Embracing Visa PayWave: Georgia Takes the Lead

In 2009 Georgia was the first country in the CEMEA (Central Europe Middle East and Africa) region in which Visa PayWave was introduced.

Visa payWave is a quick and convenient payment method that removes the need to physically swipe or insert the card into a payment reader; it is faster and more convenient than cash and as secure as traditional Visa card transactions. By simply holding a Visa payWave-enabled card at a close range from the contactless reader, consumers can complete a Visa transaction in seconds. There is no fumbling for cash and cardholders remain in possession of their Visa card at all times.

Visa payWave Characteristics

 Contactless payment which does not require a signature for transactions below a pre-defined amount.

 Transaction completes in seconds.

 Cardholders have every transaction recorded on the card statement and can enjoy discounts and offers at many participating merchants.

 As with regular Visa cards, Visa payWave-enabled cardholders are protected by the same lost and stolen fraud protection.

Contactless Payment Merchants

With consumers increasingly using their payment cards to make small-ticket purchases, contactless payments such as Visa payWave are becoming more and more popular at many merchant locations worldwide. This includes fast food restaurants, convenience stores, public transportation and taxis. As with all Visa cards, Visa payWave cardholders can check transaction records from issuing banks and will receive itemized monthly statements. As with regular Visa cards, Visa payWave cardholders can enjoy interest-free periods, discounts and offers according to the issuing banks.

How Visa payWave Works

Visa payWave-enabled products are equipped with EMV chip technology. The Visa payWave function is indicated on the Visa card and the card reader at the point of sale with the contactless symbol.

Visa payWave-enabled products are designed to be read at a contactless point-of-sale reader, and the card never leaves the customer's possession when used in a contactless transaction.

Visa payWave cardholders can make contactless payments at merchants that accept Visa payWave payments. They can pay for transactions up to a pre-defined limit (differs by country) without having to resort to signature verification. Cardholders can also use the same Visa payWave-enabled cards at tens of millions merchant locations with chip or magnetic stripe terminals.

The Biggest Benefits of Visa payWave

Visa payWave is a faster, secure way to pay for purchases. Saving time at the till for both consumers and merchants, one wave of the card completes the transaction. Compared to cash and PIN transactions, Visa payWave is:

 Fast – Visa payWave has shorter transaction times, saving both merchants and consumers time and keeping the queue moving

 Convenient – accepted anywhere with the Visa payWave logo, it works at many merchant terminals

 Secure – as a Visa card, Visa payWave is just as secure as a regular chip-and-pin transaction, with the same level of protection. Additionally, the card never leaves your hand during checkout, which provides you with added control and security at the point of sale

 Accessible – Visa payWave is available as prepaid, debit, and credit cards

 Simple – with no need for cash, entering a PIN, or signature, Visa PayWave allows you to just wave your card and go

CEMEA2 Stats3

 More than 80 issuers and acquirers across CEMEA

 Visa payWave cards are issued and acquired in more than 15 CEMEA countries - Armenia, Azerbaijan, Belarus, Bosnia and Herzegovina, Egypt, Georgia, Kazakhstan, Kenya, Kyrgyzstan, Lebanon, Macedonia, Moldova, Montenegro, Serbia, Russia, UAE, Ukraine.

 Visa payWave cards are accepted in more than 90 thousand locations across the CEMEA.

 Visa payWave transaction count has grown over 600% YoY (Dec 13 vs. Dec 14) in CEMEA.

Source: http://visa.com.ge/ge/en-ge/aboutvisa/newsroom/pdf/visa-paywave-ig.pdf