More Than 50 Credit Unions Now Offer the V.me Digital Wallet

  • Philip Ryan
  • August 12, 2013
  • 1

shutterstock_149603561More than 50 credit unions offer the V.me digital wallet from Visa. Navy Federal Credit Union, the nation’s largest credit union, became the latest to offer V.me to its members, it was reported by Credit Union Times last week.

Navy Federal is based in Vienna, Va., and has 4.4 million members.

V.me allows users to store payment information in order to simplify — and make safer, according to Visa — the online checkout process. V.me, which has a mobile payments component, as well, is essentially Visa’s competitor to PayPal.

Visa recently announced that more than 90 banks have signed up to offer the product to customers, but only 253 merchants, which is a bit of a mismatch. [UPDATE: The 50+ credit unions are included in this figure, according to Visa spokespeople.]

The number of financial institutions offering V.me is significant, but merchant acceptance and customer awareness seems to be lagging.

V.me exited beta testing in November 2012.

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Philip Ryan is Associate Editor of Bank Innovation. He worked as a web developer for the Fund for the City of New York for six years, and was an HTML developer at Ocean-7 Development back in the go-go ’90s. He has more than 15 years' experience in online journalism. He can be reached at pryanrmg1@gmail.com.

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