Monday, May 14, 2012
Digital Wallet Battle Heats Up As Visa And MasterCard Enter The Game
This week, two of the major players in the credit card industry, Visa and MasterCard launched their online digital wallet services. Known as V.me (Visa's) and PayPass Wallet Services (MasterCard), both are very?similar?initiatives which see the companies clamoring to become the credit card of choice for digital transactions, the way they fight today to be the credit card for all the other transactions taking place out there in the real world. And, to be clear, a "digital" wallet isn't necessarily the same as a "mobile wallet," although a digital wallet service could also be housed in a mobile app interface, as both MasterCard and Visa plan on offering in the near future.