Visa Labels New Digital Wallet ‘V.Me’ And Announces Developer Program Plans

Reports are coming in that Visa has chosen to name their new digital wallet service and will partner that program with a developer platform in the hopes of competing with PayPal, Google Checkout and other alternative digital payment sources.

The new system is meant to create a more safe environment for users looking to make purchases online by allowing them to pay for products without the need to enter their full credit card number.

According to Electronista:

The developer program is geared for a wide range of potential implementations, with APIs for mobile apps and JavaScript code for websites. The company is currently offering tools to enable developers to integrate the payment system to be ready by the time the service officially launches.

The move by Visa comes as the company has promised to begin supported near-field communication (NFC) payments which makes it possible for shoppers to purchase goods at retail stores through the use of their mobile phone.

Visa isn’t the first card based company to go after the Paypal market, earlier in the year American Express announced Amex Serve, a program that allows users to fund their accounts using various bank accounts and other credit cards.

According to AllThingD will launch in early 2012.

On paper at least it appears that the company is attempting to pull a Google/Google+ maneuver by tapping their already massive userbase in an attempt to quickly enter a rapidly growing market.

Will you give the new platform a try when it arrives on the open market?