Visa payWave transactions hit 3 million per month

Visa payWave transactions hit 3 million per month

Number of Visa payWave payments triple in 12 months

Auckland, November 5, 2014 - New Zealand customers have embraced Visa payWave with over three million transactions taking place using Visa payWave in September. This is the first time more than three million Visa payWave transactions have been made in one month and is three times the number of transactions this time last year.

Visa launched Visa payWave in New Zealand in 2011 and since then, the number of cards and merchants accepting Visa payWave have grown significantly.

Caroline Ada, Visa Country Manager, New Zealand and South Pacific, believes New Zealanders love new technology and are enjoying the convenience and security that comes with Visa payWave.

“It’s been less than a year since we first broke through the million transactions a month mark and customers tell us Visa payWave is fast becoming their preferred form of payment. It is three times faster than paying with cash and just as secure as a traditional card. With more retailers offering Visa payWave, customers are finding they can use their card in more places and they love the speed and ease of it all.”

The latest retailers to join the Visa payWave revolution include Pak’nSAVE, New World and McDonald’s and with more than 16,000 terminals now in use across New Zealand, merchants are also enjoying being able to conduct payment transactions quickly and securely.

“Customers tell us the convenience of Visa payWave means they don’t have to spend time standing at the counter while waiting for a transaction to process. It’s quick, secure, and gives them more time to enjoy their shopping trip. A happy customer is one who can complete their supermarket shopping quickly and effortlessly after getting all the products they require. So for us it’s great to offer our customers innovative services such as Visa payWave which helps them complete their payment with ease,” says Steve Bayliss, Group General Manager Marketing, Foodstuffs New Zealand Ltd.

“New World and Pak’nSAVE stores will be rolling out Visa payWave over the next few months with all stores offering the service by the end of 2015.”

Support from banks and retailers has been a key part of the success of Visa payWave and Visa is working with both groups to educate customers on the benefits, says Ada.

“Security is one of Visa’s top priorities and Visa payWave cards are a step forward in that regard. Not only is the card itself as secure as a traditional chip-based card, but because the customer doesn’t have to hand over the card to complete the transaction, the risk of fraud is greatly reduced.”

Mobile technology is set to revolutionise the payments market in the next few years and Visa is working with its banking and merchant stakeholders and other payment providers to bring the best solutions to market.

Ada says New Zealand is an ideal market for mobile payments because of the high levels of smartphone usage and the growing Visa payWave footprint which makes mobile payments possible.

“The mobile is our most valuable and personal device. Seventy seven per cent of people never leave home without their phones and mobile is primed as a key source for multiple payment methods,” says Ada.

About Visa Inc.
Visa Inc. (NYSE: V) is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world's most advanced processing networks — VisaNet — that is capable of handling more than 56,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa's innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, pay ahead of time with prepaid or pay later with credit products. For more information visit www.visa.co.nz and @Visa_NZ.

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