![]() ![]() Naturally, V.me supports Visa cards, as well as Mastercards, while support for American Express is being developed. “I think the difference we bring ultimately is scale. “Ultimately when you pay with PayPal, the majority of the time you’re paying with a Visa card loaded into your PayPal wallet,” Toothill says. Bringing scaleīut how is it any different to PayPal, the current leading alternative payment method? She explains that online shoppers want “frictionless payments” that involve one-click transactions and as entering as few details as possible. V.me is an online-only platform, it’s not a contactless or mobile payment system, but Toothill is confident that it will offer everything customers want. Toothill says that retailers are confident that they are going to be paid by their customers, who in turn are more willing to pay online with smaller, less familiar, companies because they know that their card details will not be shared with the merchant. “Customers are really confident using Visa online and Visa is the most preferred payment checkout for retailers,” she says. ‘Preferred’ payment methodĬurrently, V.me is used by 4,000 retailers, but Tash Toothill, Director Retail Engagement at Visa Europe, tells TechWeekEurope that its new partners will allow it to expand this to tens of thousands. E-commerce is becoming an increasingly important part of Visa’s business and last week it announced it had signed up 15 new European Internet Payment Service Providers (IPSPs),including Verifone, to its V.me e-wallet service. Visa is counting on it and believes the scale it can offer banks, customers and retailers can allow it to become the dominant player in the e-wallet market. It is predicted that by 2017, alternative payment methods such as e-wallets will be more widely used for online purchases than credit and debit cards.Ĭurrently, PayPal is the most popular of these alternatives, but it is suggested that card-based e-wallets will account for a quarter of all online payments within the next three years. ![]()
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