24 March 2014: Visa Europe has today announced new partnerships with fifteen European Internet Payment Service Providers (IPSPs), giving the V.me by Visa digital wallet service access to their extensive e-commerce merchant portfolios, and supporting the continued growth and availability of the multi-market wallet service.
The agreements increase the reach of V.me by Visa and as a result, Visa expects many more retailers to have access to V.me and be capable of processing transactions by the end of 2014.
V.me by Visa’s new IPSP partners across Europe.
- First Data
- Capita Software Services
- The Logic Group
- Sage Pay
- Worldline, Atos subsidiary in e-payment services
- Payline by Monext
- Payzen by Lyra Network
- Paybox (Point VeriFone)
- Be2Bill (Rentabiliweb)
Wendy Martin, Director of V.me by Visa, said: “We are delighted that so many leading IPSPs have committed to supporting V.me by Visa. Since the service launched in late 2013 we have seen a fantastic response from our issuers and retailers. The relationships we’ve announced today provide us with the scale and reach that will make V.me by Visa into a fully operational commercial service in its launch markets, with pilots underway in several others by the end of 2014.
About Visa Europe
Visa Europe is a payments technology business owned and operated by member banks and other payment service providers from 37 countries across Europe.
Visa Europe works at the forefront of technology to create the services and infrastructure which enable millions of European consumers, businesses and governments to make electronic payments. It is not a credit card company, almost 80% of its business is on debit cards, and its members are responsible for issuing cards, signing up retailers and deciding cardholder and retailer fees.
Visa Europe operates a high volume, low cost business model that provides services to its members. Its surplus is reinvested into the business and used to improve capital and reserves. In the last six years, Visa Europe has invested over €1 billion in new technology and infrastructure.
There are 470m Visa cards in Europe while €1 in every €6.75 spent in Europe is on a Visa card. Almost 80% of Visa Europe's business is on debit cards and, in the year to December 2012, over €1 trillion (1.05tr) was spent on Visa debit cards. Annual online spending on Visa cards in Europe topped €200 billion (€212bn) for the first time in this period and now accounts for more than 20% of Visa Europe’s processed business.
Since 2004, Visa Europe has been independent of Visa Inc. and incorporated in the UK, with an exclusive, irrevocable and perpetual licence in Europe. Both companies work in partnership to enable global Visa payments. 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.
For more information, please visit visaeurope.com and follow us on Twitter: @VisaEuropeNews.