Visa has been relatively dormant in the tech-driven payment space for a few years. Although its 2007 introduction of Visa payWave, using RFID technology, was a great step, the likes of Apple Pay and Google Wallet have more effectively improved the classic payment pain point. Visa does have a solution, though, and it wants local tech wizards to help make it happen.
Visa has launched a streamlined payment process for New Zealand merchants, which has been dubbed the “contactless card” of online transactions. So far the major cinema chains, The Warehouse Group and Flight Centre are on board. Plus: we look at the latest developments in mobile payment tech.
Paradigm Strategy Partners managing partner Donald Blair explains why the potential sale of Paymark is significant for New Zealand retailers, as it could mean the end of Eftpos as we know it.
Approximately one million NFC-enabled smartphones are in use in New Zealand and as more and more humans become accustomed to paying via contactless terminals, those two technologies are edging ever closer.