Visa payWave

Visa payWave is the easiest way to pay for low-value, everyday purchases in less than a second.

Visa payWave enables you to make contactless payments using a standard credit or debit card.

There’s no need to insert the card into a terminal, sign your name or enter a PIN. Instead, you simply hold your card in front of a special contactless card reader. Transactions take place in less than a second.

It’s fast, convenient and secure and means you can wave goodbye to cash.

How it works

1. Shop

The retailer enters the transaction amount and the contactless reader prompts you to present your Visa payWave card.

2. Pay

Hold your card in front of the reader. Within a fraction of a second, the terminal display indicates that the card has been read.

3. Go

Your purchase is complete!

What is Prepaid cards?

A Visa prepaid card is a type of Visa card that is pre-loaded with a set amount of money, offering cardholders convenience, security and control.

A Visa prepaid card is just like a normal credit or debit card. It carries all the normal card features, such as a card number, expiry date and security code, and can be used at most places that accept a conventional Visa card.

However, instead of being linked to a bank account (like a Visa debit card) or providing a line of credit (like a Visa credit card), the amount you can spend is limited by the value that’s been pre-loaded onto the card.

This means that you can enjoy all the convenience, ease of use and security of a Visa card along with the ability to control the amount that you spend. A whole variety of Visa prepaid cards are now being offered by banks, websites and high street retailers. Popular options include:

•     Convenience cards for separating out your card spending
•     Gift cards a safe and convenient way to give money
•     Travel cards for keeping your holiday spending separate
•     Virtual cards specifically for online spending
•     Youth cards to enable controlled and monitored spending

Visa prepaid cards are either disposable or re-loadable, depending on your preference:

    Disposable – rather like an electronic gift voucher, it can be used until all the funds are spent, then thrown away

    Re-loadable – like a prepaid mobile phone account, when the value is running low, it can be topped up and used again.

What is Virtual cards?

  

Virtual cards

A Visa prepaid virtual card is designed specifically for use on the internet.

When you apply for a Visa prepaid virtual card, you don’t actually receive a physical plastic card. Instead the issuer will generally provide you with details of a card account, such as the card number, the expiry date and the security code, that you can then use to make purchases online.

For example, some issuers may provide an electronic image of a card on a webpage or in an email which is for immediate use. Others may give you a reference card (possibly made of cardboard or flexible plastic). This means that a Visa prepaid virtual card cannot be used in ATMs or in shops that aren’t online.

A virtual card is ideal for people who want to keep their online spending separate from their credit or debit card. It’s also a good option for people who want to buy online, but might not qualify for a conventional credit or debit card.

A Visa prepaid virtual card offers:

•     Control – your card can only be used online or over the telephone, and you can keep your      online spending entirely separate from your everyday spending
•     Security – you have the same level of security and protection that you would expect from any other Visa card
•     Flexibility – because it’s a Visa card, it can be used at any websites that accept Visa payments.