I want to point out two things.
First, The instantaneous velocity of the satellite is not 0. The average velocity, is 0 (net displacement/time). This is because every instantaneous velocity vector is canceled out by a vector pointing in a different direction over the course of one orbit.
Second, acceleration can do two things. It can either change the velocity's magnitude or change the direction of an object. In this case, the acceleration is changing the direction of the satellite. So, even though the velocity's magnitude does not increase, an acceleration is required to keep the direction of the velocity changing. If there was no acceleration, the satellite would go off in a straight line.