Visa’s digital wallet V.me helps simplify transactions online and on mobile and will move to in-store point of sale next year.
Originally posted on Gigaom:
Visa’s (s v) digital wallet and PayPal (s ebay) competitor V.me is now ready to go prime-time after debuting in beta a year ago. The credit card company is officially launching the service today and announcing 50 banking partners and two dozen merchants who will support the wallet initiative.
V.me is Visa’s attempt at creating a digital wallet that makes transactions easier. It allows users to pay online with a Visa or other credit card using a user name and password instead of entering a 16-digit card number and their address. V.me is available online and on mobile and will roll out to in-store point of sale next year.
Visa is relying on banking partners to help sell V.me to their 50 million customers. It has signed up deals with PNC and U.S. Bank along with about 50 other smaller banks, who will offer V.me directly to their customers. Some like PNC will offer a preloaded V.me wallet while other banks will send users to sign-up through the V.me site. Many banks will market the service through their own banking site.