Malaysian bank Maybank has launched its Visa Wave, a credit card that allows card holders to perform contactless payment for their purchases by simply waving their card at the point of payment.
The card is designed for purchases that total less than RM110, and is expected to find application at gas stations, convenience stores and fast food chains. For any amount exceeding RM110, customers can still use their wave cards to pay by inserting the chip-based credit card into the reader.
The bank said the card is usable at over 2000 outlets, with a further 2000 been added in the next 10 to 12 months.
Ashraf Ali Abdul Kadir, head of cards business, said This contactless payment mode offers greater convenience because customers need to only wave their credit card at the reader without the card leaving their hand or being required to sign. It will also reduce queues at counters as payment is done quicker.