Visa Praises with its Visa Micro Tag – a new Contactless Payment Device

The new Visa Micro Tag is a new “free on board” key payment device which embeds the Visa payWave feature.
Visa payWave has been released recently, as a contact-less technology feature to permit cardholders to wave their card in front of contact less payment terminals with no need for physical swiping or card insertion.

Visa Micro Tag offers financial institutions the possibility to give cardholders a useful way of wearing an existing credit, debit or prepaid account with them.
One of the benefits of Visa payWare is that customers in US can opt for not signing for payments under 25$.
Many gas stations, sporting venues, convenience stores, and fast food restaurants, are already taking advantage of this technology.

According to Visa, the product is very secure because besides the standard protection of Visa products, it has also other security layers, submitting the unique digital watermark to the Visa payment network for each transaction.
In addition, the Visa Micro Tags don’t contain printed account numbers, as they are worn as key chains.

Pam Zuercher, vice president, product innovation and coordination at Visa USA, declared that “Consumers today are interested in using electronic forms of payment for small ticket purchases.” “As one of the smallest payment devices, the Visa Micro Tag allows cardholders to carry a payment device that delivers fast and convenient transactions, while also providing an added layer of security.”

Visa Micro Tag is not an expensive innovation; it can be easily manufactured and made into a variety shapes and sizes.

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