Visa v.Me steps out into the e-wallet marketplace

Visa, like most other players in the payment processing market, has come to the realization of the importance of mobile Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term not only for consumers but merchants. Late 2012, Visa launched the v.Me mobile in the U.S. market. This move was made with over 50 financial institutions, and 20 merchant partners, showing consumers that not only did they have a solution for their money, but also a ready to use market place of their favorite brands to use it with.

v.Me was revolutionary for customers because it allowed them to use one service, or Digital Wallet Digital Wallet A digital wallet is a popular mechanism referring to an electronic device, online service, or software program that allows one party to make electronic transactions with another party.This involves the bartering or exchange of digital currency, including cryptocurrency for goods and services. Money can be deposited in the digital wallet prior to any transaction, which also includes an individual's bank account that is linked to the digital wallet. A digital wallet can include more than just digi A digital wallet is a popular mechanism referring to an electronic device, online service, or software program that allows one party to make electronic transactions with another party.This involves the bartering or exchange of digital currency, including cryptocurrency for goods and services. Money can be deposited in the digital wallet prior to any transaction, which also includes an individual's bank account that is linked to the digital wallet. A digital wallet can include more than just digi Read this Term to hold their card from any issuer (Visa, MasterCard, American Express, and Discover) thus not limiting the customers eligible for adoption. For the time being, v.Me is only available for online transactions. However, the process for payment is as simple as entering your email and password, confirming the details of payment and the transaction is complete. Users of v.Me are still eligible for any cardholder points and incentives with whichever method of payment they choose within the wallet.

Other on-site solutions for the v.Me platform are in the works, including use of NFC, QR codes, and other methods of payment, but no timeline has been given. There are also plans for geotagging options, where based on where the user is located, receiving promotions for merchants they frequent or those that they pass by and may not shop with yet.