Enhancing payment with contactless and chip cards The countryside passes quickly as the high-speed bullet train hits its top speed of 300 km/h. Jin-Ho, an up-and-coming executive working in Busan, is traveling to Seoul to give a presentation to a new group of clients. The trip used to take over four hours – now it takes just over two. It’s nearly lunch and he knows that he won’t have time for a bite when he reaches his destination.
He’s not brought much cash for the trip, but that’s not a problem because he has the dual interface contact and contactless chip card from Visa. This card is a multi-application card incorporating e-purse, e-ticketing and digital certificate as well as Visa Smart Debit/Credit. Travelers can pay for drinks and snacks by tapping the contactless card on a dispensing machine equipped inside the train.
With chip technology, cardholders are better protected against fraud as information on the card is encrypted to guard against counterfeiting or ‘skimming’ – a technique where crooks copy card details off a special device called a skimmer.
One of the most technologically literate places on the planet, South Korea is at the forefront of these new technologies and its consumers have enthusiastically endorsed the innovative payment system. Customers and businesses alike across Asia Pacific and the world are ready for new ways to pay. Are you ready?
Personalized photocards Sarah loves her new puppy, Snowy. So much so that she has pictures of snowy on her desk at work, she keeps doggy snacks in her purse and puppy toys at home. And now she even has Snowy on her new Visa card! She is not alone. Visa cardholders can now ‘personalize’ their Visa payment cards with an image of their choice.
In a recent survey*, 93 percent of consumers have said they would like to have a payment card with a personal touch. In Taiwan, Taishin Bank was the first Visa member in Asia Pacific to issue these innovative new Visa cards. Cardholders can personalize the cards with their own photographic images – from family and pets to personal artwork – giving them the ability to design their own Visa credit, debit, prepaid or gift cards.
Shop with confidence With a week to go before Hui Keng begins her journey home, her grandparents are eagerly anticipating her arrival. They haven't seen their granddaughter since she left for university three years before and they want to celebrate her return with a special gift. As they frantically search the Internet, browsing through items that would appeal to a young graduate, they decide upon a sleek new handheld PDA. It's the latest model and not readily available in local department stores.
Her grandparents are not new to the digital age - they have sent emails on their new computer for the past few years, but they are less certain about making payments online. With Verified by Visa, Hui Keng’s grandparents’ minds are at ease.
Introduced in Asia Pacific in 2002, Verified by Visa is Visa's online authentication program that increases protection against unauthorized use of a Visa payment card. In the faceless world of online transactions, safety and security become overriding concerns. Verified by Visa, addresses these concerns by authenticating the identities of all the parties in the transaction.
When cardholders shop at a Verified by Visa-participating online store, they are prompted to enter their password in the same way as they would enter a PIN at an ATM. Cardholders are thus provided a similar level of assurance as they would experience when using their card in a physical store.
Taking advantage of Verified by Visa couldn't be simpler: Just register for your password with your Visa card issuer. Then, when making a purchase, you're asked to enter this password, which adds an extra layer of security. You'll only need to register your card for Verified by Visa once to use it with any participating online merchant.
Wave and pay The queue is long but it moves quickly at Kuala Lumpur’s largest shopping mall. Roshimah, on her lunch break from a nearby retail outlet, quickly scans the deli menu, decides upon a set meal, and then waves her wallet at the payment reader. No cash is necessary, no signature is required, and there is no need for the cashier to see the payment card – simply wave, pay and go.
The world’s first Visa contactless smart card that builds on the global EMV smart card standard, Visa Wave was piloted in Malaysia in May 2004 and rolled out nationwide from February 2005. It is also currently being piloted in Taiwan. Requiring neither a signature nor a handing of the card to a cashier for small transactions, Visa Wave allows consumers a fast and convenient way to make payment within seconds.
