Feeds

Visa Europe muscles in to UK cloudy wallet market

Another day, another payment platform...

Internet Security Threat Report 2014

Visa Europe is filling in some of the details behind the logo it launched last year, scheduling a autumn launch for its cloud-based wallet as the payment war heats up.

V.me was announced last November, but at that time consisted of little more than a logo. Now we have a few more details including a commitment to launch in the UK, Spain and France in the next six months and a partnership with payments veteran WorldPay.

The service is intended to compete with PayPal, and stop megamarts like Amazon turning themselves into payment processors, though that process is already far advanced. Users can upload their card details to the V.me cloud and then pay for stuff at any online retailer displaying the V.me logo.

In common with other cloud-payment systems the retailer never gets to see the card details, which is good for security, and V.me isn't an intermediary like PayPal, so card insurance and refund schemes should still apply though we won't know all the details until the service finally launches in the autumn.

V.me will launch into a competitive market, with O2 Wallet getting off the ground last week and PayPal well established. O2 Wallet is more mobile focused, as befits a network operator moving into banking, V.me is available through a mobile browser and the brand could extend itself into NFC one day, but Visa already has the PayWave brand for such things.

O2 bulks out its offering with a shopping comparison service focused on mobile, while PayPal's low charges make it attractive, so it will be interesting to see how V.me differentiates itself.

New partner WorldPay currently charges merchants a £100 setup fee, and monthly subscriptions of £20 as well as a per cent or two on every transaction (depending on volume), so it will be interesting to see how V.me compares to that.

Beginner's guide to SSL certificates

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
DOUBLE BONK: Testy fanbois catch Apple Pay picking pockets
Users wail as tapcash transactions are duplicated
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Google Glassholes are UNDATEABLE – HP exec
You need an emotional connection, says touchy-feely MD... We can do that
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
prev story

Whitepapers

Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
New hybrid storage solutions
Tackling data challenges through emerging hybrid storage solutions that enable optimum database performance whilst managing costs and increasingly large data stores.