Visa Europe intros Visa payWave

Visa Europe has quietly branded its RFID-based payment card system this week.

Known as Visa payWave, the system will operate in the same way as MasterCard Paypass, with users waving their cards in front of an RFID reader in much the same way as the Oyster card operates on London's transport network.

The European branding, announced yesterday at a Visa Europe meeting in Rome, follows on from the branding of the Visa Wave system in the US and the Far East late last year.

It remains to be seen whether the US and the Far East adopt the payWave branding, or stick to Visa Wave. I suspect they'll do the latter, as Visa Delta is also a European initiative, with Visa debit cards known as V cards in the US.

Why does Visa do this? I suspect it's because Visa debit cards are only accepted as debit cards in their home country - outside of their home country, the retailer is charged the same for processing a transaction whether its a debit or a credit card.

Visa Europe says it plans to launch the payWave system in the UK this coming October...