Visa payment ring introduced
Visa will provide a payment ring backed by a Visa account to all Team Visa athletes at the 2016 Olympic Games.
The Visa payment ring is NFC-enabled, allowing athletes to make purchases by tapping their ring at any NFC-capable payment terminal.
The ring uses the NFC Ring design of McLear & Co, which includes a secure microchip made by Gemalto with an embedded NFC-enabled antenna, enabling contact-less payment capabilities.
The ring does not require a battery, and is water resistant to 50 metres.
Visa also demonstrated a prototype version of the ring which uses token technology.
Visa’s token technology replaces sensitive payment information, such as the 16-digit account number, with a unique digital identifier that can be used to process payments without exposing account details.
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