Visa and Lloyds Sponsors Olympic Games Athletes

Published on 1 January 1970 by Raffick Marday

Visa and Lloyds TSB are the official partners with Samsung of the mobile handset which will be give to athletes in the run up to the 2012 Olympic Games.

Lloyds is an issuance partner, enabling contactless transactions through the use of mobile handsets. These Samsung mobile handsets will be given to Visa-sponsored athletes and linked to Lloyds TSB accounts.

In London there are already more than 60,000 locations where contactless payments are accepted and contactless and electronic card payments will be available for the 2012 Games.

With this type of payment, a customer only needs to press the Visa application, press pay and then hold their phone up to the contactless reader – so no card is required. This works for payments up to £15, and anything over this amount will require a PIN.

“Announcing Lloyds TSB as our issuance partner for our athletes continues this momentum as all eyes turn to London in the run up to the Games,” said Sandra Alzetta, head of innovation at Visa Europe.

“The future of payments is changing and Lloyds TSB will be key is transforming the way consumers make purchases, through the launch of mobile payments,” added Mike Regnier, Lloyds TSB director of personal current accounts.

“We are delighted to be working with Visa at such as exciting time.”

Visa Prepaid Cards

For those keen to keep close tabs on their spending, a Visa prepaid card could be a good tool to aid budgeting.

Virgin has a Visa pay as you go card that costs £9.95 to buy, with the option for customers to either pay as they go, or pay monthly.

Transaction fees are 2.95 percent, there are no monthly charges for using the card, ATM fees are charged at 2.95 percent and it is free to 2.75 percent to top up.

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