New processor opens up its e-commerce merchant portfolio to the V.me by Visa digital wallet service
London, 4 April 2013: Visa Europe today confirms that Global Payments will be the second card payments processor to support the launch of the V.me by Visa digital wallet service in the UK.
Global Payments, the UK’s third largest card payments processor, will use its relationships with retailers across the UK to ensure that the V.me by Visa acceptance network grows rapidly from launch.
The V.me by Visa digital wallet service will be available from and promoted by Visa’s members including RBS, NatWest and Nationwide. It’s easy for consumers to pay through the internet browser on a PC, laptop, tablet or smartphone. Consumers will be able to store all their debit, credit and prepaid cards into the wallet and then use them to pay at accepting retailers without entering card details.
For retailers, V.me by Visa offers the opportunity to improve online sales by attracting new shoppers, reassured by the fact that their card details are not shared, and increasing sales to existing customers due to a streamlined checkout process designed to drive up conversion rates and shopper satisfaction.
Duncan Olby, Senior Vice President, Visa Europe said: “The retail community is incredibly important to us and we've designed V.me by Visa to improve sales for retailers. V.me by Visa is fully optimised for mobile (e)commerce, easy to use and gives shoppers confidence and peace of mind when they pay online because we shield their card details. We’re delighted to be working with Global Payments to make the service accessible to retailers who are looking for an innovative payment solution and value the expertise and consumer relationships that Visa and its member banks have."
Chris Davies, Managing Director from Global Payments said. “This represents the next natural evolution of e-Commerce, providing greater convenience and speed for retailers and consumers. Global Payments is pleased to be an early adopter of this solution as part of our commitment to driving forward new developments in payments technology.”
E-commerce currently represents 22% of Visa Europe’s transactions and grew 44% between 2009 and 2011. The V.me by Visa digital wallet service is the natural next step in the development of Visa’s e-commerce strategy.
V.me by Visa demonstrates the company’s continued commitment to payments innovation and to bringing new services to market that benefit its members, retailers and consumers.
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 members 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
About Global Payments
Global Payments in the UK (formerly HSBC Merchant Services) was acquired by Global Payments Inc. in 2009 and specialises in card payment processing for merchants ranging in size from multinationals to owner-managed businesses. Every year Global Payments Inc. processes billions of transactions for over one million merchant locations worldwide.
Global Payments terminals feature some of the most up-to-date technology in the industry, and our comprehensive services include alternative payment methods from contactless cards to near-field communication (NFC) enabled mobile phones, stickers and wristbands.
Global Payments is a trading name of GPUK LLP, a limited liability partnership registered in England, with a Head Office in Leicester and offices in London and Sheffield. Visit www.globalpaymentsinc.co.uk for more information about the company and its services.