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V Pay

Product typeDebit card
OwnerVisa Inc.
CountryUnited States
Related brandsVisa Electron, Visa Debit
MarketsEurope
Websitewww.visa.com

V Pay is a Single Euro Payments Area (SEPA) debit card for use in Europe, issued by Visa Europe.[1] It uses the EMV chip and PIN system and can be co-branded with various national debit card schemes such as the German Girocard[2][3][4] or Italy's PagoBancomat.[5]

Overview

The V Pay debit card system competes with the Mastercard Maestro debit card product. However, unlike Mastercard Maestro, V Pay cards cannot be used in non-EMV environments, limiting its acceptance to those countries and merchants that use this system. Also unlike Mastercard Maestro, which is issued and accepted globally, V Pay is designed as a specifically European product, and is not issued or accepted outside European countries except for some of their overseas territories.[1] However, some cards are co-branded with the Visa Electron system, which allows using them outside Europe.[6]

V Pay cards began to be accepted at merchants in France and Greece in 2005,[7] and acceptance had since expanded to more European countries.

However from 2019, the V Pay system is gradually phased-out in favor of Visa Debit.[8]

References

  1. ^ a b "V PAY – Your European debit card". Archived from the original on June 25, 2014. Retrieved August 6, 2011.
  2. ^ "V PAY technical requirements". Archived from the original on July 1, 2014. Retrieved August 6, 2011.
  3. ^ "Postbank migrates bank cards to V PAY/girocard". Archived from the original on 2011-10-07. Retrieved 2011-08-06.
  4. ^ "German banks have agreed to issue 34 million V PAY". Archived from the original on 2011-10-07. Retrieved 2011-08-06.
  5. ^ "CarigeCash Europa: la carta bancomat per prelievi ed acquisti sicuri". Banca Carige. Archived from the original on 2013-02-18. (in Italian)
  6. ^ "Het 'Welke bank?' topic". Retrieved 2018-11-01.
  7. ^ "France and Greece are first countries to accept V PAY". Visa Europe. 8 July 2005. Archived from the original on 2011-10-07. Retrieved 2011-08-06.
  8. ^ "Visa stellt von V-Pay auf Visa Debit um". kreditwesen.de (in German). 23 May 2019.
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