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Visa Europe confirms plans for digital wallet
1 May 2012

Visa Europe has confirmed its plans for a digital wallet service in the UK, which will incorporate online transactions, person-to-person payments and loyaltyschemes in one place.

Called V.me, it will enable users to make online payments via a web browser, tablet or mobile, reports techworld.

It will be launched in the UK this autumn and will be available to both Visa users and its member banks.

Mariano Dima, Executive Vice-President of product and marketing solutions at Visa Europe, is quoted as saying: "V.me sits at the heart of Visa's future of payments.

"Our intention is that V.me will ultimately be able to incorporate any or all of our new payment technologies, allowing our members to deliver the best possible payments experience whether face-to-face, online or in a mobile environment."

It will benefit online retailers by streamlining the customer check-out process, which in turn will drive up conversion and shopper satisfaction rates.

Payments processor WorldPay has been named as a development partner for the service.

WorldPay recently revealed that Brits spend 25 per cent of their disposable income online.