Visa’s launches pan-European wallet service
01-12-2013 23:00:00 | Door: Nico Scherphuis | hits: 3851 | Tags: by Visa, the first pan-European digital wallet service to be offered by banks and financial institutions, is now live in the UK, France, Spain and Poland. The UK's Nationwide Building Society is today joined by leading issuers BPCE and LCL in France, with ING Bank Slaski now in pilot in Poland and multiple pilots also underway in Spain. Other major issuers will launch soon in all four markets, marking a major milestone for the service as it enters the first stage of its pan-European launch.


Consumer confidence
Offering simple, secure online payments, by Visa is designed to increase consumer confidence in online shopping and reduce the proportion of sales that are abandoned during the checkout process. In the UK any cardholder can sign up to participate in the launch. In other markets the service is currently being offered to a select group of consumers, with wider availability to follow in the coming months.


1400 merchants
More than 1,400 merchants accept by Visa today, with soon-to-launch retailers including Universal Music in the UK and Allopneus, Aquarelle, Brandalley, Leclerc Drive, and in France.


Strategic partnerships
By January 2014, up to 4,000 merchants will accept by Visa thanks to strategic partnerships with main services suppliers in the payment industry, notably WorldPay in the UK, as well Be2Bill (Rentabiliweb), Lyra Networks, Monext, Paybox (Point), System Pay and Worldline (Atos subsidiary in e-payment services) in France. The by Visa pilot programme for Ireland will take place in early 2014, with more launches soon to be announced. Consumers in each country will be able to use their wallet at any European retailer that accepts by Visa.


International reach
Steve Perry
, Chief Commercial Officer, Visa Europe, says: " by Visa gives merchants and issuers an acceptance mark that will work across Europe. Mobile phones, tablets and the use of digital payments have changed the nature of commerce: consumers want to be able to buy from the merchant of their choice via any device without sharing their card details. That's why we're working with our members and merchants to give them the benefit of by Visa's scale and international reach."


Real value
Ron Kalifa
, Deputy Chairman at WorldPay comments: "Retailers backing digital wallets, such as by Visa, are in a strong place to capitalise on changing consumer shopping habits. As our own research has shown, small businesses are also expanding their payment methods incorporating online and mobile wallet solutions. We're expecting by Visa to deliver real value in improving online sales conversions for both small businesses and large corporates."


The phased launch will see further retailers and issuers coming on board rapidly over the next few months ahead of the full commercial launch and consumer marketing campaign in late 2014.


About by Visa by Visa is a pan-European digital wallet service developed by Visa Europe. It makes online shopping simple and secure by removing the need for consumers to enter their card numbers, expiry dates and other personal details every time they make a purchase with an online retailer. by Visa is designed to deliver an improved and streamlined online shopping experience. The by Visa digital wallet can be accessed through the internet browser on a PC, laptop, tablet or smartphone. The service will be made available through Visa Europe's issuing members and consumers will be able to put any card from a major scheme into the wallet, regardless of the card issuer or payment scheme.


About Visa Europe
Visa Europe is a payments technology business owned and operated by member banks and other payment service providers from 37 countries across Europe.


Visa Europe works at the forefront of technology to create the services and infrastructure which enable millions of European consumers, businesses and governments to make electronic payments. Its members are responsible for issuing cards, signing up retailers and deciding cardholder and retailer fees.


Visa Europe operates a high volume, low cost business model that provides services to its members. Its surplus is reinvested into the business and used to improve capital and reserves. In the last six years, Visa Europe has invested over Euro1 billion in new technology and infrastructure.


There are 470m Visa cards in Europe while Euro1 in every Euro6.75 spent in Europe is on a Visa card. Almost 80% of Visa Europe's business is on debit cards and, in the year to December 2012, over Euro1 trillion (Euro1.05tr) was spent on Visa debit cards. Annual online spending on Visa cards in Europe topped Euro200 billion (Euro212bn) for the first time in this period and now accounts for more than 20% of Visa Europe's processed business.


Since 2004, Visa Europe has been independent of Visa Inc. and incorporated in the UK, with an exclusive, irrevocable and perpetual licence in Europe. Both companies work in partnership to enable global Visa payments. 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.


Dit persbericht is gedistribueerd door ANP Pers Support