BBVA will launch a trial of the V.me digital wallet with Visa Europe next month, making it the latest bank to support Visa’s digital wallet and the first in Spain to do so.
Visa announced V.me last year as a streamlined digital wallet for consumers to use for online shopping. It announced its first bank partner, PNC Bank, this month, and shortly thereafter announced US Bank’s support.
The V.me wallet is not a stored-value account, so banks that support it get the same transaction data from online purchases as they would from a regular card payment. V.me also allows payments from non-Visa card brands.
"The wallet allows our cardholders to use a swift and secure payment method for online transactions, backed by two renowned and innovative brands," says David Puente, business development director at BBVA Spain and Portugal, in a press release. "The BBVA V.me wallet will also allow our merchants — both small businesses and larger retailers — to increase the reach of their internet business."
V.me works on computers and mobile devices. Though it does not initially include support for mobile point of sale payments through a Near Field Communication chip or bar code, Visa has said it would support such systems if merchants request them.
"V.me is the new way for consumers to pay online, creating an easier, faster and more convenient shopping experience," says Mariano Dima, Visa Europe's executive vice president for marketing and products, in the release. "We are delighted to announce BBVA as the launch partner for Visa's V.me wallet in Spain and we look forward to rolling the service out to customers across the country."
Visa has plans to launch V.me in France and the United Kingdom later next year.