Visa Wave: Up to RM150 per transaction now

The capped limit of RM110 per transaction by the Visa Wave customers is now being revised to RM150 after the Bank Negara approval.


Launched in 2004, Visa Wave is a form of contactless payment that removes the need to physically swipe or insert a smart card into a payment reader. It is an EMV-based contactless payment credit card utilising radio frequency (RF) technology that allows payment to be conducted by simply "waving" it in front of a reader.

Faster transaction time of 2 seconds can be expected by using the Visa Wave. Currently, there are around 2500 merchants are using this facilities throughout Malaysia.

(Source: TheStar InTech 12th April 2007)


Some of the benefits of Visa Wave based on the survey conducted during the pilot study in Malaysia.
For Customers:

• Requires no signature and no card exchange at the point-of-sale
• Empowers cardholders with greater convenience, choice and flexibility in paying for goods and services
• Functions as a 3-in-1 card: Visa Wave can be used not only as a contactless card at places where the Visa Wave logo is displayed but also as a regular Visa card at more than 24 million acceptance locations and close to one million ATMs worldwide.
• 73 percent of cardholders prefer to use their Visa Wave card at key fast food chains

For Merchants:

• Provides greater speed of handling payment, allowing staff to attend to other customers more quickly
• By leveraging the industry-wide standard for smart cards, EMV, acts as a powerful tool against counterfeiting and fraud
• Enhances customers’ satisfaction with a modern, fast and convenient way to pay, leading to greater customer spend and loyalty
• 80 percent of merchants researched say that Visa Wave is a more secure payment than cash
• 70 percent of merchants commented that Visa Wave transactions are faster than other payment cards and speed up the process in store
• 80 percent of merchants find Visa Wave efficient and 95 percent would like to accept Visa Wave payments in the future.

For Financial Institutions:

• Enhances their offering to their customers – cardholders and merchants alike – with a new, fast, smart and convenient way to complete a transaction
• Grants access to new merchant categories – e.g. quick service restaurants and other ‘low ticket’ merchant segments
• Leverages the full benefits of EMV global smart card technology

Source: www.visa-asia.com