V.me by Visa was initially launched by Visa with Nationwide Building Society in 2013, techworld.com reports. The service will now be commercially available to the majority of internet shoppers in the UK before the end of 2015.
New retailers committed to the service include the Arcadia Group, owners of Topshop, Topman, Dorothy Perkins, Burton, Wallis, Miss Selfridge and Evans; and Iceland, bathstore and Costco. V.me is designed to increase the online shopping customer experience, reducing the proportion of sales that are abandoned during the checkout process, currently estimated to be over 68%, according to data issued by Visa, the source cites.
V.me allows card holders to save all their debit, credit and pre-paid card details, from all issuers, online. Instead of manually entering card details when at the checkout, users log into their digital wallet with their email address and password. And, like using PayPal, paying with V.me shields the users full card details from the website theyre making a payment to. When shopping online consumers can access their V.me service from whichever device they prefer, including tablets and smartphones.
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