come with embedded prepaid amounts of up to 50,000 won ($46).

The wearable stickers, which can be attached to almost anything, can be bought with up to 200,000 won loaded onto them. All products were made in partnership with Lotte Card, the financial arm of South Korean-based retail giant, Lotte Department Store.

Visa is also managing the Games’ entire payment infrastructure, proving more than 1,000 contactless point-of-sale terminals capable of accepting mobile and wearable payments.