News

Visa Europe confirms launch date for V.me digital wallet

WorldPay announced as key UK development partner

London, 30 April 2012 — Visa Europe today confirms that its new digital wallet service, V.me by Visa, will launch to an initial group of consumers in the UK, Spain and France in autumn 2012.

Today also sees the announcement of payments processor WorldPay as a key development partner in the delivery of the V.me service in the UK. Further development and launch partners in each market, including banks and retailers, will be announced soon.

The service will be made available through Visa’s member banks and will initially be accessed through the internet browser on a PC, laptop, tablet or smartphone. Consumers will be able to put multiple cards into the wallet.

For retailers, it offers the opportunity to streamline the customer checkout process, driving up conversion rates and shopper satisfaction.

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.

"Our intention is that V.me will ultimately be able to incorporate any or all of our new payment technologies, allowing our members to deliver the best possible payments experience whether face-to-face, online or in a mobile environment. This comprehensive service suite, delivered under the V.me umbrella, will offer an easy way to benefit from the scale, security and reliability of Visa."

WorldPay is providing commercial and propositional insights to ensure that V.me is designed with a focus on meeting retailer needs and expectations.

Phillip McGriskin, Chief Product Officer at WorldPay, adds: "Shoppers are driving the demand for more convenient, secure and safe ways to pay online. V.me is being developed specifically to address those needs. WorldPay has partnered with Visa Europe to ensure the proposition matches merchant requirements and is an attractive and practical digital wallet solution in what is fast becoming a crowded marketplace."

E-commerce currently represents 22% of Visa Europe’s transactions and grew 44% between 2009 and 2011. The V.me digital wallet service is the natural next step in the development of Visa’s e-commerce strategy.

V.me plays a key part in Visa Europe’s future of payments strategy, reflecting the company’s continued commitment to payments innovation and to bringing new services to market that benefit its members and retailers.
 

About Visa Europe

In Europe, there are 445 million Visa debit, credit and commercial cards. In the 12 months ending September 2011 those cards were used to make purchases and cash withdrawals to the value of €1.7 trillion. 14% of consumer spending at point of sale in Europe is with a Visa card, and almost 80% of that is on Visa debit cards.

Visa Europe is owned and operated by more than 3,700 European member banks and was incorporated in July 2004. Visa Europe is independent of global Visa Inc., with an exclusive, irrevocable and perpetual licence in Europe, while both companies operate to ensure global interoperability. As a dedicated European payment system Visa Europe is able to respond quickly to the specific market needs of European banks and their customers - cardholders and retailers - and to meet the European Commission’s objective to create a true internal market for payments.

Visa enjoys unsurpassed acceptance around the world. In addition, Visa/PLUS is one of the world’s largest global ATM networks, offering cash access in local currency in over 200 countries.

For more information, visit www.visaeurope.com