V.me digital wallet in Spain

London, 24 October 2012 - Visa Europe today confirmed that BBVA will be the first financial institution to launch the V.me digital wallet in Spain.

The BBVA wallet will launch a trial project in November 2012, with a full commercial launch to follow in 2013, making the wallet available to BBVA’s customers across Spain.

Mariano Dima, Executive Vice President, Marketing and Products at Visa Europe, said: "V.me is the new way for consumers to pay online, creating an easier, faster and more convenient shopping experience. We are delighted to announce BBVA as the launch partner for Visa’s V.me wallet in Spain and we look forward to rolling the service out to customers across the country."

David Puente, Business Development director at BBVA Spain and Portugal, said: “At BBVA we have seen a rapid growth in e-commerce demand from our customers. We have been working closely with Visa to develop the V.me service and we are pleased to become the first partner to launch the V.me digital wallet in Spain. The wallet allows our cardholders to use a swift and secure payment method for online transactions, backed by two renowned and innovative brands. The BBVA V.me wallet will also allow our merchants – both small businesses and larger retailers – to increase the reach of their internet business.”

V.me by Visa offers a unique level of security as customer card details are not passed on to the retailer, a feature that encourages consumers to shop more online.

V.me by Visa also offers a fast one-click (on login) payment experience, allowing consumers to make easy online payments through the internet browser on a PC, laptop, tablet, or smart phone. As a result, both consumers and retailers can benefit from all the security and scale of the Visa brand. The streamlined online checkout experience also means a decrease in consumer cart abandonment and in turn, an uplift in sales conversions for the merchants.

V.me by Visa 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 consumers, members and retailers. The 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.

V.me by Visa will also launch in the UK in autumn 2012 and France soon after.

About Visa Europe

In Europe, there are 460 million Visa debit, credit and commercial cards. In the 12 months ending June 2012 those cards were used to make purchases and cash withdrawals to the value of €1.8 trillion. 14% of consumer spending at the point of sale in Europe is with a Visa card, and almost 80% of that is on Visa debit cards.

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 http://www.visaeurope.com/