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Visa Targeting Fall Launch for Digital Wallet

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May 11, 2011, 10:34 AM   by Eric M. Zeman
updated May 11, 2011, 10:39 AM

Visa today announced plans to create and deliver a digital wallet that will let people more easily make purchases online with their phones. Visa is working with a number of financial institutions, including U.S. Bancorp, PNC Financial, Regions Financial, BB&T Corp, Toronto Dominion's TD Bank, and Barclays, to make the digital wallet happen. The digital wallet will let Visa cardholders store their credit card information online and allow it to be used for making mobile payments. Visa hopes to convince online retailers to make a "one click" button available on their web sites that will allow people to buy things without forcing them to enter all of their credit card data each and every time. Visa envisions the digital wallet enticing more people to make purchases directly from their phones when shopping online rather than using a computer. This is a separate endeavor from the near-field communications trials (for tap-and-go payments at retail stores) that Visa is conducting later this year.

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