When we think about technological breakthroughs, we think about life changers.
The wheel. The light bulb. The Internet.
Such breakthroughs are often achieved by understanding our existing way of life & finding ways to make things faster and easier.
By making the checkout experience more efficient, Visa payWave is an innovation that has rapidly changed the way we make purchases at the checkout.
It has left us scratching our heads, wondering, “When did that happen?”
Visa payWave at the checkout
Using Near Field Communication (NFC) technology, Visa payWave allows cardholders to simply wave their card in front of a reader, rather than inserting or swiping, waiting for the prompts and banging on the keypad.
If the purchase amount is under $100, the cardholder does not even need to use their PIN number.
Because this new technology doesn’t require the customer to significantly change their behaviour, it has been widely adopted.
With over 75 million transactions as recently as January this year, Visa payWave is up to 7 times faster than traditional chip and PIN transactions.
In addition, Visa are working hard to make payWave as secure as possible. The Visa Zero Liability Promise, low transaction value, built-in encryption technology, short read range and constant transaction monitoring combine to make Visa payWave a convenient and secure way to pay.