Introducing contactless payments with payWave

SERVICE ONE Visa cards now offer the payWave functionality, and this means you have an added option when you go to make payments. If you are making a payment for less than $100 and the merchant is displaying the Visa payWave logo and/or contactless symbol on their payment terminal, you have the option to process this payment without your card having to leave your hand. This means a faster and more convenient way for you to pay for things and get on with life.

How does it work?

At the point of transaction, you just hold your card within 5cm of the payWave card reader and four green lights will indicate a successful transaction. This should take no longer than half a second. There is no need to swipe your card or place it in the POS terminal, you don’t need to select ‘savings’, ‘cheque’ or ‘credit’, and you don’t need to enter a PIN or sign.

If you are after a receipt, make sure you ask the retailer for one as payWave transactions are designed to get you on your way in a timely fashion and receipts will not always be issued automatically.

What about purchases over $100?

You can still use your payWave-enabled card for purchases over $100. This transaction will take place as per more traditional transactions – by swiping or placing your card in the POS terminal, with a PIN or signature to authorise. For these transactions, remember to select 'credit' (when allowable by the merchant), as these transactions do not incur any SERVICE ONE fees (merchants may charge a fee for the transaction).

Can I get cash out with payWave?

No. In order to get cash out with a purchase, you need to use the more traditional transaction method of either swiping or placing your card in the POS terminal.

Is payWave secure?

payWave uses the chip technology platform, providing the most secure form of data and transaction security.

In addition:

• there’s minimal risk of you accidentally paying for someone else’s purchase because your card needs to be within 5cm of the payWave reader and the terminal is only active at a certain point in each transaction – it doesn’t remain active
• your card never leaves your hand which minimises the threat of your information being copied, and
• because payWave is designed for small purchases such as lunches, SERVICE ONE has imposed a $200 daily withdrawal limit for payWave transactions (your normal daily limits remain for the more traditional transactions) – minimising the extent of fraudulent activity should your card get lost or be stolen.

How can I protect myself?

You should always be mindful of card security – this means contacting SERVICE ONE immediately should you lose your card or if it’s stolen and you should carefully check your statements to ensure you are responsible for all transactions that appear.

You may also like to consider using SERVICE ONE’s alerts functionality* through eLink Internet banking, as this provides you with real-time information on your account balances and transaction information through either email or SMS.

More information on how to protect yourself can be found on our Fraud Awareness page.

* Fees and charges apply for certain alert services.

Where can I make payWave purchases?

More and more retailers are adding payWave functionality to their payment options every day. As of March 2011, there were 20,000 contactless terminals in Australia and this number is set to grow rapidly, including some of the largest retailers in the country:

• Bunnings Warehouse
• JB Hi-Fi
• McDonald's
• Red Rooster, and
• selected IGA stores.

For more information on merchants accepting payWave payments, visit visapaywave.com.au.