For contactless payments, cardholders can pay up to an amount of EUR 25 without entering a PIN or providing a signature; for higher value payments, the cardholder authorizes the transaction with his PIN or signature.
Contactless payments with Visa are based on the Visa payWave technology, which has been implemented in the new generation terminals that Shell is introducing. The acceptance will be enabled by the acquirer Barclays.
In recent news, Visa and fraud management services developer Ethoca have joined forces to release a service which will notify e-commerce merchants of fraudulent transactions, enabling them to prevent the attack.
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