Forget the hassle of cash and don't worry about card fraud - Visa CEO Fredrik Lindquist shares five concrete tips for a smooth and secure payment experience on your summer vacation. Maybe something that interests you?
The Sweden manager's 5 tips for secure payments this summer:
1. Pay in local currency
If you are asked whether you want to pay in local currency or Swedish kronor at payment terminals abroad, it is safe to choose the local currency.
– It is often cheaper to pay in local currency when paying with a card abroad. The exchange rate at the point of sale is usually determined by the local bank or by the merchant themselves. This rate can be significantly worse than Swedish banks' currency exchange mark-ups. And in some cases you also have to pay a currency exchange fee. So choose local currency, says Fredrik.
2. Pay with your mobile, even abroad.
Digital wallets are increasing in both popularity and usage and are now the second most common payment method in the Nordics. New figures from the Riksbank show that half of those surveyed experience problems paying with cash at home.
– More and more consumers are finding it convenient to pay with their mobile phones. For example, there are more than 2.6 million contactless Visa terminals where you can use Apple Pay in Europe, so pay with your phone or contactless card as you do at home. It's a fast, convenient and secure way to pay, says Fredrik.
3. Do you really need to withdraw cash?
Many travelers take cash out when traveling abroad. Cash can be useful for taxis that don't take cards or for tipping at restaurants. But be aware of how much cash you need to take out.
– It is wise to ask yourself whether you really need to withdraw cash. Card and mobile payments are accepted in more and more places around the world, and Visa is currently accepted in over 130 million places in over 200 countries. The days when you needed cash on your trip are over – today you can pay with a card almost everywhere. Investigate the local payment conditions before you travel, is the advice from the country manager
4. Plan for charging electric cars
Many people enjoy their summer holidays by travelling by car. And with over 600,000 charging stations in the EU, more and more travellers are opting for electric cars. But travelling by car requires planning, including when it comes to payments. There are over 300 companies offering electric car charging worldwide, and they often offer different payment solutions.
– It's smart to plan when and where you need to charge, and how you're going to pay. There are many apps that can guide you to the nearest charger, and most apps offer payment with Visa cards. So plan ahead, relax and enjoy the trip, says Fredrik.
5. Keep track of your expenses
Visa's Country Manager in Sweden has personally experienced unauthorized payments and has clear advice for travelers.
– It is always wise to regularly check your bank statements when abroad. And remember that if you experience unauthorized charges with your Visa credit or debit card, you are protected. Visa offers peace of mind in knowing that you will not be held liable for fraudulent activity, regardless of whether your card is lost, stolen or misused – both online and offline, says Fredrik.
If you experience unauthorized transactions, notify your bank immediately. And you can set alerts in apps that allow you to always monitor your transactions – even when you’re on the go.
According to the press release.
