Visa Expands Issuer Strategy in U.K.

Feb. 14, 2013

Nationwide Building Society last week agreed to begin offering its customers the opportunity to enroll their existing payment cards in the digital wallet, according to Visa Europe. The move is an international expansion of a strategy Visa launched in the U.S. last fall seeking to increase adoption of the company’s digital wallet service by partnering with large issuers and retail banks. The partnership with Nationwide is the beginning of a U.K.-wide rollout of the service this year, with banks representing 80 percent of the country’s consumers on board.

“An increasing number of our members are using their credit and debit cards when making purchases online,” said Chris Rhodes, executive director of Group Retail at Nationwide . “ by Visa will allow our customers to take advantage of a simplified checkout process that will not only speed up the time it takes to pay for their goods, but will provide them with a high level of security.”

Visa Europe said it expects a third of European consumers to be using its digital wallet service by 2020.