RBS becomes first UK bank to back Visa V.me wallet

RBS becomes first UK bank to back Visa V.me wallet

The Royal Bank of Scotland has become the UK's first financial institution to begin trialling Visa's V.me digital wallet.

V.me lets registered 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.

The technology is already being piloted by RBS and its Natwest unit ahead of a full roll-out in the spring, making V.me available to customers of both brands.

Steve Rubenstein, director, everyday banking, RBS, says: "We believe that a proposition which reduces the effort of buying things online, while also improving security, for our customers is exactly the sort of thing we want to deliver. V.me clearly delivers this and we look forward to offering it to our customers in 2013."

Mariano Dima, EVP, product and marketing Solutions, Visa Europe, adds: "Visa is committed to making online payments even easier and more secure, and our partners such as RBS are helping us make this vision a reality. It is our intention to make the V.me brand as trusted and well known for digital payments as the Visa brand is on the high street today."

Dima says that while RBS is the first British bank onboard, feedback from others has been "extremely positive" and several new partners are set to commit in the next few months. The company has also signed up more than 50 institutions in the US as well as Spain's BBVA.

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