Visa Paywave transaction doesnt show up

Wd40 · Post by **Wd40** » Tue, 03 Dec 2013 7:31 pm

Yesterday I used my UOB One card at Fairprice to do a Visa paywave transaction. Today, I login to internet banking and I know it takes a couple of days for the transaction to be posted to my account, but I expected my available credit limit to reflect the transaction immediately.

But strangely, the available credit limit is not affected. I am pretty sure I saw, the paywave transaction went through successfully in the device. The transaction amount was $29. Wierd.

Dert42 · Post by **Dert42** » Wed, 04 Dec 2013 11:26 am

It could take several days for it to post to your account.
It's mostly likely the acquring bank for that fairprice is slow.
Or Visa is slow. It probably has little to do with UOB.

In the States I could use my credit card and see the txn online minutes later.
In Singapore it takes days.

Fortan · Post by **Fortan** » Wed, 04 Dec 2013 2:40 pm

I use Citibank Visa. I can go to the mall next door and pay by Citibank Wave and walk straight back and the money has left my account. No delays there....

Wd40 · Post by **Wd40** » Wed, 04 Dec 2013 2:47 pm

It got posted today. Interesting. I always thought the available balance always gets deducted immediately when a transaction happens, even though the transaction posts later.

Looks like paywave transactions thats not true always.

I use my UOB one card and I need to make sure I spend $800 for 3 months to get a cash back rebate of $80. Last month I spent that amount for airline tickets. This month, I am monitoring my transactions closely and the balance amount, I am going to prepay my sp services bill using credit card at the customer services center for an amount of ~$450, good for atleast next 3 months sp services bill.

Post by **x9200** » Wed, 04 Dec 2013 4:01 pm

The banking here works some mysterious ways. I have a giro with one of the accounts and I was late feeding the account with money by 1 day. Still the giro worked and the transaction was posted as successful with the date when the balance was insufficient.

Fortan · Post by **Fortan** » Wed, 04 Dec 2013 4:25 pm

x9200 wrote:The banking here works some mysterious ways. I have a giro with one of the accounts and I was late feeding the account with money by 1 day. Still the giro worked and the transaction was posted as successful with the date when the balance was insufficient.

Wait for the penalty. 24 hours loan

Post by **sundaymorningstaple** » Wed, 04 Dec 2013 5:21 pm

Yep. It's a courtesy that costs around $35 or more I believe. But it keeps you from having to explain to your vendor that you are busted and need to see the Ah Long.

Post by **x9200** » Wed, 04 Dec 2013 8:19 pm

I am very sure there is no penalty for the giro "no sufficient funds" case so it does not make too much sense to have such financial charges in case a "grace period". So far I see none but will wait till the statement comes. I rather suspect this is sort of inertia. What I could observe in many transactions is that it gets registered at its initiation time rather then the effective execution time so equally well this could be the case of insufficient funds at initiation but sufficient at execution time.

Dert42 · Post by **Dert42** » Thu, 05 Dec 2013 8:47 am

When the card issuing bank and the acquiring bank are the same, the transaction should be available near immediatly because the bank processes it themselves.

When they are different, you could see a delay.
Citi, being a major global brand, acquiers a lot.
UOB, not as much.
There really shouldn't be any difference between a paywave txn and a swipe txn in terms of time to process through the bank networks.

I know these things because the company I work at is the MASTER of credit CARDs.

PrimroseHill · Post by **PrimroseHill** » Thu, 05 Dec 2013 9:28 am

thats funny.

Post by **x9200** » Thu, 05 Dec 2013 10:43 am

Dert42 wrote:When the card issuing bank and the acquiring bank are the same, the transaction should be available near immediatly because the bank processes it themselves.

There are banks (not sure about plural) in Singapore where the transfer between accounts of the same person within the same bank done via online banking can take longer than one day. Hard to believe this is not on the purpose of handling the money longer.

zzm9980 · Post by **zzm9980** » Thu, 05 Dec 2013 7:01 pm

Dert42 wrote: I know these things because the company I work at is the MASTER of credit CARDs.

And I was just going to ask if you worked somewhere that's 'Everywhere you want to be...'

I know a lot of people there in SG, didn't realize MC had sizable office too.

Post by **x9200** » Fri, 06 Dec 2013 8:49 pm

sundaymorningstaple wrote:Yep. It's a courtesy that costs around $35 or more I believe. But it keeps you from having to explain to your vendor that you are busted and need to see the Ah Long.

Confirmed. No fine for the courtesy.

SINGAPORE EXPATS FORUM
Singapore Expat Forum and Message Board for Expats in Singapore & Expatriates Relocating to Singapore

Visa Paywave transaction doesnt show up

Visa Paywave transaction doesnt show up

Who is online