Visa Europe presents V PAY the European debit card at CeBIT 2006
Frankfurt, March 9, 2006
Visa Europe, Europe's leading payment system, will showcase the first V PAY debit card with electronic cash function at the 2006 CeBIT in Hannover, Germany. Visa Europe in cooperation with SRC Security Research & Consulting GmbH, will demonstrate a co-badged version of V PAY and electronic cash - Germany's domestic debit scheme.V PAY cards conform to the technical and security requirements of "electronic cash" and carry a SECCOS chip, which is compliant with ZKA (Zentraler Kreditausschuss) regulations.
Jon Prideaux, Executive Vice President, Visa Europe comments, "V PAY is a chip and PIN only product designed to bring the European debit card into the 21st century. Visa is pleased to demonstrate V PAY at CeBIT this year. We want to show banks, merchants and cardholders how a truly pan-European debit card can be used both locally and abroad and meet the vision of a SEPA pan-European payment product."
In addition to the V PAY and electronic cash debit card, a co-badged pilot programme with Luxembourg's Bancomat debit card scheme will also be showcased at CeBIT.
Visitors to CeBIT can see and experience a demonstration of V PAY. They can take a V PAY card and visit other participating stands to make V PAY transactions. At the SRC/Visa Europe stand they can make either V PAY transactions or "electronic cash" transactions and see the additional services and functions that a SECCOS-based V PAY chip card can provide. These include, for instance, customer-selected PINs, language preferences and the storage of mobile telephone numbers in the chip for prepaid top-up transactions at ATMs. These are just several of the optional additional features which help to make V PAY an ideal modern-day debit product for banks wanting to offer a more attractive multi-function product to their customers and differentiate themselves against competitors.
For more information about Visa Europe, V PAY and SRC Security, Research & Consulting please visit us at CeBIT 2006 in hall 17, stand A01 (32).
V PAY benefits at a glance:
- Is an EMV chip and PIN only debit product
- Is compatible with local market account numbering structures supporting 16-19 digit account numbers beginning with 4, 5 or 6. That means issuers, acquirers and merchants in those markets can use their existing systems and infrastructure with minimal changes
- Can be co-badged with domestic debit brands during the transition to the SEPA type product requested by the European Central Bank and the European Payment Council are calling for
- Option to carry the PLUS mark enabling global access to ATMs
- Is compatible with all EMV compliant terminals
