Visa to launch the digital wallet in early 2012

Visa has chosen the name for its upcoming digital wallet, which is expected to be launched in early 2012 after a beta period, reports. will allow customers to fund an account via their Visa card, a MasterCard account or their bank account. Another feature is the fact that customers will log in through a user name and password instead of keying in their 16-digit account number.

Visa has announced that it is working on a ‘send and receive’ money feature which will allow users to send money to each other on the go. The company has also revealed that it will be developing mobile-friendly applications for shopping while using a near field communication (NFC)-powered smartphone or tablet.

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