In an interesting and unpredictable move, Visa is re-branding its V.me wallet service and will now be called Visa Checkout.
V.me launched only 8 months ago in Australia and the card firm is already sun-setting the name in favor of the new “Checkout” concept. Similar to V.me, Checkout allows customers to pay and ship online orders via stored payment card and address info. The service does not work only with Visa branded cards, but can accommodate particle any card type, similar to MasterCard’s MasterPass Ewallet.
According to Greg Storey, head of Visa Checkout, the change is not in name only.
“Visa Checkout is a completely re-engineered payment experience. The V.me platform was built three years ago and in that time eCommerce and mobile commerce have grown significantly. We’ve made the consumer payment experience more simple and we have made it easier for merchants to integrate. We looked at every pixel and every aspect of the flow to bring even more simplicity to online payment with Visa Checkout,” Storey stated.
Stocks to Watch This Week – Expedia Group, IncGo to article >>
All supporting V.me merchants, starting in Australia with JB Hi-Fi, Moshtix and Lorna Jane to name a few will be transitioned to the Visa Checkout. Migration to the newly branded service is said to be completed “In the coming months”.
We have noticed V.me has seen a less widespread rollout than main competitor MasterPass. We are waiting to see if a shift in user experience and name can help Visa instill itself stronger in the heavily crowded Ewallet space.