Jan. 28 , 2010

First contactless Visa card in Canada not linked to a credit card account

TORONTO---RBC Royal Bank is adding another unique payment option to its lineup of Visa prepaid cards. Athletes, coaches and team officials attending the Vancouver 2010 Olympic and Paralympic Winter Games will be able to purchase beverages with a simple wave of the hand by using a special Visa Prepaid Card issued by RBC. The card, shaped like an iconic Coca-Cola contour bottle, uses Visa payWave technology and is the first contactless Visa card in Canada that is not linked to a credit card account. The preloaded cards will provide athletes with unlimited, easy access to Coca-Cola brand beverages at vending machines in official venues for the Vancouver 2010 Olympic and Paralympic Winter Games, including the Olympic and Paralympic Villages in Whistler and Vancouver.

"We know that athletes have enough on their minds during the Games. With the Visa Prepaid Card from RBC, they will have easy and convenient access to beverages whenever they need a drink," said Anne Koski, RBC's head of Card Payment Innovation. "We're excited to be able to offer consumers new payment options, and to provide our athletes with these one-of-a-kind preloaded card fobs that are waved instead of swiped."

As a worldwide sponsor of the Olympic and Paralympic Games, Visa is the only payment card accepted at Olympic and Paralympic venues.

"We are delighted to work with RBC and Coca-Cola to provide Olympic and Paralympic athletes with the speed and convenience of Visa payWave technology at the Games," said Mike Bradley, head of Products, Visa Canada.

In addition to its suite of Visa credit cards, RBC offers consumers and businesses a prepaid Visa gift card that can be used to buy 2010 Winter Games tickets, food and beverages, retail goods and services. The RBC Visa gift cards are available at any RBC branch and the purchaser can preload the cards with funds in any denomination from $25 to $500. The cards are also suitable for everyday purchases or as gifts and are replaceable if lost or stolen. The RBC Visa gift cards currently feature designs profiling RBC Olympians and are offered as part of a limited edition collector set. Once the recipient has spent the money, the gift cards can be kept as souvenirs.

Businesses are also able to purchase RBC Visa gift cards to support their employee and partner incentive programs, consumer promotions or customer rebate programs. For the Games, companies can use the gift cards as an easy and effective way to manage spending and hospitality for their staff or customers.