Bangkok--31 Jan--TQPR A new wave of payment As technology evolves at an ever-increasing pace, the concept of Visa payment is expanding beyond swiping or dipping a card though a point-of-sale reader to a world of new opportunities. The proliferation of smart devices and the widespread availability of wireless connectivity technology have paved the way for a new wave of payment, one that enables secure transactions and value-add services on the move. By leveraging the latest chip and wireless technologies, Visa has created Visa payWave. What is Visa payWave? Visa payWave 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 payWave card at a close range of 4 cm from the reader, the card will be detected and the transaction made. Visa payWave is a fast and simple way for consumers to make payment. Visa payWave merchants are able to accept payments in as little as four to six seconds, including the printing of the receipt. This compares favorably with cash payments, which typically take between twelve and fourteen seconds, from handover to handback. No signature is required and there is no need to even hand the card to the cashier — consumers simply wave, pay and go. The Visa payWave 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 made via Radio Frequency (RF), much like the ‘tap and go’ cards that Thai consumers are already familiar with from the mass rapid train systems. There is an antenna — a thin copper wire inside the Visa payWave 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 Benefits For Consumers — Requires no signature and no card exchange at the point-of-sale — Empowers cardholders with a convenient and flexible payment option for goods and services — Functions as a 3-in-1 card: Visa payWave can be used not only as a contactless card at places where the Visa brand mark and contactless indicator is displayed, but also as a regular Visa card which is accepted around the world. — Ninety-two percent of Watsons customers who used the Chinatrust Commercial Bank-Watsons co-branded card said they would use it again, citing convenience, speed and novelty of the Visa contactless technology feature as main reasons why they liked and would continue using the card. For Merchants — Provides greater speed of handling payment, allowing staff to attend to other customers more quickly. Cashiers at Watsons indicated Visa’s contactless technology was convenient for them as they did not need to process cash or card and only needed to hand back receipts to customers. Similarly feedback from Malaysia was that the absence of signature and the need to rummage for change delivered a faster and more convenient experience. — By leveraging the industry-wide standard for smart cards, EMV, acts as a powerful tool against counterfeit fraud. — Is expected to enhance customer satisfaction with a modern, fast and convenient way to pay, to help bring about greater customer spend and loyalty. — Watsons indicated that their co-branded card equipped with Visa’s contactless technology garnered an average individual transaction amount of US$28, almost three times that of the average Watsons individual transaction which was about US$10. For Financial Institutions — Enhances their offering to their customers — cardholders and merchants alike — with a new, fast, smart and convenient way to complete a transaction — According to Chinatrust Commercial Bank , cardholders using cards with Visa contactless technology spent an average of 53 percent more than cardholders that were not. — Grants access to new merchant categories — e.g. quick service restaurants and other ‘low ticket’ merchant segments that have previously only accepted cash for payment — Leverages the full benefits of EMV global smart card technology 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 a dynamic cryptogram to uniquely identify and secure every transaction using EMV card authentication standards (dynamic data authentication or DDA) — Combi card: single chip with dual contact and contactless interfaces, ISO/IEC14443 (A/B) Visa payWave Programs in Asia Pacific Visa payWave has been issued under the Visa Wave name in Malaysia, Korea and Taiwan. The Malaysia Program MBF Cards in Malaysia issued Visa Wave cards to 2000 consumers during the pilot in Kuala Lumpur/Klang Valley, Malaysia, from 27 April to 31 August 2004. Visa commercially implemented Visa Wave in Malaysia in February 2005. Visa Wave branded cards are issued by MBF Cards, United Overseas Bank, (Malaysia), Malayan Banking Berhad (Maybank), RHB Bank, EON Bank and Al Rajhi Bank The Mobile Visa Wave pilot, which is an EMV-based mobile contactless payment program using Near Field Communication (NFC), was first conducted by Visa International in Malaysia in April 2006. Mobile Visa Wave payment could be made across all merchants in Malaysia that have Visa Wave supported terminals. No change to the current acceptance infrastructure was required for the pilot. Participating Visa Wave merchants in Malaysia include: Caf? chains: San Francisco Coffee, Gloria Jean, Famous Amos, Hoca Coffee, Baskin Robbins Cinema chain: Golden Screen Cinema (GSC) Department stores, food plazas and concept stores: Parksons, Jaya Jusco, Kamdar, Bintang Super Market, Teddy Tales, Hallmark, Times The Bookshop Restaurants: Sushi King, Nando’s Chickenland, Supermarkets: Carrefour, Jaya Jusco, Fajar Dept Store and Supermarket The Taiwan Program Chinatrust Commercial Bank, Taishin International Bank, Taipei Fubon Commercial Bank, Cathay United Bank, Union Bank of Taiwan issue Visa Wave cards in Taiwan and Chinatrust Commercial Bank, National Credit Card Center, Taishin International Bank, Union Bank of Taiwan acquire Visa Wave merchants. Participating Visa Wave merchants in Taiwan include: Bookstore: San Min Books Cafe chains: Mr. Brown Coffee, Ikari Coffee Cinemas: South East Asia Cinema, Hsinchu Star Cinemas, Universal Cinema Department stores and food plazas: Shin Kong Mitsukoshi Department Store, Sogo Department Store, Dayeh Takashimaya Department Store, Breeze Center, Pacific Department Store, Hanshin Kaohsiung Department Store, Global Mall, IDEE Department Store, Shin Shin Department Store, Dollar Mall, President Department Store Hypermarkets: RT Mart, COSTCO Wholesale Personal Care stores: Watsons Petrol Stations: CPC self-service stations Supermarkets: Jasons, City Super Transit: Taiwan Railway, Kuo-Kuang Bus Video rental stores: Blockbuster The Korea Program The Visa Wave pilot program was launched in collaboration with Tesco, LG Card and LG Telecom in February 2006. Visa Wave cards are issued by BC Card, Hyundai Card, Lotte Card, Shinhan Card, Kookmin Bank, Hana Bank, Woori Bank, National Agricultural Cooperative Federation (NACF). Participating Visa Wave merchants in Korea include: Convenient Store: 7-Eleven Department store: Lotte Department Store Gas stations: SK Gas Station and GS Caltex Hypermarkets: TESCO, Lotte Mart, Hanaro Mart Cinema: CGV Personal Care stores: Missha Cosmetics The Singapore Program Visa payWave has been launched first with United Overseas Bank in July 2007. 300 Participating Visa payWave merchants in Singapore include: Cafe chains: The Coffee Bean & Tea Leaf, Cedele, Sandwich Shop, Ben & Jerry’s, Piper’s Pie, Anderson’s of Denmark Cinema Chain: Cathay Cinemas Department stores and food plazas and concept stores: Photo Finish, Sembawang Music, HMV, Giordano, Toys R’ Us and SASA Cosmetics Personal Care stores: Guardian Restaurants: Crystal Jade, Sakae Sushi For further information, please email [email protected].