TORONTO — Visa Canada Association announced the availability of its contactless technology, Visa payWave, in the Canadian market. Visa payWave-enabled products offer the security benefits inherent in EMV chip technology.
For merchants, Visa payWave will offer benefits including faster transaction times, increased ticket size, card usage and customer loyalty.
Visa payWave builds on the success of Visa's "No Signature Required" (NSR) program which offers merchants a payment option that can decrease check-out times. Currently, the NSR program does not require a cardholder signature for purchases of $25 or less at certain merchant locations such as fast food restaurants, movie theatres, parking lots, variety and convenience stores, news stands and video/DVD rental stores. Visa payWave-enabled products will offer quicker transaction times and leverage the security of chip card technology.
To use a Visa payWave-enabled product, cardholders wave their card or device near a secure reader at checkout, instead of swiping it. All other aspects of a Visa payWave transaction are handled in the same way as a traditional Visa transaction.
