3V is a payment solution in operation in Netherlands, Ireland, Canada and in the United Kingdom. The system was originally also in operation in Germany and Spain, but it was phased out in these countries in late 2009. It allows anybody over 16 years of age to purchase a "3V Voucher", effectively a Visa-branded debit card, for cash through a network of retailers. The value purchased can then be spent in any cardholder-not-present transaction until the end of the month following the month of issue.
To purchase a 3V voucher, it is first necessary to register online and receive an identification card in the mail. It was previously possible to pick up identification cards in retail outlets but regulatory considerations now prevent this.
Customers can purchase the amount required in 3V credit and use it in several transactions. They also have the same reversal and chargeback rights as regular credit card holders in case of fraudulent use or failure of retailers to fulfill orders, and if money is lost it is limited to the amount of credit purchased originally.
To increase security, the card number is printed onto the voucher issued from the retailer's terminal, but the expiry date and CVV of the virtual card are sent separately, either by SMS or email to the purchaser.