V-pay vs. Visa Electron?

What is difference between both? Which is better?

2 Answers

  • .

    1. V-Pay:

    V PAY is a type of debit card issued by Visa Europe. It provides a fully chip & PIN based card***.

    V PAY, unlike its main competitor Maestro, may not be used in non-chip & PIN environments, limiting its acceptance to those countries and merchants that have upgraded to this system. Also, unlike Maestro, which is issued and accepted globally, V PAY is designed as a specifically European product, and is not issued or accepted outside European countries, limiting its usefulness for travelling abroad.


    *** Banks and retailers are replacing traditional magnetic stripe equipment with smartcard technology, where credit and debit cards contain an embedded microchip and are authenticated automatically using a personal identification number (PIN).



    2. Visa Electron:

    Visa Electron is a debit card available across most of the world, with the exception of Canada, Australia, Ireland and the United States. The card was introduced by VISA in the 1980s and is a sister card to the Visa Debit card. The difference between Visa Electron and Visa Debit is that payments with Visa Electron require that all the funds be available at the time of transfer, i.e., Visa Electron card accounts may not be overdrawn. Visa Debit cards, on the other hand, allow transfers exceeding available funds up to a certain limit. Some online stores and all offline terminals (like on trains and aircraft) do not support Visa Electron because their systems cannot check for the availability of funds.



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    An electron card sometimes has limitations placed on it that visa debit cards don't. We run a business where we process card transactions over the phone - some electron cards do not allow a 'user not present' transaction to be processed - never had this happen with a debit card. Other than this they are similar - you use both at ATM's - both use a pin to process payments in shops and you should be able to order stuff over the internet with both.

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