Must be £25 or under if conducted in a face-to-face environment
Must be £50 or under if conducted in discount stores and supermarkets
Must be authorised by the card issuer
No. Merchants do not need to sign up with Visa to participate in the VEPS programme. There is no additional fee.
Changes to the device are not mandatory, but may be beneficial to streamline transactions. Merchants should work with their acquirer to determine if device changes are needed.
Merchants using magnetic stripe, chip, and contactless technologies can all benefit from VEPS. All VEPS qualifying transactions follow normal acceptance procedures. The major difference? No signature is required and receipts are only required by request.