V PAY

This article is about a European debit card. For the US payment system, see VPAY.
V Pay logo

V PAY is a type of debit card issued by Visa Europe. It provides a fully chip & PIN based card that may be co-branded with various national debit card schemes, such as the German Girocard[1][2][3] or Italy's PagoBancomat.[4] V PAY is designed to provide a SEPA-compliant card that enables use across the whole of Europe,[5] and to compete with MasterCard's similar Maestro debit card product. V PAY began to be accepted at merchants in France and Greece in 2005,[6] and acceptance has since expanded to more European countries. By 2010, 14,000,000 V PAY cards had been issued .

V PAY, unlike its main competitor Maestro, may not be used in non-chip and PIN environments, limiting its acceptance to those countries and merchants that have upgraded to this system, and increasing the safety against fraud. Unlike Maestro, which is issued and accepted globally, V PAY is designed as a specifically European product, and is not issued (with one exception)[7] or accepted outside European countries.[5]

External links

References

  1. "V PAY technical requirements".Archived July 1, 2014, at the Wayback Machine.
  2. "Postbank migrates bank cards to V PAY/girocard".
  3. "German banks have agreed to issue 34 million V PAY".
  4. "CarigeCash Europa: la carta bancomat per prelievi ed acquisti sicuri".
  5. 1 2 "V PAY Banks". Archived June 25, 2014, at the Wayback Machine.
  6. "France and Greece are first countries to accept V PAY".
  7. "V PAY CARD - Service Credit Union".
This article is issued from Wikipedia - version of the Saturday, April 23, 2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.