V.me Officially Launches in UK
May 7, 2015
V.me, Visa’s digital wallet that was replaced in the U.S. last year by Visa Checkout, is alive and well in Europe. This February, Visa announced Visa Checkout was launching in 13 more countries including Brazil, China, Mexico and Singapore, and it is now clear why no mention was made of the U.K or any other European markets. Visa Europe announced on Tuesday the official launch of V.me in the U.K. The association said 60 million cardholders in the U.K. now are able to sign up for V.me through their issuing banks and, once their payment details are added to the account, can pay at thousands of online retailers using just a username and password, rather than entering payment information at multiple merchant web and mobile shopping sites.
“A recent study by Accenture found that almost half of consumers surveyed plan to increase the number of their online purchases in the future, so we think that the V.me digital payment service is as important for the online environment as contactless is in the face-to-face environment,” said Wendy Martin, executive director of V.me by Visa. “The uptake of the service by retailers and banks across the country will further enable frictionless commerce, making online shopping—particularly checking out—easier, quicker and safer for the consumer, reducing the abandonment rate for merchants.”
By the end of 2015, Visa Europe said, V.me will be commercially available to the majority of internet shoppers in the U.K.