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 or Italy's PagoBancomat. V PAY is designed to provide a SEPA-compliant card that enables usage across the whole of Europe, and to compete with MasterCard's similar Maestro debit card product. V PAY is mainly a card to be used in store as not much banks support V PAY transactions for internet purchases yet. A couple of French and Italian banks allow their consumers to pay online using V PAY. Merchants willing to accept V PAY online should contact their Payment Service Provider to know whether this brand is supported. Merchants would also need to contract a Merchant Acquirer to be able to accept V PAY transactions in their web shop and receive payment. V PAY ecommerce requires that the online merchant has implemented Verified by Visa.
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E-wallets will equal cards as the most popular payment method globally.
In 2012, $295 billion was processed through e-wallet payments. This is set to rise to $1,656 billion by 2017.
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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 or Italy's PagoBancomat. V PAY is designed to provide a SEPA-compliant card that enables usage across the whole of Europe, and to compete with MasterCard's similar Maestro debit card product. V PAY is mainly a card to be used in store as not much banks support V PAY transactions for internet purchases yet. A couple of French and Italian banks allow their consumers to pay online using V PAY. Merchants willing to accept V PAY online should contact their Payment Service Provider to know whether this brand is supported. Merchants would also need to contract a Merchant Acquirer to be able to accept V PAY transactions in their web shop and receive payment. V PAY ecommerce requires that the online merchant has implemented Verified by Visa.
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