The European government of payment means:
Europe visa welcomes with affability the last report of the BCE on the progress of KNOWS20 of November of 2006 London
Europe visa welcomes with affability the report of the European Central bank: “The vision of the Eurosistema on one “KNOWS for the cards�� that have become public today.
The report of the BCE indicates that “the Eurosistema hopes that arises at least a new European card system in the next years�. Also it adds that this system “will be a key factor in the improvement of the diversity and the competitiveness in the market�.
Also it considers that “the solutions oriented to the shareholders� can take “to excessive increases of prices� and concludes aiming that “the existence of a system more - property of the European organizations financial - would at least reduce the risk of increases of prices�.
Peter Ayliffe, president and adviser delegated Europe Visa, have said: “Although still we must value this report in its totality, we are in agreement with the BCE in which the European government of the payment systems must be one of the key priorities for the future. Europe visa firmly supports the creation of a Unique Zone of Payments in Euros (KNOWS) and of a true inner market of payments: IT KNOWS will increase the competitiveness to the benefit of the consumers. Also, we recognize the necessity and the desire of the European financial organizations to control a so fundamental part of its business�.
“For that reason we announced the past month our commitment to continue being European and independent an association of members: directed from Europe, by the European financial organizations and for the benefit of the European consumers. Our unique structure for of Europe Visa the unique organization of systems of truly Pan-European payment�, has been being addition
“We received from good affability the fact that the report recognizes the necessity of a greater consistency between the European and national regulators concerning the interchange. This is fundamental to assure that in Europe it will be possible to be continued developing modern and innovating a system of payments�.
In order to do of a reality KNOWS, Europe Visa has developed V PAY, a card of debit designed specifically for Europe. V PAY will allow the financial organizations that emit domestic cards of debit solely, to converge easily towards products in agreement with the norm KNOWS that they can be used in all Europe.
V PAY is based on the technology chip and PIN and is totally safe. It will be the product of debit more competitive than it will operate in the market. The fact to have European control systems guarantees that this product is developed in agreement with the needs of the clients and European consumers.
In addition, the new system Europe Visa for the transaction processing already provides to the European financial organizations the last technology, allowing them to operate and to compete in a more open and competitive European market.
The one of January of 2007, a year before the term determined for the entrance in force of KNOWS, all the operative product platforms, regulations, systems of processing and tariffs Europe Visa will be already in agreement with the norm KNOWS. From that same date, all the organizations member financial Europe Visa will be able to emit products Visa in agreement with the norm KNOWS in the 34 countries that are represented in her.
On Visa
In Europe it has more than 315 million cards Visa of credit, debit and of companies. In the 12 months until June end of 2006 those cards they were used to realize distant purchases and of cash by a total volume of more than 1.19 trillions of Euros.Visa is an association formed by members, an organization directed by its 4,500 European financial organizations member, which allows him to quickly take care of the specific needs of the European financial organizations and their clients - titular and commerce, besides fulfilling with the aim of the European Commission to create a true inner market of payments. Europe visa is Visa co-owner the International, the organization who guarantees the global interoperability of her products as well as the management of the mark Visa.
In October of 2006, Visa announced the reconstruction of its organization at world-wide level excluding Europe to create a new company quoted in stock market that will be called Inc. Visa. Like part of this reconstruction, Europe Visa will maintain its structure of association and will operate exclusively with a license in Europe.
Visa is one of the payment marks leaders in the world and counts on a level of matchless acceptance that includes approximately 24 million acceptance points which they include more of a million automatic tellers.
For more information it visits www.visaeurope.com/es
 
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