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Visa to Launch Its e-Wallet Service Next Year

Credit card company Visa's e-wallet service will adopt a new name and also a new logo before making it to the market early next year.

According to reports, the company will be using the name which, according to the company, will give their services a separate identity as compared to other services.

Under the e-wallet services the users can make online purchases by simply using their username and password without the need of providing any credit card number or detail, reported Mobiledia.

Users can pay for purchases via various sources like Visa card, MasterCard or through bank accounts. This new process of transaction is quite similar to PayPal.

For the next year, Visa has quite a few plans and services in store for the subscribers. First of all they will be rolling out mobile register payments by using Near Field Communications (NFC) that will let users enjoy "tap and pay" facility from their smartphones.

And secondly, Visa will also launch developer program which will allow large as well as small businesses some more access to the services of Visa payment.

These developments and additions will make this company a big force in the e-commerce industry, which according to estimates, will be worth $1.13 trillion by 2014.