Visa Europe is muscling in on the European mobile payments game with V.me. The online service will allow you to store cards from different agencies (including American Express) for payments online and at NFC-enabled cash registers. It is expected to arrive in the UK, Spain and France in the Autumn, but it'll sadly be too late for it to gain any traction, since we'll have worked out how to glue PayTag stickers to our forehead by then.
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Visa Europe confirms launch date for V.me digital wallet
WorldPay announced as key UK development partner
London, 30 April 2012 - Visa Europe today confirms that its new digital wallet service, V.me by Visa, will launch to an initial group of consumers in the UK, Spain and France in autumn 2012.
Today also sees the announcement of payments processor WorldPay as a key development partner in the delivery of the V.me service in the UK. Further development and launch partners in each market, including banks and retailers, will be announced soon.
The service will be made available through Visa's member banks and will initially be accessed through the internet browser on a PC, laptop, tablet or smartphone. Consumers will be able to put multiple cards into the wallet.
For retailers, it offers the opportunity to streamline the customer checkout process, driving up conversion rates and shopper satisfaction.
Mariano Dima, Executive Vice President of Product and Marketing Solutions at Visa Europe, said: "V.me sits at the heart of Visa's future of payments. For the first time, consumers and retailers will have a streamlined online checkout experience through an acceptance mark that offers industry-leading security and, when a Visa card is used in a V.me wallet, the same protection and rights that come with any Visa card transaction.
"Our intention is that V.me will ultimately be able to incorporate any or all of our new payment technologies, allowing our members to deliver the best possible payments experience whether face-to-face, online or in a mobile environment. This comprehensive service suite, delivered under the V.me umbrella, will offer an easy way to benefit from the scale, security and reliability of Visa."
WorldPay is providing commercial and propositional insights to ensure that V.me is designed with a focus on meeting retailer needs and expectations.
Phillip McGriskin, Chief Product Officer at WorldPay, adds: "Shoppers are driving the demand for more convenient, secure and safe ways to pay online. V.me is being developed specifically to address those needs. WorldPay has partnered with Visa Europe to ensure the proposition matches merchant requirements and is an attractive and practical digital wallet solution in what is fast becoming a crowded marketplace."
E-commerce currently represents 22% of Visa Europe's transactions and grew 44% between 2009 and 2011. The V.me digital wallet service is the natural next step in the development of Visa's e-commerce strategy.
V.me 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 its members and retailers.