London, 12 February 2013: Visa Europe today confirmed that Nationwide Building Society is preparing to offer the V.me by Visa digital wallet in 2013, making it even easier for customers to pay for their purchases online.
Due for a UK-wide rollout in 2013, an initial trial for the V.me by Visa service is currently underway with UK launch partner RBS. Banks representing 80% of all consumers are already committed, while by 2020, Visa Europe believes that one-third of all European consumers will be using V.me by Visa.
Chris Rhodes, Executive Director of Group Retail at Nationwide, said: "Nationwide is pleased to be working with Visa on the launch of the V.me by Visa digital wallet. An increasing number of our members are using their credit and debit cards when making purchases online. V.me by Visa will allow our customers to take advantage of a simplified checkout process that will not only speed up the time it takes to pay for their goods, but will provide them with a high level of security."
Mariano Dima, Executive Vice President of Product and Marketing Solutions at Visa Europe, added: "This is a fantastic milestone for V.me by Visa and we are delighted to be working with Nationwide to offer the V.me by Visa service to its customers across the UK."
V.me by Visa allows consumers to make easy online payments through the internet browser on a PC, laptop, tablet, or smart phone. Full customer card details are not passed on to the retailer, helping encourage consumers to shop more online. The streamlined online experience is designed to reduce the number of consumer’s abandoning purchases at checkout and, in turn, uplift in sales conversions for merchants.
The V.me by Visa service will continue to evolve post-launch to incorporate other Visa payment technologies, including contactless transactions at the point of sale and person-to-person payments.
For further information please visit the V.me website at http://uk.v.me.
About Visa Europe
Visa Europe is a payments technology business owned and operated by member banks and other payment service providers from 36 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. 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 466m 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 September 2012, over €1 trillion (€1.02bn) was spent on Visa debit cards. Annual online spending on Visa cards in Europe topped €200 billion (€202bn) 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 www.visaeurope.com.
Nationwide is the world's largest building society as well as the second largest savings provider and a top-three provider of mortgages in the UK. It is also a major provider of current accounts, credit cards, ISAs and personal loans. Nationwide has around 15 million members.
Customers can manage their finances in a branch, on the telephone, internet and post. The Society has around 16,000 employees. Nationwide's head office is in Swindon with administration centres based in Northampton, Bournemouth and Dunfermline. The Society also has a number of call centres across the UK.
For more information, please visit http://www.nationwide.co.uk/