FutureFive NZ - Visa payWave transactions hits one million monthly milestone

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Visa payWave transactions hits one million monthly milestone

For the first time New Zealanders made more than one million Visa payWave transactions last month, marking a significant milestone since contactless cards were launched in 2011.

Nearly half of all New Zealand contactless cardholders prefer to wave their card than pay with cash, due to the convenience of Visa payWave.

Caroline Ada, Visa Country Manager, New Zealand and South Pacific, believes this growth is because of the increase in retailers with contactless terminals, as Kiwis can now use their Visa payWave cards in stores such as petrol stations, cinemas, supermarkets, pharmacies and department stores.

“Breaking the one million milestone in a single month shows contactless payments are becoming an increasingly preferred form of payment in New Zealand," Ada says.

"It tells us Kiwis are embracing this faster and more convenient way to pay over cash.

“More than 1.5 million Visa payWave cards have been issued by our bank and credit union partners in New Zealand and we expect this to grow in the coming months."

Fast food restaurants SUBWAY and Burger King are the latest merchants to accept contactless payments, with the stores adding to more than 12,000 contactless terminals at merchants including BP, Z Energy, Farmers, Glassons, The Warehouse and a growing number of quick service merchants.

BP’s Jonty Mills, Communications and External Affairs Manager, says each month BP is experiencing significant increase in customer transactions using contactless technology at the point of sale.

“We’re getting the message out there that we have this fantastic technology and our customers are taking advantage of the benefits in increasing numbers as they’ve become more aware," Mills says.

"This is great for BP and great for our customers who can get in and out of our shops quicker with less queue time."

James Woodbridge, General Manager of Marketing at Burger King New Zealand, adds: “Burger King is preparing for the deployment of Visa payWave and we are confident it will enhance our customers’ experience with faster payment of orders.”

Ada says, with strong support from the industry, the increase in the number of Visa payWave cards issued and acceptance points has provided consumers with a more convenient payment option than cash.

“The uptake of contactless payments also paves the way for the roll out of mobile payments in the future,” adds Ada.

“Most recently, we’ve been working with Vodafone and BNZ on a precommercialisation trial of Vodafone SmartPass. This solution uses Visa payWave and allows Kiwis to use their cellphone to pay for everyday items,” she says.

Since Visa payWave was launched in New Zealand, Visa and its bank partners have been educating consumers and merchants about how to use Visa payWave and its security features.

Payment security is one of Visa’s highest priorities and Visa payWave-enabled payment cards are no exception. Visa payWave cards are as secure as traditional chip cards and meet all the same standards.

In addition, with Visa payWave, the card never leaves the cardholder’s hand, also reducing the risk of fraud.

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