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More banks sign on for Visa’s digital wallet

November 20, 2012

Merchant services provider Visa has announced that more than 50 additional banks and credit unions have signed on to offer customers the company's digital wallet service, V.me.

Merchant services provider Visa has announced that more than 50 additional banks and credit unions have signed on to offer customers the company’s digital wallet service, V.me.

The service works by allowing consumers to attach their credit card information to their V.me accounts. Then, when they shop via a PC or mobile device, such as a smartphone or tablet, they just need to enter their usernames and passwords. The service is being touted as a secure way to make online and mobile payments without the hassle of having to enter and re-enter credit card information, billing and shipping addresses.

Visa’s new partners in the financial industry will allow the company to reach as many as 55 million cardholders in the United States. And you don’t need to have a Visa card to have a V.me account. Those with MasterCard, American Express or Discover cards affiliated with Visa’s partners can use it as well.

Tech Crunch reports that V.me will launch internationally and at local point-of-sale terminals in early 2013. However, Visa has already established 23 ecommerce retail partners that are already utilizing the service. They include 1-800-FLOWERS.COM, Shoebuy.com, Cooking.com, Buy.com, Blue Nile and others.

Visa’s wallet service is just one of several available to consumers. Others include Google Wallet, Amex’s Serve, MasterCard’s PayPass, Square, PayPal and Isis.
 

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