V.me by Visa wallet already accepted by important website merchants who generates almost 45% of the Polish e-commerce market sales. In the 12 months to late-June 2014, e-commerce spend on Polish Visa cards approached €900 million, an increase of more than 22% on the same period a year earlier, while transactions went up more than 33%,according to a Visa’s press release.
Since late April 2014, the wallet has been made available to its clients by ING Bank Slaski, with other banks joining the project. Currently working on deployment of the service are 12 Polish issuers: PKO Bank Polski, Bank Zachodni WBK, mBank, Bank Millennium, Raiffeisen Polbank, Credit Agricole, Getin Noble Bank, eurobank, Bank Polskiej Spoldzielczosci (PBS), SGB Bank, Santander Consumer Bank and Meritum Bank.
“Online shopping has been on the rise and purchases by smartphone, using mobile applications, are gaining in popularity. Noticing this potential Visa Europe has worked vigorously to develop and deploy the V.me by Visa digital wallet, which can now be used for payments with leading online merchants.”, comments Gosia O’Shaughnessy, Regional Managing Director, Central Eastern Europe, Visa Europe.
The V.me by Visa digital wallet service is currently provided to their customers by leading Polish acquirers and payment integrators, such as eCard, First Data Polska and Dotpay. Overall, the wallet’s acceptance network includes website merchants generating close to 45% of Polish e-commerce sales.
While the V.me by Visa wallet is currently provided by ING Bank Slaski, one does not have to be the bank’s client to use the service. A wallet can be created online — and then a customer’s card, or cards, can be registered in it, using the websites ingbank.portfel.v.me or pl.v.me. Clients of ING Bank Slaski are offered an opportunity to immediately set up a wallet from the e-banking level, whereby the bank-issued cards can be entered in the wallet automatically.
The wallet can also be created while shopping from an online retailer, after selecting the option of V.me by Visa payment. Among the 12 banks currently working on V.me by Visa deployment, the first commercial launches are expected in late Q1 and early Q2 2015.
Poland is among the first four markets in Europe to have adopted the V.me by Visa digital wallet. The solution has huge innovation potential, and by the end of this year it will have been brought to consumers in 12 countries in Europe. At present, outside Poland, the service is live in France, Spain and the United Kingdom. In addition to that, pilot projects are currently run by Visa Europe members in Germany, Italy, Norway and Sweden, and this year the wallet will also be offered to clients by banks in the Czech Republic, Greece, Slovakia and Switzerland. Throughout Europe, V.me by Visa is already accepted at more than 30,000 online stores.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
