Yes. In additional to the 24/7 monitoring, we have in place here at the Credit Union, there are a number of security features for Visa cards including:
- Ultra-short read range – generally less than 4cm;
- Each Visa payWave card has its own, unique, built-in, secret key, which is used to generate a unique code for every Visa payWave transaction;
- Every Visa payWave transaction is authorised securely; and
- The power and global reach of the VisaNet* system to help prevent fraudulent transactions.
*VisaNet is the global payment system, including security and technology which operates the Visa network.
A number of merchants are also part of the Verified by Visa program. This means you may be asked to answer additional security questions before you can complete the purchase online.
Even for transactions not covered by Visa Zero Liability, there is protection against unauthorised or fraudulent activity on your account under the ePayments Code (monitored by the Australian Security and Investment Committee).
Also remember, you remain in control of your card during the entire transaction, further reducing the risk of fraud.