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Industry News

Visa launches 3 new prepaid cards for 2010 Vancouver Olympic Games

By Lauren Lindberg

19/11/2009 - Visa has expanded its promotional campaign for the 2010 Vancouver Olympic and Paralympic Games with the announcement this week of three new Olympic-themed prepaid cards, creating an extra incentive for merchants to add Visa credit card processing to their Olympic Game preparation.

The company reported that the cards - available in denominations of $25, $50 and $100 - will be available in 1,500 Canada Post retail locations starting this month, and will be issued through Citizens Bank of Canada.

Visa announced in late October that it renewed its title of official credit card sponsor of the Olympic Games through 2020, a position it has held since 1986. With this, the company has unveiled a new marketing campaign, called Go World, encouraging people to use their Visa cards before and during the 2010 Winter Olympic Games in Vancouver.

The release of a prepaid card is a wise move on Visa's part, as it opens up credit card processing to those without a bank account or access to credit, a group known as the unbanked. A recent report from the Financial Access Initiative found that there are 2.5 billion adults worldwide that are considered unbanked.ADNFCR-2514-ID-19469808-ADNFCR

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