Visa Inc. recently held a two-day Team Visa Summit and innovation showcase at its San Francisco headquarters where some Olympic and Paralympic athletes were given a preview of Visa’s future payment technology applications including biometric payment options and wearables.
Visa demonstrated a proof of concept for a NFC chip-embedded wristband that would enable users to make purchases at concessions as well as grant them entry into the venue, according to a report by Forbes. The wristband would require users to register through Visa’s website in which they would select a username, password and payment information. Once fully registered, the wristband would serve as a mobile ticket and credit card.
Visa also showcased other authentication concepts, such as a biometric device capable of reading fingerprints from a hand swipe. The device requires users to register with their fingerprint and credit card data.
As a lead sponsor of the Rio 2016 Olympic Games, Visa will be promoting its new payment services including Visa Checkout with tokenization technology, which launched this past spring.
Previously reported, Visa is set to introduce a new specification option which integrates palm, voice, iris, or facial authentication capabilities with chip card transaction.
