The digital wallet will store all the payment cards in a consumer’s wallet, including non-Visa branded cards, Jim McCarthy, Visa’s head of global products, said during a press conference. Consumers will be able to use the wallet to make mobile commerce and e-commerce purchases and purchases at the physical point-of-sale.

“Not everyone is going to like the idea of Visa as the merchant of record, but changes in the payment landscape are shifting the role of some of the players,” says Todd Ablowitz, president of consultancy Double Diamond Group. “It would certainly be an aggressive move on their part.”

Digital Transactions, May 11, 2011
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