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PERSPECTIVES ON DIGITAL CURRENCY

Nov 15, 2012

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The Economist Delves Into the “War of the Virtual Wallets”

Hailing the recent commercial availability of V.me by Visa as “another milestone on the journey to digital cash” the Economist provides an overview of the major players and landscape in the digital wallet space in “War of the Virtual Wallets“, including perspective from Visa’s global head of eCommerce, Jennifer Schulz.

While noting that the competition in the virtual wallet space is white-hot, the article asserts that Visa is well-positioned as the battle intensifies.  Some Visa-specific statistics noted in the article to support this prediction include:

*More than 2.3 billion Visa cards in circulation

*Over $8 billion in total Visa credit, debit and prepaid transactions processed in 2011

*Significant technology investments and acquisitions in developed markets, including V.me and Square

*Strategic investments in developing and emerging markets, including Monitise and Fundamo (a Visa company)

*Strong relationships with large member banks, including 50+ supporting V.me

Please click here to read the entire article.

Posted by: Ryan Donovan, Corporate Relations on November 15, 2012 at 1:34 pm