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Visa Europe expands digital wallet coverage

More banks and retailers agree to roll out V.me support.

Visa Europe Tuesday confirmed that it has secured commitment from 55 percent of the U.K.'s issuance base — which accounts for more than 60 million card holders, and thousands of the UK’s retailers — to commercially rollout V.me by Visa at scale in the U.K. this year.

The digital wallet was initially launched by Visa with Nationwide Building Society, and this announcement means that the service will now be commercially available to the majority of Internet shoppers in the U.K. before the end of 2015, according to a press release.

The new retailers committed to the service include the Arcadia Group, owners of Topshop, Topman, Dorothy Perkins, Burton, Wallis, Miss Selfridge, and Evans. Commitment has also been secured from other leading online services including Iceland, bathstore and Costco.co.uk.

“We're extremely proud to announce the commercial launch and widespread availability of V.me by Visa in the U.K.," Wendy Martin, executive director of V.me, said in a press release. "A recent study by Accenture found that almost half of consumers surveyed plan to increase the number of their online purchases in the future, so we think that the V.me digital payment service is as important for the online environment as contactless is in the face-to-face environment. The uptake of the service by retailers and banks across the country will further enable frictionless commerce, making online shopping — particularly checking out — easier, quicker and safer for the consumer, reducing the abandonment rate for merchants."