New Visa card with EMV system

V PAY is a chip and PIN only product, with no legacy requirement to support manual imprinting, cardholder signature and magnetic stripe reading. 17 million cards will be change.

The European payments industry has invested heavily into a
modern EMV chip infrastructure. It enables banks to take a big step forward
with their payments business. This creates a platform that is cheaper for banks
to operate, more efficient for merchants to accept and safer for cardholders to
use. V PAY also provides a way for banks and merchants to migrate more payments
– particularly those of lower value – from cash to cards. This will bring
greater convenience and security to consumers and it will ensure big efficiency
gains and cost reductions to banks and merchants alike.
At the moment 4 million merchants and 250,000 ATM can accept  V PAY, the first card were given by Italian
Banca Carige.