• Overview of Visa payWave

• Benefits for merchants

• Participate in the London launch

• Frequently asked questions

• Start accepting Visa payWave

Visa payWave

Visa payWave has been developed by Visa as a cash replacement solution.

The European Payments Council estimates that in 2004, 85 per cent of payments across the European Union were made with cash – and around 80 per cent of these cash payments were for purchases of less than €15 (or £10 in the UK).

Visa payWave is directly aimed at replacing these low value cash payments.

The cardholder simply ‘waves’ their card a few centimeters from a card-reader, and the transaction is completed in less than a second. It’s fast, secure and cost-effective – enabling retailers to speed up service and cut down on the costs of cash.

Speed, convenience and innovation

Visa payWave is ideal for merchants that handle large numbers of low value payments - such as fast food restaurants, supermarkets, convenience stores, cafés, newsagents, buses, trains and parking machines.

In these environments, speed and convenience are a real priority – for merchants and cardholders alike.

With Visa payWave, you can benefit from a much faster service, shorter queues, and lower cash handling costs – while, at the same time, offering your customers the convenience of an innovative new payment solution.

Arriving very soon

The advantage of Visa payWave is that it can be issued to many cardholders very quickly and cost-effectively.

It runs on the existing payment card infrastructure, which means that:

• Banks can load the Visa payWave onto a standard EMV chip card
• Merchants can easily update their EMV payment terminals with a simple software upgrade and separate ‘contactless’ card reader