It might seem too late to the digital wallet party, but Visa's V.me could prove to be a major competitor to category leader PayPal, said Stern Agee analyst GregSmith.
In a prepared statement, Smith stated: "Given Visa's near ubiquity with consumers and merchants, we give the V.me digital wallet a high chance of achieving at least some reasonable success….We think V.me should be able to gain some market share away from PayPal over time."
In an interview, Smith elaborated that although PayPal makes it very easy to pay with a sharedraft or checking account, "it takes many extra clicks to pay with a credit card." Fees are lower for PayPal when sharedraft accounts are used and so it steers transactions in that direction, said Smith.
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