A Visa payWave debit card is a contactless payment card with an embedded antenna and chip that allows users to make purchases by tapping or waving the card near a secure reader. It facilitates faster, secure transactions for smaller amounts without swiping, inserting, or entering a PIN.
To find out if your card has contactless technology, it will have the payWave logo on the front. If you do not currently have a card with contactless technology, when your current card expires or is re-issued if reported as lost or stolen, the replacement card you receive will have contactless technology.
Visa payWave is a payment feature that lets customers use their enabled Visa cards or mobile device at the point of sale (POS). The customer simply waves his card or mobile device in front of the secure reader at checkout, instead of swiping it or handing it to a cashier.
How it works
Contactless payments (Visa payWave) are only available on credit cards or Flexi Debit Visa cards, and are turned on by default. You can turn contactless payments on or off in the BNZ app. If you don't have the BNZ app you can set it up yourself, or call us on 0800 275 269.
There are no fees for setting up or using the payWave feature on your card. However standard fees and charges may apply to our cards or card related transactions.
Yes, tapping your card is generally considered safer than inserting it because it uses tokenization and encrypted one-time codes, preventing your actual card details from being exposed to the terminal and reducing the risk of skimming, keeping your card in your possession at all times, and often requiring biometric authentication with mobile wallets, though both methods are secure due to EMV technology. While both tap and insert (chip) use strong EMV security, tapping avoids physical contact with potentially compromised readers and keeps your data encrypted for each transaction, making it a superior choice for security and hygiene.
Some customers who have used Wave's payment features have complained that their accounts were canceled after an initial transaction due to being flagged as high-risk businesses. In most cases, the businesses were unable to defend themselves and had to wait 120 days before any funds were transferred.
Using contactless payments
You can use contactless payments (Visa payWave), with your card or device anywhere you see the contactless symbol, both here and overseas. All Kiwibank Visa Debit and credit cards come with contactless capability.
To check whether your credit or debit card is contactless, look out for the symbol on the card. It's four lines, curved and increasing in size from left to right, on the front or back of your card. You might notice it's similar to the Wi-Fi symbol.
The card is enabled with contactless feature i.e. Visa Paywave, MasterCard® Contactless and MyDebit. You may wave or tap at contactless card reader. Transaction below RM250, PIN is NOT required. Transaction above RM250, PIN number is required.
Due to this, payWave does have an additional cost per transaction called a MSF (Merchant Service Fee) that allows you to accept and process contactless payments. This is paid by you, the merchant, to your acquirer, which is often a bank in New Zealand (but if you're a Smartpay Low Cost Tap & Pay customer—that's us!).
Security. Both Visa and Mastercard offer zero liability fraud protection, ensuring cardholders are not held responsible for unauthorized charges made with their cards when reported promptly. Additionally, Visa's security features include: AI-driven verification of over 500 data points on transactions.
If your Visa card features the Contactless Indicatoron either the front or back, you can use it to tap to pay where you see the Contactless Symbol at many of your favorite stores.
Android Pay is a secure and easy-to-use mobile payment service that can be used to make purchases anywhere VISA Paywave and MasterCard Paypass is accepted.
Due to the state-of-the-art security features of tap-to-pay cards, the risk of fraud doesn't typically take place at the transaction level. Instead, it happens through other means, such as data breaches out of your control, scams, or not keeping your cards safe.
Can You Have Multiple Debit Cards for One Checking Account? Yes, it is possible to have multiple debit cards linked to a single checking account. This is often the case with joint bank accounts, where each account holder receives their own debit card.
Disadvantages of debit cards
Here are some of the most secure payment methods available online:
Credit Card Processing Fees: 2.9% + $0.60 per transaction for Visa, Mastercard, and Discover, and 3.4% + $0.60 per transaction for American Express. Bank Payment (ACH) Fees: 1% per transaction with a $1 minimum fee.
In addition to this, throughout a contactless transaction you remain in control of your card, reducing the risk of card skimming and counterfeit fraud – making using Visa payWave~ a safe and convenient way to shop.
Debit cards are linked directly to your bank account, which means that if someone gains access to your card information, they can potentially drain its entire balance. Additionally, online retailers have varying degrees of security, potentially leaving your information vulnerable to hackers.
The 2/3/4 rule is a guideline, primarily used by Bank of America, that limits how many new credit cards you can get: no more than 2 in 30 days, 3 in 12 months, and 4 in 24 months, helping to prevent over-application and manage hard inquiries on your credit report. While not universal, it's a useful benchmark for responsible card application, though other banks have different rules (like Chase's 5/24 rule).
Yes, card info can potentially be stolen from tap-to-pay, mainly through methods like "ghost tapping," where criminals use hidden or disguised readers to capture data from a short distance, though it's generally safer than older methods, especially with mobile wallets using dynamic codes; however, vigilance is key, so monitor statements, use RFID-blocking sleeves, and turn off tap-to-pay when not needed.