The new plans are based around allowing Verizon's US subscribers to access their existing phone, text, and data allowances in other countries, rather than buying new plans exclusive to their time abroad. In Mexico and Canada, subscribers can pay $2 per day to tap into their existing plans: for most people, that'll mean unlimited calls and texts and a couple gigs of data. In most other locations, including Australia and countries throughout Europe, Verizon is charging $10 per day for the same access. Overages are $10 per 100MB.
The new plans are going to be much cheaper for short-term travelers, as Verizon previously only offered monthly plans and ludicrous pay-as-you-go rates like $2.05 per MB of data. Its monthly and pay-as-you-go plans are still available as an alternative to the daily plans, which is good because $10 per day adds up fast.