Visa and V PAY cardholders are set to be able to pay mobile and contactless up to an amount of 25 EUR, without PIN or signature. If the amount is higher, the customer authorizes the payment with their PIN or signature. Every transaction is noted on the monthly Visa card statement. When paying with a V PAY contactless card, the debit card of Visa Europe, the amount will be charged to the bank account and will be listed on the monthly account statement.
Retailers need a NFC-enabled terminal and the software to accept mobile and contactless payments with Visa and V PAY. The customer either holds his contactless Visa card or his smartphone with the Visa contactless function in front of the reader in order to make the payment.
Contactless payments with Visa and V PAY are based on the Visa contactless NFC-technology. This technology is supported in all GALERIA Kaufhof department stores as of October 2013.
In recent news, Visa has teamed up with prepaid processor i2c, to bring prepaid solutions in Asia-Pacific, Central Europe, Middle East and Africa (APCEMEA).
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