Visa, the world's largest credit card payment system, signed strategic Olympic alliance Tuesday with the Bank of China in a bid to boost their business through the 2008 Olympic Games in Beijing.

According to the agreement, both parties will strengthen cooperation in areas like onsite ATMs and POS machines, Olympic ticket sales, online sales of Olympic official licensed products, and development of new Olympic-themed products.

As a TOP (Olympic Partner Program) Partner of the International Olympic Committee, Visa has been the only official electronic payment brand and payment service provider of the Olympics since 1986.

As the banking partner of the Beijing 2008 Olympic Games, the Bank of China will be the only licensed bank providing commercial banking and investment banking services, as well as financial products.