Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.

ANZ Visa payWave – Contactless Payment Technology

Visa payWave is a secure, contactless technology that helps you spend less time at the register.

Updated

The Visa payWave is an innovation by Visa. With this card, you can now transmit your purchase information via a small antenna that’s embedded inside your card.

No longer do you have to swipe your card and then enter a PIN number or sign your name. You also don’t need to think about carrying cash around with you. You just wave your card past the portal point and your payment is made automatically through your account.

The benefits

When you use the Visa payWave, you’re saving a lot of time. As long as the amount of the purchase is under $80 and the merchant accepts the card, you can transmit your purchase information through the air and you don’t have to worry about a thing.

You’ll still receive a receipt for your purchase transaction to verify that the payment was received from the right account. You just won’t be using a signature or a PIN to verify the sale. The chip inside your credit card does this for you.

If you’re not sure if the merchant accepts the card, look for the payWave symbol. But even if the merchant doesn’t accept the ANZ Visa payWave, as long as Visa is accepted, you’ll be able to use your card the old fashioned way.

Are there any fees?

You will be charged standard fees just like with any Visa card but you won’t be charged anything extra just for using payWave technology. This service is completely free, and Visa payWave terminals can only accept one transaction at any one time, so no need to worry about your card being charged multiple times. The merchant will have to complete the transaction or void it out if you wish to wave your card again.

The merchant has to enter the amount of the purchase and then prompt you to use the card before your transaction can go through. So you can relax as the ANZ Visa payWave is not only extremely convenient but it’s also an easy way to shop for the things you need.

How close do you need to be?

When you want to use your ANZ Visa payWave, you only have to hold your card a few centimetres away from the card reader terminal for your card to be accepted. Again, your purchase must be less than $80 if you want to wave your card. If the purchase is over $80, you will need to enter your PIN number or sign your name just as you always have.

Could you make accidental payments by walking past a card reader?

In order for a payment to go through, the shop assistant or retailer needs to enter the amount being charged for your purchase. You then need to hold your card a few centimetres away from the reader so the purchase can be recorded.

This means you can’t accidentally be charged for something you didn’t buy just by walking past a payWave terminal with your credit card.

Of course, you still have the option of paying for your purchases the usual way if the retailer you’re shopping with doesn’t have this kind of terminal yet. This means you can still swipe your card like always and sign the receipt if you want or enter your PIN to verify the purchase.

So as long as the merchant accepts the ANZ Visa payWave and you aren’t buying anything over $80, you can just wave your card close to the terminal and your payment will be processed. Then you can gather your purchases and leave the store in record time.

payWave security features

Some customers have voiced concerns about the ease of a credit card being stolen and then used with payWave technology to accumulate purchases without needing a PIN or a signature. But the ANZ payWave system does offer security for your account to offer you some peace of mind.

ANZ credit cards use the most modern encryption technology available to help reduce the incidence of credit card fraud. When you make a payment using ANZ payWave, you know that the payment will be processed by the same secure network that is used to process the transactions for chip cards too.

You can also feel secure that you have the ANZ Fraud money back guarantee behind you and your account. This means if your card does go missing and someone else decides to spend money using your credit card, you won’t be held liable for those transactions.

As long as you can verify that those transactions are fraudulent and you notify the ANZ regarding the details of the fraud, you will receive that money back in your account.

Back to top

More guides on Finder

  • Kiwibank Zero Visa credit card

    If you’re looking for a card for everyday use, the Kiwibank Zero Visa has no account fee and a lower interest rate.

  • ASB Visa Business credit card

    Manage your cashflow and get comprehensive business expenditure reporting with the ASB Visa Business credit card.

  • ASB Visa Business Rewards credit card

    Earn rewards and take advantage of comprehensive business expenditure reporting with the ASB Visa Business Rewards card.

  • ASB Visa Rewards credit card

    Find out how you can be rewarded for spending with the ASB Visa Rewards card.

  • TSB Visa Classic Credit Card

    The TSB Visa Classic has a low card fee and an interest rate of 18.50% p.a. on purchases and cash advances.

  • ANZ Cashback Visa Platinum

    The ANZ CashBack Visa Platinum allows you to earn cash back for everyday purchases, plus the first annual fee is waived when you sign up.

  • ANZ CashBack Visa

    Find out how you can get cash back just for using your card for everyday purchases with the ANZ CashBack Visa.

  • ANZ Low Rate Visa

    With no annual card fee and a low-interest rate, an ANZ Low Rate Visa is worth considering if you want to save money.

  • Visa Vs Mastercard – Which is best?

    Does it matter whether you have a Visa or a Mastercard? We find out what the difference is.

  • Q Mastercard

    Find out how you can get zero interest and no repayments for 3 months on all purchases when you use your Q Mastercard.

Go to site