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Marketing and Sponsorship

Olympics Sponsors Swatch, Visa To Introduce Payment System Ahead Of Rio Games

Scheduled to be released early in '16 -- initially in the U.S., Switzerland and Brazil -- the Swatch Bellamy watch "will allow the wearer to make contactless purchases worldwide," according to Syl Tang of the FINANCIAL TIMES. Swatch and Visa "are sponsors of this summer’s Rio Olympics and plan to introduce functions for the Bellamy that can be used by wearers" during the Games -- for example, by allowing users to pay for event passes. With an increasing number of electronic devices being used to make payments, the forthcoming launch of the Bellamy watch puts Swatch "in competition with the likes of Apple Pay, Android Pay and Samsung Pay." Although Swatch declined to give additional information, Visa said that, under the partnership, Swatch "will run a secure site for buyers of the watch, who will use it to preload credit on to the device." Visa’s deal with Swatch "is not an exclusive partnership, giving the payments technology company the potential to have similar agreements with a range of watch brands" (FT, 1/17).

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