More UK banks to roll out Visa online wallet

More UK banks to roll out Visa online wallet

Visa has signed four of the UK's largest banking brands for the full-scale commercial roll out of its V.me digital wallet for online shopping.

Lloyds Bank, Halifax, Bank of Scotland, and TSB Bank plan to launch their own bank-branded digital wallets in the coming months, joining Nationwide Building Society in offering the service.

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.

Visa says new names are expected to be announced shortly as the service expands in the UK throughout the year.

A host of new retailers, led by Iceland, Costco.co, and Arcadia Group, owners of Topshop, Dorothy Perkins, and Miss Selfridge, are also committed.

Andrew Ducker, Lloyds Banking Group head of retail payments, says: “There has been a huge shift in the way consumers shop and pay for goods, cash is no longer king. By introducing Lloyds Bank, Halifax and Bank of Scotland wallets later this year all our customers will benefit from increased ease of making payments online.”

Comments: (1)

A Finextra member
A Finextra member 08 June, 2015, 13:29Be the first to give this comment the thumbs up 0 likes

Wow! Four new Banks: Lloyds, Bank of Scotland, Halifax and TSB!  So Lloyds Banking Group, then!

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