This is a very exciting time - V.me will offer consumers a simple and secure way to pay online by entering a single username and password, eliminating the hassle of entering personal details across multiple merchant websites.

V.me by Visa will allow consumers to:

• Securely store their existing Visa and other payment cards
• Store and use multiple shipping addresses
• Set transaction alerts for Visa cards based on spending thresholds and other criteria
• And, over time, opt-in to additional features.

V.me can be accessed via PC, smartphone or tablet, with personal account information protected by layers of security within Visa's industry-leading network. There will be no fees for consumers to enrol or make purchases using V.me.

We expect V.me will change the way consumers shop online, and it can benefit merchants by streamlining the checkout process and reducing abandonment of online shopping carts.

Visa intends to offer V.me to all Australian eCommerce merchants. The initial reaction we have had from merchants has been fantastic, with a number on board already. They will participate in V.me to provide their online customers with a convenient and secure way to pay. More than 40 financial institutions have also agreed to partner with Visa to offer V.me to their customers.

V.me is the latest in the evolution of payment technology solutions from Visa, whose vision is to become the best way to pay and be paid for everyone, everywhere.