Nationwide digital wallet speeds up online shopping

Online shopping

Nationwide has launched a digital wallet with the aim of making online purchases "faster, easier and more secure".

The building society has teamed up with Visa Europe to introduce, which enables customers to link multiple cards (debit and credit) into a digital wallet.

The payment information is safely stored, "enabling customers to make future purchases without the need to repeatedly enter their card details", Nationwide explained in a statement.

It added that card details not passed on to individual merchants is what makes – the first digital wallet to be offered by a bank or building society in the UK – faster and more secure.

Steve Perry, chief commercial officer for Visa Europe, said: "The wallet can already be used at over 1,400 online merchants, including household names like Curry's and Clarks. By Christmas there will be more than 4,000 places where you can use by Visa in the UK, and more across Europe."

Payment company PayPal believes digital wallets will be the next big innovation in financial services. PayPal and eBay's spokesperson Adrian Christie recently said: "If you look at payments innovation, such as the credit card in the '50s and the ATM in the '80s, we really haven't seen much change," he said.

"But, digital wallets will be as big an innovation as credit cards and ATMs, and it is evolving really quickly and will not be in the form factor that we see today."

Nationwide customers can register for instantly, here.

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