Visa delays launch of V.me digital wallet
Visa has delayed the UK launch of its V.me digital wallet until the autumn, rather than ‘early 2012’ as announced in November.
Users of V.me will be able to store their card details in their digital wallet, and will be able to pay online via a smartphone, PC or tablet.
V.me will be accessed through an internet browser, differentiating it from other recently launched digital wallets which operate as smartphone apps.
Customers will also be able to pay at Point of Sale terminals in-store, using a phone equipped with Near Field Communication (NFC) technology.
Visa will offer the UK service in partnership with payments processor WorldPay.
The service will be compatible with non-Visa cards, including MasterCard and American Express.
It will also be launched in Spain and France in the autumn before being rolled out to other markets.
e-commerce currently accounts for 22 per cent of transactions handled by Visa and it hopes to increase this significantly.
Mariano Dima, Executive Vice President of Product and Marketing Solutions at Visa Europe said: “V.me sits at the heart of Visa’s future of payments.
“For the first time, consumers and retailers will have a streamlined online checkout experience through an acceptance mark that offers industry-leading security and, when a Visa card is used in a V.me wallet, the same protection and rights that come with any Visa card transaction,”
The launch of V.me will follow Visa’s recently launched PayTag contactless payment card.
Barclaycard PayTag is a sticker which is just one third of the size of a standard credit card.
The card can be stuck to the back of phone allowing users to make contactless payments without having to upgrade their phone to one with NFC technology.
Payments up the value of £15 can be made with the card, simply by holding it over a payment terminal, and this will increase to £20 in June.