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Visa Checkout is a change in philosophy for the giant card brand, says Rick Oglesby, senior analyst at Centennial, Colo.-based Double Diamond Group. “Visa Checkout represents a change in philosophy from V.me in that it endeavors to include the faster checkout and facilitation of merchant relationships directly into the core card offering rather than offering it as a standalone, separate product,” Oglesby says. “It’s more like merging V.me into the Visa card.”

The idea is to streamline the product to the point where the online payment function becomes just a feature of the card that issuers simply would add to new and existing cards, he says.

“When we launched V.me three years ago, we knew it would be an iterative process,” Visa says in a statement. “Commerce, both online and via mobile devices, is always growing and changing, requiring us to constantly innovate our offerings.” Visa says it incorporated lessons from V.me into Visa Checkout.

A name change alone will not convince merchants or consumers to widely adopt the online payment service. “Despite the fact that the wallet is a mainstream product online and the fact that Visa is the most mainstream electronic payment product, there will be big challenges,” Oglesby says.

Digital Transactions, July 17, 2014