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NAB rolls out contactless Visa cards 30 November 2009
National Australia Bank’s credit card customers will now be able to enjoy the speed and convenience of NAB Visa payWave contactless technology to help them pay for purchases in the busy Christmas shopping period.The new technology allows customers to make purchases under $100 on their credit card without the need to sign or use their PIN. Customers simply hold their NAB Visa payWave card in front of the contactless EFTPOS reader to complete the transaction.NAB's Low Rate Visa Card is the first product to feature the technology from today, and will be followed with a progressive rollout across selected products through 2010.The new NAB Visa payWave contactless cards follow the installation of up to 2,500 NAB Contactless Readers at merchants across the greater Melbourne and Sydney areas. In addition, the Melbourne Cricket Ground expects to install up to 200 contactless enabled readers by Boxing Day to help reduce queue times for summer cricket goers.In a first for the Australian banking industry, NAB will be the first financial institution in Australia to offer a broad-based commercialisation of contactless issuance and acceptance utilising Visa payWave technology.NAB Visa payWave cards utilise EMV-level encryption technology which helps makes counterfeit fraud virtually impossible.The new cards are also protected by the NAB Defence Promise – providing leading and innovative security measures to fight fraud.
