Names that seem obvious in retrospect are often the most powerful. So it is with payWave. When Visa came to us to name its new technology that lets buyers wave their credit card instead of swipe it, the client’s instinct was to give it a more technical name.
But because the payment industry is among the most competitive, it was crucial that the name help give the product an edge. We thought a more descriptive name would help ensure the technology’s acceptance in the marketplace; Visa took our recommended approach. The short and evocative name we created, payWave, helped cement Visa’s leadership role in the industry. The product continues to be used widely around the world.