Visa Europe has confirmed that it has secured commitment from 55% of the UK’s issuance base, which accounts for more than 60 million card holders, and thousands of the UK’s retailers, large and small, to commercially rollout V.me in the UK this year.
The service was initially launched by Visa with Nationwide Building Society, and this
announcement means that the service will now be commercially available to the majority of internet shoppers in the UK before the end of 2015.
The new retailers committed to the service include the Arcadia Group, owners of Topshop, Topman, Dorothy Perkins, Burton, Wallis, Miss Selfridge, and Evans. Commitment has also been secured from other leading online services including Iceland, bathstore and Costco.co.uk.
V.me is part of Visa Europe’s growing portfolio of products enabling frictionless commerce for retailers and consumers. Offering simple, secure online payments, V.me by Visa is designed to increase the convenience of online shopping, reducing the proportion of sales that are abandoned during the checkout process, currently estimated to be over 68%.
“The UK is the European leader of online commerce with a valuable and diverse range of companies that conduct business online,” comments Kevin Jenkins, managing director UK & Ireland at Visa Europe.
“This announcement is a further proof point of our ability to innovate, building on our market success in contactless. We’re excited to be working with our member banks and many of the UK’s leading retailers to do this and look forward to new partners coming on board.”