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CARDS & PAYMENTS | Staff Reporter, Singapore

Visa links up with FairPrice for payWave contactless payments

It's accepted at 116 outlets.

According to a release, FairPrice teamed up with Visa for the Visa payWave contactless payments which is now accepted at all 116 outlets island wide. 

This rollout by FairPrice marks one of the largest implementations of contactless payment acceptance by a local retailer, lending momentum to the mass adoption of the technology in Singapore. 

Mr Peter Maher, Visa group country manager, Southeast Asia, said “Visa payWave makes everyday transactions faster and easier for consumers. Convenience, speed of service and security are essential in driving consumer satisfaction levels. Visa payWave is just as secure as paying with Visa credit or debit cards – but faster.”

Before implementing Visa payWave acceptance across all stores, FairPrice ran a pilot program in February 2013 to test receptiveness among its customers. After observing a popular uptake, FairPrice made the decision to install Visa payWave terminals at all of its outlets – a program that was completed in June.

Mr Seah Kian Peng, CEO of FairPrice said, “This move reinforces our commitment towards enhancing our customers’ shopping experiences with a convenient payment option that is fast, secure and simple to use. As an innovative and progressive retailer, FairPrice is constantly looking for ways to support the changing needs and lifestyles of our customers and we recognise technology as an enabler in helping us serve our customers better.”

Ms Ooi Huey Tyng, Visa country manager, Singapore and Brunei added, “The introduction of Visa payWave across all FairPrice stores will help reduce queues by improving transaction speeds to provide a more enjoyable shopping experience for customers. With major retail brands like FairPrice onboard as Visa payWave merchants, we anticipate the volume of contactless payments to grow and Visa payWave transactions to account for one in ten face-toface payments by the end of this year.”

With Visa payWave, the card doesn’t need to be swiped by the sales assistant, and no signature or PIN (Personal Identification Number) is required for purchases under SGD$100, which makes it a faster way to pay while still being a secure Visa transaction. 

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