This post is brought to you by Visa
Visa payWave is the safest and most convenient way to go cashless. However, there are rumours and unverified reports that payWave is unsafe and it is prone to digital theft. Some had alleged that criminals can easily steal your card details using a smartphone and they can use that to make unauthorised transactions.
Visa wants to assure you that payWave is just as secure as any other Visa chip-based cards and it comes with multiple layers of security to keep your card safe.
You’re always in control
Like cash, your visa payWave card is always in your hands which gives you full control at all times. In order to make a transaction, you’ll need to place your card at least 4cm from the terminal which eliminates any “accidental” payments.
Not only payWave is more convenient than using cash, it’s also safer in a sense that you can call your bank or card provider to block your card if you lose your wallet.
Visa payWave is secure
A payWave transaction can only take place with an authorized Visa merchant, making it impossible for a random individual to take money out from your card. It uses the same EMV chip technology as other Visa chip cards which are very difficult to clone compared to traditional magnetic stripe cards.
On top of that, there are additional layers of security by the banks which would prevent unauthorised use. For transactions above RM250, you will be required to enter your card’s PIN number for further verification.
If you’re using payWave on your smartphone, your transactions are protected using your fingerprint or by other means of security authentication on your device.
Digital Pickpocketing is not true
You’ve probably heard that criminals can steal your card’s details from as far as 1 metre away using a special reader. While anyone can read your card’s number using an NFC app, the details obtained is hardly enough to create a working copy. Criminals won’t be able to duplicate the EMV security feature which generates a unique authenticate code for each transaction. Even if they plan on using it online, they don’t have your CVV2 number and access to your smartphone to receive the TAC number.
In fact, Bank Negara Malaysia has issued an official statement to debunk digital pocketing rumours. On top of that, they have also emphasised that contactless cards are equipped with safety features as mentioned earlier.
For greater peace of mind, Visa has a Zero Liability Policy which protects you from unauthorised transactions. If you lose your card or noticed any suspicious transactions, just make a report to your bank or card provider as soon as possible.
Shop with confidence with Visa payWave
Visa payWave is fast, safe and convenient. With its security features, you have nothing to worry about. If you see a payWave sign at the store, just pay with a simple wave and go.
For more information about Visa payWave and its features, you can visit their website.
