Visa to launch a 'digital wallet' this fall

Share this article:

Visa said it will launch an electronic payments platform this fall designed to simplify and secure online, mobile and social networking transactions. The product will also allow consumers to shop across channels without abandoning an electronic shopping cart.

Consumers will be able to control personal wallet privacy settings, user access and purchase amounts. The service will also include an opt-in merchant offers feature, which will allow companies to send coupons and promotions to consumers, said Visa.

Consumers will be able to shop using the digital wallet by entering an email address, login name and password, instead of a billing address, account number and expiration date, said Visa. The platform will use multiple accounts from both Visa and other companies, support near-field communication, and deliver a range of transaction services for various commerce scenarios, the company said in a statement.

“The way people connect and transact across the globe is changing dramatically, driven by two forces, the continued secular shift from paper-based to electronic payments and secondly the wide-spread adoption of mobile and Internet technology,” said Joe Saunders, chairman and CEO of Visa, on an investors' call.

Visa is working with several financial institutions and companies on the platform, including Barclaycard US, Nordstrom, PNC Bank and US Bank.

Share this article:

Next Article in Multichannel Marketing

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in Multichannel Marketing

Generating Loyalty for Brands and Retailers in an Omnichannel World

Generating Loyalty for Brands and Retailers in an ...

Harnessing personas, loyalty programs, and new technologies can help marketers better connect with customers.

News Byte: Salesforce Forms Unit to Focus on Verticals

News Byte: Salesforce Forms Unit to Focus on ...

The industries business unit, led by ex-White House CIO Vivek Kundra, will serve six industry groupings.

Columbia U. Puts the "Do" in "Donation"

Columbia U. Puts the "Do" in "Donation"

Columbia University raises nearly $7 million in donations in just 24 hours with a combination of social media, live events, and gamification.