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ANZ and Visa 'launch first reloadable contactless card'

Date Published : Monday, July 21, 2008

ANZ Bank and credit card provider Visa have launched Australia's first "reloadable" contactless payment card, the companies have announced.

The new ANZ Stadium Visa payWave Card will be officially unveiled at the ANZ Stadium in Sydney for use ahead of this year's Bledisloe Cup rugby test match.

The card works by allowing customers to pay for items under $35 without having to enter a personal identification number (pin) or sign a receipt.

Instead, they will use the prepaid card up to a contactless reader, which will pick up the card within a range of five centimetres. An embedded computer chip and antenna on the card then securely transmit the payment details to the terminal.

During the entire payment process, customers do not have to let go of the card, which reduces the risk of fraud, the companies said. Once the funds on the card have been spent, consumers will be able to reload it via the internet or over the phone.

At the official launch, cards loaded with $25 will be given to 2,000 ANZ Stadium members, who will be able to use them to buy food and drinks at selected outlets within the members' area. A magnetic strip is also included on the card so fans can use it to pay for goods outside the building.

Visa general manager for Australia and New Zealand, Chris Clark, said: "The shorter the transaction times, the shorter the queues and the sooner sports fans can return to the game. The card offers a secure, convenient and quick alternative to cash."

"An average Visa payWave transaction can be completed in four to six seconds including printing of the receipt, less than half the time of a cash transaction which averages 12 to 14 seconds."

This year's Bledisloe Cup match at the ANZ Stadium will be played on July 26th.

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