I. Introducing contactless technology- contactless

The standard EMV chip technology in supports of contactless payments is very familiar to us in nowadays. It increases the safety of card transactions and makes transactions more conveniently and modernly than cash payment.

Contactless technology is launched on the basis of EMV technology, it makes transactions faster, more simple and secure for customers and opens up a new opportunity to promote the transition of payment habits from cash to electronic payments.

Contactless payments use radio frequency to make a connection between contactless payment card and the contactless terminal device upon light contact (tap) or close together without swiping or inserting card into the card reader.

Transactions use contactless technology therefore take place faster, more convenient for customers. Cardholders simply tap card or place the device within a range of 2.5 to 4cm and the payment can be processed. Merchants save time and increase the number and volume of transactions.

* How it works

Visa paywave’s contactless payment technology allows customer to pay by simply waving cards or card readers.

II. Type of cards use IVB contactless technology.

The contactless card is a card with 4-line radio symbol  located in front of card, next to the EMV chip.

Type of IVB Visa contactless cards:

• Visa international debit card: Visa contactless debit card

• Visa international credit card for individuals (standard and gold): Visa contactless credit card.

• Visa international credit card for businesses: Visa contactless credit card for corporate.

IVB’s Visa PayWave card has the standard EMV chip can support both contactless payment method (swipe/ put card into the reader slot) and non-contact (lightly touch or wave near the POS device).

III. Utilities when using contactless card:

- Make shopping transactions with value <= 1 million by Visa contactless card faster and more convenient than other forms of payment.

- No need to swipe card or put card into the reader slot, just wave/tap it lightly to pay.

- Safer, the risk of fraud will be lower than that of traditional swipe because card is always in your hand during the payment period, you don’t need to give card to cashier.

- Card is still protected by the standard EMV chip technology and has all the features like other chip cards.

- Pay at millions of merchants worldwide.

- Especially suitable for customers who often go for travel or for business abroad, families with relatives who are studying abroad to pay for school and living expenses quickly and promptly.

IV. Payment guide for transactions use contactless

- Step 1: Find the POS device have contactless symbol or  to make contactless transactions.

- Step 2: Teller enters the payment amount into the POS device

- Step 3: Keep your card between 3 and 4 cm with the card reader.

- Step 4: Wait 1 second for the system to process and confirm the transaction has been successful. You can request a receipt or not.