NEWSROOM by VISA - what is it?

LONDON  | On 30 April 2012 VISA Europe confirmed the 'pre-launch' of their digital wallet product called to an initial group of consumers in the UK, Spain and France in Autumn 2012. Worldpay was announced as their key UK development partner. answers the growing demand for more convenient, secure and safe ways to pay online regardless the device used by the consumer.  Today Visa announced that already over 50 banks have embraced Below a recap on VISA's digital wallet...


What is simplifies the payment experience for online or in-app shoppers. Just by pressing the checkout button integrated to the merchant's webshop or app, customers can check out with a user name and password.  Customers store their credit or debit cards (Visa, MasterCard, American Express, Discover) and shipping addresses in their account. To pay, customers click the checkout button and sign into their account. They confirm their payment details, select shipping address and complete checkout in just a few clicks without leaving the merchants' site.


Merchant Benefits

Customers can complete their purchases in fewer steps, cart abandonment is less likely. No need to enter card and shipping details and therefore checkout is optimized for easy shopping on pc, laptop, tablet and smartphone. Conversion rates expected to increase significantly. Using the information customers have stored in, VISA verifies the identities of returning customers to reduce the risk of fraudulent transactions. Bank-level encryption is offered, and therefore merchants are relieved from the burden associated with handling payment card information during checkout.


How does it work for merchants?

When merchants enroll in, they will be asked for some basic information to register  business and ensure transactions get routed properly. Once they have signed up, all they need to do is copy and paste a few lines of code to their website to be able to accept payments. Merchants can also take advantage of the resources offered in the Developer Center to learn more about integration.


The Process in 5 steps

1. Merchants sign up for a business account

2. They add the button to their site

3. Customers choose to check out with

4. routes the payment information through a secure process, between the customer's bank and the acquiring bank (as normal)

5. Merchant gets paid by acquiring bank.



VISA uses multiple layers of security, including fraud-monitoring systems to keep payment information safe. Their API keys keep every communication secure. Generate encrypted tokens using's MD5 hash algorithms. By handling card data for transactions, VISA helps lowering merchants' PCI compliance burden and the risks associated with holding credit card information.

For more information please visit the website for businesses.


About VISA Europe

In Europe, there are 445 million Visa debit, credit and commercial cards. In the 12 months ending September 2011 those cards were used to make purchases and cash withdrawals to the value of €1.7 trillion. 14% of consumer spending at point of sale in Europe is with a Visa card, and almost 80% of that is on Visa debit cards.

Visa Europe is owned and operated by more than 3,700 European member banks and was incorporated in July 2004. Visa Europe is independent of global Visa Inc., with an exclusive, irrevocable and perpetual licence in Europe, while both companies operate to ensure global interoperability. As a dedicated European payment system Visa Europe is able to respond quickly to the specific market needs of European banks and their customers - cardholders and retailers - and to meet the European Commission’s objective to create a true internal market for payments.

Visa enjoys unsurpassed acceptance around the world.


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