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As technology evolves at an ever-increasing pace, the concept of Visa payment is expanding beyond swiping a card through a point-of-sale reader to a world of new opportunities. Merchants can now take advantage of increased speed and convenience through Visa Contactless —the latest evolution in Visa payment.
Visa Contactless is a form of contactless payment that removes the need to physically swipe or insert a smart card into a payment reader. By simply holding the Visa Contactless card at a close range of 4cm from the reader, the card will be detected. Visa Contactless is a fast and simple way for consumers to make payment. No signature is required and there is no need to hand the card to the cashier – consumers simply wave, pay and go.
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How it works
The Visa Contactless card builds on the existing global EMV smart card standard that is currently being adopted by card issuers and acquirers around the world and in Asia Pacific. Payments are done via Radio Frequency (RF), much like the ‘tap and go’ cards that are increasingly used in mass transit environments. There is an antenna – a thin copper wire inside the Visa Contactless card – that transfers payment information quickly and securely through the RF signal to a reader connected to the merchant’s point-of-sale terminal. | |
| The cardholder's account is charged, and the purchase is processed in the same manner as a swiped transaction. All Visa Contactless Cards also have the standard magnetic stripe, so they also work with traditional card readers. | |
| | |  | Merchant terminal is enabled with contactless technology. |
| | | | |  | Consumer holds card in front of reader and terminal light indicates card has been read. |
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| | |  | Transaction is completed like any card payment. |
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Watch for the following indicator on Visa cards to know if it has the contactless feature:  | |
Benefits
Visa Contactless provides merchants and consumers with a number of benefits.
For your consumers
Requires no signature and no card exchange at the point-of-sale Empowers cardholders with greater convenience, choice and flexibility in paying for goods and services Functions as a 3-in-1 card: Visa Contactless can be used not only as a contactless card at places where the Visa Contactless logo is displayed, but also as a regular Visa card worldwide.
For merchants
Decreased transaction time – Visa Contactless transactions are faster than cash transactions. Greater speed of handling payment helps to reduce queues and enable staff to attend to other customers more quickly Reduction in coin/cash handling By taking advantage of industry-wide standard for smart cards, EMV, acts as a powerful tool against counterfeiting and fraud Enhances customers’ satisfaction with a modern, fast and convenient way to pay. Enhances customers’ satisfaction with a modern, fast and convenient way to pay. Attracts new customers and builds loyalty with an innovation that adds speed and convenience, leading to greater customer spend Delivers competitive advantage to merchants in categories like fast food restaurants where speed and convenience are compelling benefits
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Technical features
Contains a Visa Smart Debit Credit (VSDC) chip and therefore functions as full Visa credit/debit card Builds on the global EMV smart card standard Uses dynamic data authentication (DDA) cryptographic processors, defined in EMV specifications, to authenticate the card Combi card: single chip with dual contact and contactless interfaces, ISO/IEC14443 (A/B)
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Getting started
Simply contact your acquirer for details about getting started with Visa Contactless. | | | |
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