V Pay
V Pay (proper spelling "V PAY" debate [ VI peɪ ] with "v" as in "Visa") is one of Visa Inc. introduced debit card . It is a European payment card based on EMV technology (a chip technology) with a PIN function.
history
V Pay was introduced in 2006, alongside the existing Visa Electron debit card , initially in Luxembourg, France, Germany and Italy. Since around 2010, the issue has been increasing in Germany. It has existed in Switzerland since the beginning of 2014. From 2020, Visa V Pay will expire and replace it with Visa Debit .
acceptance
According to Visa Inc., V Pay meets the requirements of European credit institutions and the uniform European payment market ( SEPA - Single Euro Payments Area ). With a V-Pay card, cash can be withdrawn and paid cashless in most European countries if EMV technology with chip and PIN is available.
The V-Pay card is accepted where the corresponding logo is attached. V-Pay cards from German banks usually also contain the Girocard application (so-called co-branding) and then also work at the German acceptance points with the Girocard logo (other V-Pay cards, however, not necessarily, the merchant needs a corresponding acceptance contract for this ).
functionality
The data required for the transaction are only stored in the chip, not on the magnetic stripe, in order to prevent magnetic stripe skimming . From the introduction to 2013 there was no case of skimming.
Paywave is the NFC payment system for contactless payments with Visa or V-Pay cards. For amounts up to 25 euros, payment is usually made without further legitimation by PIN or signature. Any additional amounts must be confirmed with a PIN or signature. Some providers set a higher limit. With V Pay this authorization can only be done with a PIN. The availability can be seen directly on the map by the NFC symbol.
See also
- Maestro card from Mastercard , a competing product
- Girocard , the debit card system of the German banking industry
Web links
- V Pay section on the Visa website
Individual evidence
- ↑ V PAY is the European debit card . visa.co.uk. Retrieved July 30, 2016.
- ↑ V PAY: How to Accept the Visa Debit Card.Retrieved March 2, 2013.
- ↑ Visa is switching from V-Pay to Visa Debit . kreditwesen.de. May 17, 2019. Retrieved May 17, 2019.
- ↑ New debit cards from Swiss banks. In: moneyland.ch. February 17, 2020, accessed on March 1, 2020 : "The V-Pay card from Visa will no longer be issued from 2021."
- ↑ Everything about the DKB V Pay card
- ↑ Countries that accept the V Pay card . ING Group . Retrieved May 17, 2019.
- ↑ Visa Europe: V PAY. Retrieved June 14, 2018 .
- ^ Access Denied. Retrieved June 14, 2018 .
- ↑ a b Angela Barandun: " Banks are rehearsing the uprising against the plastic money top dog ", Tages-Anzeiger of December 18, 2013 (accessed August 5, 2014).
- ↑ Tom König: “ Waiting loop: Visa, I'll take your freedom ”, Spiegel-Online from August 12, 2013 (accessed August 5, 2014).
- ↑ NFC limit increased at DKB? Retrieved August 8, 2018 .
- ↑ Contactless payment. Retrieved August 8, 2018 .
- ↑ Visa Europe: V PAY. (No longer available online.) Archived from the original on July 31, 2017 ; accessed on July 30, 2017 . Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ↑ Pay contactless . Visa.de, accessed on August 29, 2018.
