The platform is designed to deliver speed and convenience by making the purchase process faster and easier, while offering the same level of security protections that has become the norm in recent years.
To use Visa’s Contactless, cardholders simply hold their card briefly near a secure reader at checkout, instead of swiping it. All other aspects of the contactless transaction are handled in the same way as a traditional Visa transaction.
After successful trials in several regions of the world, we feel we have the right solution and this is the right time for Visa to make contactless technology available in the US market, said Elizabeth Buse, executive vice president, product development and management, Visa USA. We want to make sure our Members and merchants have the ability to offer current innovations to their customers, if they choose to do so.
With regard to customer education, Visa stated that it advocates that the industry adopt a brand-neutral contactless indicator to identify contactless cards, key fobs and devices, and to convey to cardholders where contactless cards are accepted. This, the company believes, will simplify the point of sale for merchants and will allow financial institutions to brand their contactless programs as needed.
Meanwhile, Visa’s rivals have also been advancing their contactless services. MasterCard plans to fully roll out is PayPass system in a convenience store chain beginning in March, while American Express’ ExpressPay is being rolled out at CVS pharmacies.
