Visa's amazing answer to e-wallet domination: A new logo

Visa USA has launched its new logo, with service to follow next year, securing online payments by hosting your wallet in the Visa cloud. The idea is that you upload details of your payment cards to Visa, even if they're not Visa-branded, and Visa will process the payment without ever revealing your card details to the merchant …

[Anonymous Coward]

v.me

that sounds awful in German

[Bronek Kozicki]

competition is good thing

especially since PayPal are indeed annoying with this "you deal with us" attitude and no actual customer support to deal with.

[Owen Carter]

Oh look.Visa! Yesterdays technology tomorrow!

Similar to the iDeal system we have had here in Holland for, ooh, 6 years or so..

Except iDeal works with all Dutch banks (by law) so merchants can use it with confidence that it is available to all their Dutch customers.

IDeal is a similar payment framework; Customer tells the merchant who they bank with, the merchant passes the payment to the bank and redirects the customer to the banks iDeal portal. Customer confirms payment on their banking site (where they can also check balance etc), merchant gets a confirmation once payment is made. Payment is direct to the merchants account! Costs are born by the customer as part of our general banking charges.

Oh, and since the banks (again, by law) must provide 2-factor logins it is secured with a two-factor system.

http://en.wikipedia.org/wiki/IDEAL

[Anonymous Coward]

So Dutch vendors don't care about non-Dutch customers?

Or do they have to have duplicate systems in place for dealing with anyone who doesn't have a Dutch bank account?

[Stoneshop]

@AC 21:21

Have you seen web vendors *anywhere* rely on a single method of payment? Would Dutch vendors be any different? iDeal is usually just one of several methods (CoD, credit card, etc.). Also, the requirement is not that as a web vendor you offer iDeal (though you'd be daft not to), but that iDeal works with all Dutch banks that offer e-banking.

[Bobby Omelette]

V.me?

Sure sounds like a request for someone to stick two fingers up at you.

Marketing fail.

Shurely something like 'Visa-V' would have been a little smarter.

Or is it just me?

[Bill Neal]

V-card

What do you mean you lost your V-card in the cloud? How is that possible?

[Anonymous Coward]

Google Wallet?

HAHAHHAHAHAHA yeah right....I will never give any info to those bastards.

The Visa idea seems good though. Let's see if they implement it right and how many vendors will be available at launch.

[Ralph B]

v.me vs v.com

It seems that Montenegro's doMEn registry were easier to "pursuade" to accept single-letter second-level domain than ICANN was.

[Anonymous Coward]

It makes sense...

... for businesses as it should ease the myriad of fig leaf regulations. Don't have the data, can't leak it, simples. Just have to trust visa to fork over the dosh on no evidence anyway, which isn't certain even if you do have the details. How that risk pans out, well, these risk-takers will just have to see, no? And as a cnutsumer you have no choice but to trust the whole chain of ever shadier credit processors anyway. So that's no loss and perhaps a small gain. Cheaper than RBS equals easy win for visa.

Yet we remain in the same sad state where the credit processors have disproportionate market power and there still remains plenty of room for more robust solutions. For the time being we'll just have to put up with ever smaller incremental increases in "innovation" with or without unwanted complex electronics backing the touted thing.

[JB]

Isn't Vme the Spanish-language PBS in the US??

http://www.vmetv.com/english_info/

[J. Cook]

Thanks, but no...

If it works as well as their trainload of FAIL known as Verified by Visa, then I'm sure to NEVER USE IT. EVER.

10 points for concept, -10 million points for execution.

[HipposRule]

Actually.

... known as 3D-Secure

[Chris Sake]

Doodling around, just like Microsoft

First we had the V-1,

then the V-2;

now we have V-me.

[Anonymous Coward]

I hear the sound of lawyers rubbing their hands

Isn't .me an apple domain?

So V.me is actually an Apple mobile me account

[Stoneshop]

@AC 11:53

Apple does not (yet) own Montenegro

[Anonymous Coward]

I hear the sounds of lawyers hands rubbing together

me is Apple branding. V.me sounds like Visa got a mobileMe account

[Stoneshop]

@AC 11:57

That'd be Montenegran lawyers, not Apple's.

[HP Cynic]

That logo looks amateurish and as I use VME at work it is also offputting :)

[Anonymous Coward]

Who would be responsible...

..if somebody used my Mastercard details held by this Visa (and non-Visa) wallet? Currently the credit card company is liable for abuse, but I could see mastercard wanting to blame Visa for inappropriate access/use, and Visa ignoring them - leaving the user in the middle.

This could get very messy.