LONDON | Visa Europe confirms that its digital wallet service V.me by Visa will expand to Germany, Ireland, Norway, Sweden and Italy by the end of the year. Pilots will also launch in Greece, the Czech Republic and Slovakia in 2015, taking the total number of markets offering the service to 12.
€200 million investment to support V.me by Visa
Visa Europe is also announcing a further €200m investment to support the development of its European digital payment services. This will include a dedicated retailer adoption programme to increase the 20,000 retailers who already accept the V.me by Visa service. Today, this number includes merchants such as Leclerc Drive, the leading French retailer in the e-commerce area, PC World and Clarks in the UK, and Merlin.pl and E.Leclerc in Poland.
V.me by Visa live markets
V.me by Visa is a bank-branded digital wallet, allowing banks and financial institutions to put their own name and branding on a service that is powered by Visa. The service operates today in the UK, France, Spain, and Poland. Its phased launch has seen selected customers of participating banks offered access to the service, with commercial launches beginning from 2015.
Investment in retailer adoption
Wendy Martin, Executive Director, V.me by Visa, said: “Acceptance and scale are the two big challenges in the expansion and adoption of digital wallets. Our additional investment in retailer adoption across Europe is a reflection of the importance we place on the retailer community.”
A European wallet for European customers
Yesterday, Visa Inc. announced Visa Checkout, a new service that enables payments for ecommerce to be faster, easier and more secure for both consumers and online retailers. Visa Checkout replaces V.me by Visa and is being offered in the United States, Canada and Australia. Martin added: “We believe in a European wallet for our European customers. That’s why we’ve taken the decision to retain the V.me by Visa brand, along with its bank-centric approach. We recognise that some banks have chosen to develop local digital wallet services to meet the specific needs of their market. It’s our intention to work with these services to bring them the benefits of pan-European interoperability, through the V.me by Visa acceptance network.”