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Visa launches V.me digital wallet in Europe

Matthew Finnegan | Nov. 29, 2013
Visa has launched its V.me digital wallet in Europe, with Nationwide the first bank to support the service in the UK.

Visa has launched its V.me digital wallet in Europe, with Nationwide the first bank to support the service in the UK.

V.me allows consumers to complete online transactions through an internet browser on a PC, laptop, tablet, or smartphone. Once card details are uploaded to the digital wallet only a username and password need to be entered to complete a transaction, simplifying the payments process.

Nationwide will be the first UK bank to launch the service, offering it to its six and a half million credit and debit card holders.

The service has also been trialled by Royal Bank of Scotland, but the bank will not be offering V.me to its customers immediately upon launch. Visa said RBS is still working on making the technology available and will be launching "very soon". A number of other European banks will also offer the service from today, including France's second largest bank, Groupe BPCE.

1,400 merchants will accept V.me upon launch, including Curry's and Clarks. Visa expects that this number will increase to 4,000 by the end of January 2014, in part thanks to a partnership with payments processing provider WorldPay.

"Mobile phones, tablets and the use of digital payments have changed the nature of commerce: consumers want to be able to buy from the merchant of their choice via any device without sharing their card details," said Steve Perry, chief commercial officer, Visa Europe. "That's why we're working with our members and merchants to give them the benefit of V.me by Visa's scale and international reach."

In other news, last week Visa announced that it has appointed Electronic Arts CTO Rajat Taneja as executive vice president of technology. Taneja will be responsible for the "development and delivery of innovative products", engineering and technology operations across the company, as well as ongoing research and development.

 

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