Visa unveils new V.me digital wallet service
Visa has unveiled plans to launch a new digital wallet service called V.me in Australia before the end of the year to make it easier to shop online.
V.me aims to streamline the online shopping experience so all users have to do to purchase an item is enter a username and password.
The new Visa digital wallet will allow customers to store their credit card information and shipping information.
V.me will also make it possible to set transaction alerts for their Visa card like spending thresholds.
“Building on the successful launch of V.me in the US, Visa is now set to deliver this new service to Australian consumers in time for Christmas 2013,” said Vipin Kalra, Visa’s country manager for Australia.
“Consumers are increasingly shopping online where they are faced with a cumbersome checkout process, and need to enter personal account information repeatedly when making a purchase.
“V.me streamlines the process and addresses the growing consumer desire to shop online from any device with ease and simplicity.
“V.me will take the friction out of online payments, benefiting both the consumer and the merchant.”
The service will be accessible from a computer, smartphone or tablet and protected by a multiple layers of security.
Consumers will be able to sign up and use the V.me service for free.
Greg Storey, Visa’s head of V.me for Asia Pacfic, Central Europe, Middle East and Africa says the new service will be a game changer for customers.
“We intend to offer V.me to all Australian eCommerce merchants. We’re excited about improving the eCommerce checkout experience and helping to boost the sales of Australian merchants who are investing in improvements to their eCommerce sales channel,” Mr Storey said.
“The initial reaction we have had from merchants has been fantastic. We have a number on board already, including JB Hi-Fi, Cotton On, City Beach and Lorna Jane, who will participate in V.me to provide their online customers with a convenient and secure way to pay.”
Already more than 40 financial institutions have signed up to partner with V.me and offer it to their customers including ANZ, National Australia Bank, Westpac, Suncorp, Citigroup and ING Direct.