Overview of Visa payWave
Visa payWave is already being used in several countries across Europe. There are also over seven million cards being used across USA and Asia.
It’s ideal for any situation where lots of customers are making plenty of low-value payments – such as fast food outlets, supermarkets, convenience stores, pubs and bars, newsagents, buses and parking machines.
Transactions are made using a specially adapted Visa debit or credit card. A tiny antenna is embedded in the card, which communicates with the payment terminal, and completes a payment in less than a second.
Visa payWave is intended for low value payments, typically less than €15 (or £10 in the UK). For higher value purchases – or occasional security checks – a normal chip and PIN transaction is automatically initiated.
Visa payWave is set to become a standard feature on a standard Visa debit or credit card (such as Visa Electron, Visa Classic, Visa Gold, Visa Platinum, Visa Infinite or V PAY). These cards look and work just like a conventional Visa card, but have a new ‘wave’ mark to show they can also be used for Visa payWave transactions.
Retail locations that accept Visa payWave payments will display the ‘wave’ mark together with the standard Visa Brand mark.
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