The leading German credit card acquirer ConCardis has expanded its product portfolio to include the “V PAY” Visa Europe debit card and has successfully executed the first V PAY transaction with its pilot client, the Relais&Chateaux Hotel Burg Wernberg.
Frankfurt, 18. October 2007. ConCardis successfully executed the first V PAY transaction with its pilot client, Burg Wernberg Hotel, using the “Ingenico I 5310” TeleCash terminal. “We believe that service is the fundamental concept behind a successful client relationship. This also means offering as wide a range of payment options as possible”, said Ralf Leidner, Director of Burg Wernberg Hotel. “V PAY means that we can offer a debit solution to our European clients who do not hold credit cards - with immediate effect and no additional technical outlay.”
V PAY is compatible with existing systems and infrastructures, minimising the costs for banks, merchants and acquirers. The only thing that merchants require in order to accept V PAY is an EMV-compatible terminal. In Europe, V PAY is already accepted at 4 million merchants and 250,000 ATMs. The chip and PIN-based payment procedure guarantees the maximum level of security against possible misuse.
The advantage for the merchants and service providers that will settle V PAY transactions via ConCardis in the future is clear: “By accepting V PAY, we are giving our merchants access to a customer base across Europe. At the same time, we are determined the keep the outlay at a minimum for merchants who want to settle additional products. We are all the more delighted that V PAY allows us not only to offer a further key card product, but that acceptance by our clients will be a straightforward process that will not involve any major technical adjustments”, explained Manfred Krüger, CEO of ConCardis GmbH.
By adding V PAY to its portfolio, ConCardis is systematically forging ahead with its corporate strategy of offering its clients “one-stop solutions”. The V PAY offering will allow the company to contribute towards the establishment of an internal European market for payment transactions, and also to position itself as Germany’s SEPA acquirer.