No Visa Problems: Credit Card Company Re-Ups With IOC Through '20
By Tripp Mickle, Staff Writer, SportsBusiness Journal
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Visa Extends TOP Sponsorship
With IOC Through '20 |
Longtime Olympic TOP sponsor Visa today in Moscow announced an extension of its partnership with the IOC through '20. The deal enables Visa to retain its rights as the exclusive payment services sponsor of the Olympics, a category it has held since '86. It also gives it the rights to the '14 Sochi Games, '16 Rio de Janeiro Games, and the '18 and '20 Games. A Visa release said that the new contract will enable the company to deliver additional benefits to clients and their cardholders with expanded POS presence, exclusive acceptance programs for Olympic-related transactions and increased access to unique experiences for Visa clients to offer to their customers through Visa marketing programs. As a worldwide Olympic partner, Visa also keeps exclusive category rights with all 205 National Olympic Committees and their Olympic teams. The deal highlights the IOC's ongoing effort to sign as many long-term deals as possible. Visa joins Omega and Coca-Cola in committing through '20; Atos Origin, Panasonic and Samsung are committed through '16. The renewal announcement was made in Moscow at a contract-signing ceremony attended by Visa Inc. Group President Rupert Keeley, IOC President Jacques Rogge, IOC Dir of TV and Marketing Services Timo Lumme, Sochi 2014 CEO Dmitry Chernyshenko, Visa CMO Antonio Lucio and Visa Head of Global Sponsorship Management Michael Lynch.
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