I attended a briefing from Visa Europe yesterday, about its V.me digital wallet. Here’s what Visa said:
V.me is more than a mobile digital wallet. Customers will be able to use V.me to make online payments too. It lets users check out at online stores using a one-click solution that remembers card details from multiple providers (including MasterCard and American Express cards) as well as billing details and postal addresses.
V.me is not just about mobile contactless payments. V.me will support a variety of ways to initiate payments including bar codes and QR codes, as well as NFC.
Visa intends to distribute V.me through its member banks, much as Visa cards are distributed today. BBVA will be the first issuer in Spain.
V.me is already in extended pilots in the UK and Spain to test the system and will launch formally in both countries soon. France will be next. V.me will start rolling out into stores in the UK next spring. Officially V.me will be available in France, Spain and the UK by next summer. (Visa Inc has already launched V.me in the US).