Visa launches contactless cards - 04th May 2007

Visa has announced a plan to introduce contactless payment cards in the autumn, when it launches its payWaves technology in London.

The payWave cards can be waved in front of terminals with no need for them to swiped or inserted into readers.

Visa will introduce contactless payWave facilities at retailers across London transport hubs including Canary Wharf, Liverpool Street, Moorgate, Fenchurch Street, London Bridge, Charing Cross and Waterloo Stations. It expects around 200,000 consumers and about 2,000 retailers will participate.

The announcement is in partnership with its member banks including HSBC, HBOS, Lloyds TSB and Barclays.It follows Barclaycard’s announcement this week that it will roll out similar cards combined with Transport for London’s Oyster travelcard in the summer.

Mariano Dima, executive vice-president of marketing at Visa Europe, said payWave allows payments to be made instantaneously.

“Using wireless technology, payment details are securely exchanged between a chip card and a specially adapted point of sale terminal," he explained.

"For high volume retail environments, such as coffee shops, express grocery stores and newsagents, where transaction values are low and speed of service is essential, Visa payWave offers a secure, convenient and quick alternative to cash. Visa payWave is set to revolutionise how we pay in Europe and London is going to be at the forefront."