Visa Inc. (NYSE: V) announced today that Bank of America (NYSE:BAC) has agreed to offer Visa's digital wallet service called V.me and has begun piloting it to its online banking customers.
This service gives customers the ability to make simple and secure online payments without the hassle of constantly entering card account number, bill-to and ship-to information.
"We look at everything through the lens of the customer and continue to prioritize security, privacy, and fraud protection above all else," said David Godsman, Online and Mobile Solutions executive, Bank of America. "We believe our customers shouldn't have to forgo security for convenience when using a digital wallet. V.me offers customers a greatly simplified and secure checkout process when shopping online without sharing their financial information."
Bank of America customers can enroll in Visa's V.me service through online banking. Once enrolled, customers can shop with comfort knowing they are protected by layers of security within Visa's industry leading network. Customers will also be able to check out with a few clicks, eliminating the need to enter card, billing and shipping information for each purchase. The service will work on websites of participating merchants.
"Visa is committed to delivering a new dimension of convenience and security, one where consumers are no longer required to share personal information at checkout," said Jennifer Schulz (@Jen_Schulz), Global Head of eCommerce, Visa Inc. "We believe that Bank of America's decision to offer V.me to its vast customer base will accelerate merchant adoption and make this digital wallet even more valuable to consumers. In the end, the most successful payment platforms will be the ones with the greatest focus on security and the most benefit to consumers and merchants."