Visa launch new service to make online shopping simpler
V.me allows users to enter all their personal details and card information just once, then use a single username and password to make purchases at any one of thousands of online retailers
A new online payment system from Visa designed to make online shopping easier by removing the need to share card details with retailers has launched across Europe today.
The V.me service allows users to enter all their personal details and card information, then just use a single username and password to make purchases at any one of, eventually, thousands of online retailers. The service also supports multiple debit or credit cards.
The V.me digital wallet can be accessed through a browser on a PC, laptop, tablet or smartphone and consumers will be able to put any card from a major scheme into it, regardless of the card issuer.
The service is now live in the UK, France, Spain and Poland, with Nationwide Building Society being the first financial institution in Britain to support it.
Visa claim that the service will increase consumer confidence in online shopping and reduce the proportion of sales that are abandoned during the checkout process due to frustration at having to enter details or for fear of providing card details to a third party.
More than 1,400 merchants accept V.me from today, with soon-to-launch retailers including Universal Music in the UK and Allopneus, Aquarelle, Brandalley, Leclerc Drive, Made.com and Pecheur.com in France.
By January Visa hopes to have up to 4,000 online shops accepting V.me, thanks to partnerships with payment companies such as WorldPay. A pilot programme for Ireland will also take place in early 2014, with more launches soon to be announced, claim Visa. Consumers in each country will be able to use their wallet at any European retailer that accepts V.me by Visa.
Steve Perry, chief commercial officer at Visa Europe, said: “V.me by Visa gives merchants and issuers an acceptance mark that will work across Europe. Mobile phones, tablets and the use of digital payments have changed the nature of commerce: consumers want to be able to buy from the merchant of their choice via any device without sharing their card details.”
Graham Beale, Nationwide’s Chief Executive, said: “This will make online shopping easier, faster and more secure for our over seven million credit and debit card customers.”
A staggered launch will see further retailers and issuers adopt V.me over the next few months ahead of a full commercial launch and consumer marketing campaign to raise awareness of the service in late 2014.