V.me by Visa, Visa Europe’s Digital payment service continues to grow its European footprint with four new European markets now in pilot
6.00am 23rd October 2014 – Visa Europe is pleased to announce that V.me by Visa is now in pilot with Member banks in Norway, Sweden, Italy and Germany, taking the number of markets live or in pilot across Europe to eight.
Visa Europe confirms ING Direct (Italy), Landesbank Berlin (Germany) and BW-Bank (Germany) have all now made their first live V.me by Visa transactions (supported by WorldPay as European acquirer) and will join leading banks and financial institutions such as Nationwide (UK), BPCE (France) and ING (Poland) in offering the service. V.me by Visa is gaining momentum across Europe with 48 partners live across the UK, France, Spain and Poland, and 6 partners in Germany, Italy, Norway and Sweden now going into pilot. Further members in all markets continue to work with Visa Europe and will be building the volume of wallet providers and retailers over the course of the next 12 months.
V.me by Visa is a bank-branded digital payment service, allowing banks and financial institutions to put their own name and branding on a service that is powered by Visa. Members live or in pilot with the service today are the UK, France, Spain, Poland, Norway, Sweden, Italy and Germany. Markets planning on making the service available during 2015 include Greece, Czech Republic, Slovakia and Switzerland.
In July, Visa Europe announced a further €200m investment to support the development of European digital payment services. This includes a dedicated retailer adoption programme to increase the 26,000 retailers across Europe who already accept the V.me by Visa service. Today, this number includes merchants such as Currys, PC World and Clarks in the UK, Merlin.pl, and E.Leclerc in Poland, Ticketea and PC Componentes in Spain and as recently announced, PMU, PriceMinister-Rakuten, Rue du Commerce, Showroom Privé, UGC and Leclerc Drive in France
Wendy Martin, Executive Director, V.me by Visa, said: “This is great news for V.me by Visa and demonstrates that there is consumer demand for a Member Branded digital payment service, giving customers the confidence they need when shopping online and on the move.
A demonstration of the service is available on YouTube.
About V.me by Visa
V.me by Visa is a pan-European digital wallet service developed by Visa Europe. It makes online shopping simple and secure by removing the need for consumers to enter their card numbers, expiry dates and other personal details every time they make a purchase with an online retailer. V.me by Visa is designed to deliver an improved and streamlined online shopping experience. The V.me by Visa digital wallet can be accessed through the internet browser on a PC, laptop, tablet or smartphone. The service will be made available through Visa Europe’s issuing members and consumers will be able to put any card from a major scheme into the wallet, regardless of the card issuer or payment scheme.
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 www.visaeurope.com and follow us on Twitter: @VisaEuropeNews.