MANILA Philippines - Don't you just hate long lines at the checkout counter, waiting for the cashier to process credit card payments?
Here comes a credit card which you can just wave in front of a card reader and pay for your shopping.
Citi Philippines and Visa on Thursday launched Citibank Visa payWave, the first contactless credit card payment technology in the Philippines.
Now Citibank Visa credit cardholders can simply place their cards in front of a Visa payWave reader to pay for items at Metro Manila branches of Robinsons Supermarket Express Lanes and Mercury Drug; buy movie tickets at Eastwood and Lucky Chinatown Cinemas; and buy coffee at Coffee Bean and Tea Leaf.
In November, the card can be used at McDonald's branches in Metro Manila.
"This is a revolution in the way we pay... Contactless payment means you tap the card on the terminal, and a transaction occurs a lot quicker than it used to be, Iain Jamieson, Visa country manager for Philippines and Guam, said in a press conference in Makati City.
The card is typically used for small payments from as low as P1 to P2,000. "This (card) is typically for smaller payments. In the Philippines, it is below P2,000, you no longer have to sign a receipt and you don't have to get the receipt if you don't want to," he said.
Purchases above P2,000, the payWave card can be used as a credit card where a signature or PIN is required.
Jamieson noted payWave transactions are three times faster than cash payments, and can reduce long lines at stores and supermarkets.
Citi Philippines is confident about the prospects of the contactless payments in the country.
"We are bringing this new way to pay, new innovation to about 1 million credit cardholders with Citi Philippines," Batara Sianturi, Citi Country Officer for the Philippines, said. "People buy on iTunes, Amazon and it's all paperless and we're bringing this reality to some of our partners here."
Bea Tan, consumer business manager for Citi Philippines, said the Visa payWave technology provides convenience and security for its customers.
"We have used the latest chip technology in our Visa payWave credit cards, so our customers should not be worried about cards having to leave their hands. They won't have to worry about it being skimmed," Tan said, noting the card does not have to leave the customer's hand during payment.
Citi has already started issuing the payWave cards for 6 out of 8 of its Visa products. Existing cardholders may request for reissuance of cards. They will also receive the contactless cards upon expiration of their old ones.
source: www.abs-cbnnews.com
