Q: What is Visa payWave?
A: All RSL Money credit and debit cards come equipped with Visa payWave. Visa payWave lets you make payments up to $100 without the card having to leave your hand, and without entering a PIN or signing for your purchase.
Payments over $100 require a PIN to be entered at the POS terminal. payWave is a fast, convenient and secure way to shop.
It's available at participating merchants that accept Visa, and you simply need to wave your payWave enabled card past the reader - the transaction is completed in just a few seconds.
Q: Is my Visa debit and/or credit card safe to use?
A: Yes, your card is a modern security chip card that is protected in a number of ways as outlined below.
Your RSL Money credit and debit cards are covered under Visa’s Zero Liability policy. With Visa's Zero Liability policy, you won’t be held responsible for fraudulent charges or unauthorised purchases made with your card or account information*.
Furthermore, RSL Money cards are protected by Vigil, a near real time fraud solution providing round the clock, 24/7 monitoring of all card based transactions. These transactions include ATM’s, EFTPOS and online Visa purchases with a rule library constantly being updated to respond to ever changing trends in the marketplace. In the event that a suspicious transaction is detected, you will be contacted by the Vigil team to confirm the legitimacy of that transaction.
Finally, RSL Money members are protected under the ePayments Code. The ePayments Code regulates consumer electronic payment transactions, including ATM, EFTPOS and credit card transactions, online payments, internet and mobile banking, BPAY and new technologies such as Visa payWave.
The ePayments Code is designed to cover all types of electronic funds transfers including:
- Withdrawing or depositing at an ATM
- buying goods or services on EFTPOS
- buying goods or services with a credit card (using a PIN)
- computer/mobile phone internet banking
- telephone banking
- transactions using stored value facilities such as prepaid phone cards.
*Visa's Zero Liability policy does not apply to ATM transactions, transactions not processed by Visa or certain commercial card transactions.
Q: Is Visa payWave safe?
A: Visa payWave-enabled cards are just as secure as any other Visa chip card and carry the same multiple layers of security protection. Some of the security features of Visa PayWave:
- Your card never leaves your hand during the transaction
- Ultra short read range - cards can only be used within less than 4cm of the card reader
- Unique in-built secret "keys" that generate cryptograms to uniquely identify each transaction
- A secure microprocessor on the card
- The Visa payment network automatically detects and rejects any attempt to transmit the same information more than once
- Your name and three digit security codes are never transmitted during a payWave transaction.