V PAY - your European debit card
V PAY is a new European debit solution to meet the needs of European banks.
As a chip-only, PIN-only product, V PAY uses the same EMV* technology that banks and merchants have already invested in. It also helps banks to migrate to a more consistent, pan-European payments market.
About V PAY
V PAY was created by
Visa Europe to meet the needs of its European member banks:
- To help banks develop their debit card programmes - reducing costs, increasing security and enabling cardholders to use their cards for day-to-day spending; thereby displacing less efficient, more expensive payment instruments such as cash and cheques
- To help banks migrate to a more consistent European payments market, in line with the European Commission and European Central Bank's vision of creating a Single Euro Payments Area
- To ensure that banks maintain ownership and control over local and regional debit card payments through the creation of local and regional decision-making bodies
Further information
Banks should contact their Visa relationship manager.* International chip card standards developed by Europay, MasterCard and Visa