Credit unions which process payment transactions with The Members Group also have access to V.me, the new digital wallet option that Visa rolled out this week.
V.me is a digital wallet service which lets cardholders enroll their card payment details with the service and then just use a password at participating online retailers to make easier and more secure online transactions.
“Consumers are increasingly turning to the Internet to check off their holiday shopping lists,” said Brandon Kuehl, TMG product development architect. “V.me not only allows secure online purchases, it makes the process of shopping via any Internet-enabled device extremely simple by storing preferred payment and shipping information.
“What’s more, the service keeps a record of all purchases made with V.me, including shipping addresses, tracking information and receipts, so holiday shoppers have access to all of their shopping information in one place.”
Card Services for Credit Unions also has partnered with Visa to offer V.me.
TMG clients who sign on for V.me will not lose any branding opportunities – a concern some issuers have expressed as they research digital wallet options, the processor reassured, adding that TMG clients’ card art will appear in the V.me service, maintaining the credit union or community bank’s brand inside of the service.
The service will be accessible through TMG’s MyCardInfo cardholder portal, as well as directly through an FI’s online banking site, TMG explained, adding that V.me carries no additional transaction fees for now.
“Support and training for FI staff will be provided by TMG,” the CUSO said.
“V.me is the first of many payment innovations TMG will bring to our financial institution clients,” said Kuehl. “Especially for smaller issuers, it’s becoming increasingly important to offer customers multiple ways to transact. TMG’s product roadmap is based on this very idea – offering many innovative payment options so our financial institution clients keep pace with competitors in what is a very complex marketplace.”
