The bracelet uses Near Field Communications (NFC) technology to enable transactions. All 4,000 point-of-sale terminals at Olympic venues will be equipped to work with NFC.
As well as the new bracelet, Visa is also introducing another NFC device at Rio, a payment ring backed by a Visa account. The ring will be given to all of the 45 athletes sponsored by the company at the Games. It does not require use of a battery or recharging and is also water resistant to a depth of 50 metres, so Visa-sponsored Olympic champion Missy Franklin can go from the pool to payment all with the tap of her ring.