Visa PayWave and FNB delays

[cavedog]

So I'm not sure if it's just FNB but using Visa PayWave aka tap n go does not add a pending charge to your account and only actually gets posted to the account 3-6 days later.

I did some tests on Saturday. Account had Zero balance but all the paywave transactions were approved and only got posted to the account today 6 days later.

Saw a video about the risks of paywave and seeing that it does not add pending transactions to the account someone will only notice tap n go fraud 6+ days later when it gets posted to the account.

Did anyone else also notice this?

 

[Sinbad]

You'll get exactly the same with a card present transaction for a small amount. It all depends how quickly the PoS operator uploads their offline batch

 

[epah]

That’s true. Sometimes my tap n go goes off immediately but most of the time it’s 4-6 days later.

I wonder what happens if you have R100 in your Card, tap for an amount of R100 then go to another store and swipe for that R100. Will the account go into minus when the tap n go finally goes off days later? *

 

[Sinbad]

Yes.

 

[cavedog]

You'll get exactly the same with a card present transaction for a small amount. It all depends how quickly the PoS operator uploads their offline batch

I bought from a Spar in Richards Bay over the weekend. 1 transaction I tapped and instant approved. Second one with less value actually I inserted the card and the pending transaction instantly showed on my account. Both got posted to the statement the same time but inserting the card reserves the funds but so far no one tap n go transaction for my FNB Premier account reserved funds.

Even moved all my money to my CC and tapped the card and the transaction got approved with no over draft and a zero available balance. This was a FNB card on a ABSA speedpoint if that even matters.

 

[Sinbad]

When you inserted the card, it did an online transaction. Not related to tap vs online, more likely because of the second transaction on the same card number. Or possibly randomly selected for online auth.

 

[cavedog]

That’s true. Sometimes my tap n go goes off immediately but most of the time it’s 4-6 days later.

I wonder what happens if you have R100 in your Card, tap for an amount of R100 then go to another store and swipe for that R100. Will the account go into minus when the tap n go finally goes off days later? *

Yes it does. I moved all my money out and swipe with pin declines but tap n go instantly approves. When it gets posted to the account 6 days later account would go into the minus.

I suspect if you tap n go but it asks for pin then if you don't have funds it will decline but if it does not ask for a pin if you tap n go then even a zero available balance the transactions approves like in 1 or 2 seconds.

 

[cavedog]

When you inserted the card, it did an online transaction. Not related to tap vs online, more likely because of the second transaction on the same card number. Or possibly randomly selected for online auth.

Interesting though.

So Guys if you have a PayWave card and lose it stop it ASAP.

 

[Sinbad]

Interesting though.

Watch the PoS as it's used next time. Sometimes it just approves immediately, sometimes it will connect to auth. Depends on lots of factors.
I know that when I use fnb pay (phone nfc) it goes online every time.