Nearly half of all face-to-face Visa transactions in Australia are now completed with Visa payWave, with an increasing number of restaurants are turning to Visa payWave to speed up their checkout process.
Contactless payments, designed to replace the use of cash in busy retail environments where speed, convenience and payment security are important, are increasingly being rolled-out across the country at Quick Service Restaurants including a number of SUBWAY® stores and food retailers in Westfield Sydney.
A recent survey by Visa and Independent Purchasing Company (Australasia) Ltd (IPCA), working on behalf of SUBWAY® Franchisees, found that convenience and speed were the driving factors behind Visa payWave usage. The survey of more than 1,800 customers revealed that 83 per cent of customers were very satisfied with the convenience of contactless transactions and one in two customers chose to use contactless due to its speed.
Stephen Karpin, Visa’s Group Country Manager for Australia, New Zealand and South Pacific, said it was clear that Australians were turning to contactless payments in ever increasing numbers.
“Customers enjoy the benefits of contactless payments in a variety of Quick Service Restaurants and cafes across Australia. It’s fast and convenient and just as secure as traditional chip cards. Visa payWave now represents 40 per cent of all face-to-face Visa transactions in Australia, doubling in just under a year,” Mr Karpin said.
The survey at SUBWAY® restaurants also showed that 37 per cent of customers would have used contactless if they had known it was available, representing an opportunity for merchants.
Duane Barber, Chief Executive, IPCA, said: “We are supporting Franchisees to access Visa payWave enabled terminals because we know it improves speed of service in the restaurants.”
Contactless payments have also been rolled out in Westfield Sydney’s food court cafes and restaurants to help manage lunchtime queues.
Westfield Sydney Centre Manager, Trevor Hill, said: “Retailers in our food courts see the opportunity in contactless payments. Their customers want to get in and out the door quickly and Visa payWave facilitates that. We have moved to over 75 per cent contactless terminals in the last six months.”
Visa’s processing network, VisaNet, shows Australians made 40 million Visa payWave transactions in January 2014, up from 28 million in the four months since September 2013.
Australians are already enjoying the convenience of Visa payWave at thousands of stores across the country including JB Hi-Fi, Bunnings, Coles, Woolworths, 7 Eleven, Foodworks, IGA and Caltex.