Visa confirms details of PayPal rival, V.me

[Gerry]

Oh, boy. Open the flood gates.

On the heels of the meet.me sale, this is in the news today:

Visa confirms details of PayPal rival, V.me

Visa has anounced that its digital wallet service will be called V.me, but won’t use the credit card’s traditional branding.

Expected to be rolled out fully in early 2012 after launching in beta today, V.me will have its own identity in an effort to differentiate it from Visa's other services.

The service will work in a similar way to PayPal, as an ecommerce offering initially, and can be topped up through a variety of sources including Visa, Mastercard or a standard bank account.

This means users will be able to make an online payment using a username and password, rather than having to key in all of the data from a credit card.

To accelerate the adoption of Visa’s payments services, including V.me, the company has also unveiled a new developer programme that brings together all its current subsidiaries including Authorize.Net, CyberSource, Fundamo and PlaySpan. Its aim is to give retailers, merchants and start-ups better access to Visa's payments services, since the tools provide mobile developers with easier ways to accept payments on handsets.

Considering Visa’s strength as a reputable name in the banking sector, supported by heavy marketing and advertising of the new product, V.me is in a good position. Existing customers should be able to sign up easily, and new ones will feel secure due to the association with Visa.

With PayPal's own digital wallet service expected to launch next year - as well as Google Wallet on the market- it'll be interesting to see how products from the big three compare.

[loudbeats.com]

nice.. paypal had sort of monopoly in the online industry!!

[Acro]

Will they fail in the UK?

[DomainsInc]

that will be interesting. i thought i heard something last year about a system that would allow anyone to put money on someone elses card online. i guess this is that service but it doesn't sound like quite like that.

[Ulysses]

Well another major organisation has decided to use an alternative to .com

Its nice to see alternatives being used.

[Gerry]

Well another major organisation has decided to use an alternative to .com

Its nice to see alternatives being used.

Yeah, it is quite different.

And, I have actually landed on some .cc sites. Even my county government is on .cc. Not sure I understand what they saw in this option.

http://www.forsyth.cc/

[Poker]

Even my county government is on .cc. Not sure I understand what they saw in this option.

Was probably the only extension they could get for exact keyword w/in their budget...same is probably true for Visa. IMO that is the only real value in most if not all of the of new gltd's.

[hugegrowth]

Within the same week Overstock drops O.co and another company starts to brand another single letter country code, V.me. Along with the meet.me sale, it's a good week for .me.

I am amazed at all the payment options that are out there now, there is almost no excuse to not be able to send money to someone.

[Acro]

Except, in the UK it isn't

V.me. Along with the meet.me sale, it's a good week for .me.

[PRED]

Except, in the UK it isn't

lol

there is a much better image you should use Theo, which is far more 'current'
http://www.mirror.co.uk/news/politic...5875-23562403/
watch video too, went viral lol

you can only get a 'Baroness Trumpington' in the UK
LOL!

[Mark Talbot]

I am suprised that Visa took this long. I mean really.

Paypal went from a viable reasonable service, to, well, doubling the take-per-auction-item by ebay.

And hopefully v.me has an api that makes for easy PCI DSS compliance on webform transactions.
After all, they own the rules that all the other transaction providers have to comply with.

We will see.

[mrcurly]

There will be hundreds if not thousands of Digital / Mobile Wallets out by the end of 2012

[Molotov]

THats great i really odnt like paypal and their odd laws and fees.

[creck01]

Ya this could be great I have been waiting for a decent paypal alternative.

[rdthewall]

Looking forward to it. I am quite satisfied with Paypal so far, but honestly speaking, I always wanted Paypal to face some heat from competitors