The FINANCIAL — Visa and Bradesco introduced the Pulseira Bradesco Visa, the first payment wearable by the two companies for the Brazilian market that is being piloted in advance of the Rio 2016 Olympic Games. The new product, which will be universally accepted at Rio 2016, is an innovation in contactless payments powered by Near Field Communication (NFC) technology that combines technology, fashion and sports, the to improve consumers’ shopping experience.
The Pulseira Bradesco Visa is one of the new payment form factors that will offered in Rio, giving select fans and attendees the chance to swipe, tap, dip or click when paying at the games. The wearable band is exclusively available in Brasil, where it will be e accepted by over one million electronic NFC-enabled readers, which allow information exchange between devices through proximity. During the Rio 2016 Olympic Games, all of the four thousand POS terminals deployed at the Olympic Park will feature the technology.
“Brazil is one of our top markets in the world, especially because it is a country that welcomes innovations. Consumers, who are becoming increasingly demanding, are always on the lookout for innovations, convenience and things that fit in with and facilitate their day-to-day. The Bradesco Visa Bracelet fits this bill by transforming the user experience and simplifying payments,” explains Percival Jatoba, Vice President of Products at Visa Brazil. “As one of the global leaders in payment technology, we are collaborating with players in our industry and developers to offer a future where different devices found in people’s daily lives are able to conduct financial transactions conveniently, quickly and securely,” he says.
In order to enhance the user experience, an companion app allows customers to monitor their transaction history, view their account balance, block the device in the event of theft or loss, and top up their balance on the accompanying prepaid card. Relying on the security and reliability of Visa’s processing platform, payments made by a wearable are protected by the same standard terms and conditions applied to cards.
“Technology has often evolved and our challenge is to meet the expectations of our customers. Incorporate electronic payment to clothing with the adoption of the wearable technology is aligned with Bradesco Cartões’ strategy to offer the most modern things to our customers”, says Cesário Nakamura, Bradesco Cartões Director.
Easy to use, just put on a Bradesco Visa Bracelet and place it close to a merchant’s contactless payment POS to make a purchase. To facilitate the experience, purchases below BRL 50 (equivalent of approximately 14 US Dollars) won’t require the use of a PIN.
Pulseira Bradesco Visa is resistant to sweat and water, including salt water. “Those who enjoy exercising, nightlife and participating in sports events will vouch for the functionality of this new payment method,” says Martha Krawczyk, Vice President of Marketing at Visa Brazil.
Visa Inc. (NYSE:V) is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable electronic payments.
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