Visa and the International Paralympic Committee have extended their agreement ©IPC

The International Paralympic Committee (IPC) has extended its partnership with finance giant Visa until at least 2020.

It means a deal first signed in 2003 will now continue to take in the Tokyo 2020 Summer Games.

Visa was already the longest-serving Worldwide Paralympic Partner of the IPC with the news an early boost for the organisation's new Brazilian President Andrew Parsons, who was elected in September.

"It is fantastic news for the IPC and the whole of the Paralympic Movement that Visa has extended its partnership until at least 2020," said Parsons, who replaced Sir Philip Craven as President after the Briton reached his term limit.

"Visa was the first global sponsor of the IPC and Paralympic Games and over the years they have continually increased their support of the Paralympic Movement and leading Para-athletes.

"We greatly value our partnership with Visa and are very excited about the joint digital media campaigns that we will be running between now and 2020."

Visa has supported Paralympic sport since 2003, including initiatives such as the Hall of Fame ©Getty Images
Visa has supported Paralympic sport since 2003, including initiatives such as the Hall of Fame ©Getty Images

As part of the agreement, Visa enjoys exclusive marketing and promotional rights within the IPC's payment services category, and activation opportunities for financial institution clients and merchants throughout the world.

Visa is the only card accepted at all Paralympic venues when purchasing tickets, merchandise, food or drink.

"The Paralympic athletes embody our shared value of acceptance, and the Paralympic Games provide them a stage to share their achievements in a true celebration of life that will inspire fans everywhere to reach their own potential," said Chris Curtin, the chief marketing innovation and brand officer at Visa.

"We're proud to provide this support and wish for a successful hosting of the Pyeongchang 2018 Paralympic Winter Games and success of Paralympic athletes." 

Visa is also a member of the International Olympic Committee's top-tier The Olympic Partner sponsorship programme.

The other worldwide partners of the IPC are Atos, Ottobock, Panasonic, Samsung and Toyota.