San Francisco, CA (PRWEB) September 27, 2007
Visa announced today the availability of the Visa Micro Tag, a new key fob payment device embedded with Visa payWave, Visa's contactless technology feature. The Visa Micro Tag is designed to easily attach to a key ring, and it allows cardholders to pay by simply waving their Visa Micro Tag in front of a contactless smart card reader without the need to physically swipe or insert the device into a point-of-sale terminal.
The Visa Micro Tag allows financial institutions to offer cardholders a companion smart card device to an existing Visa credit, debit or prepaid account. Designed to be small and durable, the Visa Micro Tag makes paying for purchases faster and more convenient.
Visa Micro Tags display the Visa Brand Mark and contactless indicator. A Visa account number is not required to be embossed or printed on the device, providing an additional layer of security for consumers carrying a Visa Micro Tag in visible ways, such as on a keychain.
"Visa cardholders consistently say they would like to use their Visa accounts at more merchant locations and are looking for faster and more convenient transactions," said Pam Zuercher, vice president, product innovation and coordination, Visa USA. "As one of the smallest payment devices, the Visa Micro Tag offers the experience cardholders demand with the added layers of security they expect from Visa."
Visa Micro Tags can be easily manufactured and personalized as part of an automated manufacturing process similar to that of standard cards. This helps issuers control costs while more readily providing an exciting new payment choice to Visa cardholders. The Visa Micro Tag can also be made into a variety of shapes and sizes, from flat to three-dimensional, delivering innovative payment product design options.
Visa Micro Tag Promotion at AT&T Park
To celebrate the debut of the new payment form factor, Visa Micro Tags loaded with $15 will be distributed to the first 1,000 San Francisco Giants fans entering AT&T Park's Field Club level September 26, 2007. In addition to distributing the Visa Micro Tags, Visa ambassadors will educate baseball fans on how the device works and encourage trial at concession stands located throughout the stadium.
Added Zuercher, "After using the Visa Micro Tag, consumers will understand how this innovative device can quickly make their lives easier by speeding them through checkout lines. We believe the Visa Micro Tag will help shape the future of payments."
About Visa PayWave:
Since its introduction in 2005, Visa's contactless technology has grown rapidly in popularity. Customers in the U.S. with Visa payWave cards enjoy the convenience of not having to sign for payments under $25, a feature that also benefits merchant locations where speed is important and where cash has been the traditional means of payment. The technology is already in use at convenience stores, sporting venues, gas stations and fast food restaurants nationwide.
Cardholders with Visa payWave-enabled products receive all the same security protections the industry has come to expect from Visa, including zero liability for fraudulent charges and Visa's industry-leading anti-fraud technology. Cardholders making purchases with Visa PayWave-enabled products enjoy additional layers of security because the payment device never leaves the customer's hand, can only be read at extremely close proximity to a reader, and submits dynamic authorization data to the Visa payment network that is unique to each transaction.
About Visa USA:
Visa USA is a leading payments brand and the nation's largest payments system, enabling banks to provide their consumer and business customers with a wide variety of payment alternatives tailored to meet their evolving needs. Visa USA is committed to increasing the choice, convenience, acceptance and security of Visa payments for all stakeholders -- financial institutions, cardholders and merchants. As of March 31, 2007, in the United States, more than 521 million Visa-branded cards have been issued by more than 13,000 financial institution customers.
Visa products generated $1.8 trillion in total volume in the United States during the four quarters ended March 31, 2007. Visa enjoys unsurpassed acceptance around the globe. For more information, visit http://www.visa.com.