Launch of e-currency wallets by Visa and MasterCard companies


Visa announced about launching of Beta version of e-currency wallet V.me. This project was supported by partner, which is a popular online retailer, Buy.com.

In November 2011 currency world has already known about V.me appearance but Visa e-wallet launching has been performed later than MasterCard e-wallet launched its MasterCard PayPass Wallet. MasterCard announced a new global offering on May 7, 2012. Decision of main competitor pushed VISA International Service Association to act quickly.

For activation on the web V.com consumers can use current accounts at Buy.com. Actually the quantity of potential users is about 18 million consumers of online retailing. Users can refill their Visa digital wallets with Visa card, MasterCard, Discover and American Express.

Accomplishment of the transaction through V.me does not require fulfillment of credit card essential elements because login and password that’s all what user needs. In the real-time mode owner of Visa e-wallet will receive notifications about all transactions executed from his e-wallets, and special offers as well. Consumers will be able to put multiple cards into the wallet.

According to Visa company direction report, at the beggining V.me will be popularized in e-commerce and few months later they plan to involve American retailers. For this process functionality of mobile and contactless payments for NFC technology will be sprung into action. In autumn 2012 V.me will be launched in Great Britain, France and Spain.

Almost at the same time MasterCard WorldWide will make PayPass Wallet available to partners initially in the United States, Great Britain, Australia and Canada. Consequently in the nearest future other countries will be included. PayPass Wallet service will be available at the points of sale. It will provide possibility for customers to use e-wallet not only for online shopping. Service allows customers to check account information before purchasing goods or services, control spending and receive information in real time mode.

MasterCard e-wallet will be integrated with mobile app, subsequently payment transactions will become fast and easy. Using PayPass Wallet consumers will sign up and will be able to provide information for about 25 credit cards. We have to mention that one of the main aspects will be in the first place - security of your funds, which brands like MasterCard can provide.

The global credit-card companies offer their consumers contactless payment, confidence, security and comfortable usage of their funds. The intention to incorporate all possible and available new technologies into e-wallets will provide a new step in e-commerce world. V.me by VISA International Service Association and PayPass Wallet service by MasterCard WorldWide both have the same advantages and seem to be promising, so it is up to you to choose.

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