Visa is trialing its new payment ring with Olympic athletes in Rio

Visa has secured the Olympic venue as the only card to be accepted at the event. Good for them! Visa is also holding a trial with employees, partners, and Olympic athletes alike with its newest payment system ring which only requires the user to wave their ring over the terminal and the transaction will be completed.

No batteries, passwords, or screen is required to use the ring. The payment ring also comes with its own card in cases where the ring is not accepted.

In case you were wondering, the payment ring can also be deactivated from an accompanying smartphone app.

The ring does not need any batteries because it is actually powered by the terminal. The terminal supplies just enough power to the ring for the terminal to complete the transaction with the embedded chip that is in the ring.

The ring was inspired by Olympians who shared that reaching for a wallet can be a major problem when you are constantly changing in and out of uniform. The payment ring was designed to help Olympians incorporate an easier way to pay for the busiest athletes all around the world.

Source | Via