48 SMART: Credit Card Contactless Payment
+Smartan Dad

Wednesday, 19 March 2014

Credit Card Contactless Payment

When we make payment with our credit card during shopping, the cashier will slot our card into a card reader and key in the amount to proceed. Then the card reader will contact the card centre and print out two copies of transaction slips upon confirmation. Once we put our signature on the merchant copy of the slip, then only the transaction is completed. 

This process will take more time if there are problems like line connectivity, card connectivity, reader out of paper and so on. To make payment faster and more convenient with credit card, Visa and MasterCard already introduce a new payment feature with contactless payment technology, known as Visa payWave and MasterCard paypass. With payWave and paypass, you just need to tap your credit card in front of a secure reader at the counter, and you're done.

To use payWave or paypass feature, you need to ensure that you have a credit card that has a wave logo or printed with payWave/paypass wording. Then, you need to find merchants that have payWave/paypass enabled reader that looks like the picture above. Once the cashier enters the purchase amount into the terminal, hold your card within 4cm from the contactless reader. Your transaction is confirmed when the green indicator lights up and you see a display message confirming that your transaction has been successful.

In Malaysia, you can use your payWave/paypass enabled card for purchases of up to RM 150 per transaction. No signature or PIN is required. The payWave/paypass is designed to let you make a paperless wave-and-go payment, but you can request for a receipt if one is required. This really saves time on both retailer and shopper as shorter transaction time means you spend less time in queues.

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