V.me lets users make secure online payments to participating merchants with just a username and password, removing the hassle of having to enter card account number, bill-to and ship-to information for every transaction.

In October, PNC became the first bank to offer the service to its customers and it has now been joined by more than 50 other financial institutions, mainly smaller community players. This means that around 55 million cardholders can use the service to shop at 23 e-commerce retailers online or through their mobile phone or tablet.

Jennifer Schulz, global head, e-commerce, Visa, says: "V.me is built around a single concept, to help people shop online simply and securely. We understand that need and believe our long-standing relationships with financial institutions, merchants and acquirers put Visa in a strong position to deliver the very best digital wallet experience."