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Edition: U.S. Article Comments (0) Technology Facebook may have leaked user data: Symantec Two Swedes get life for Philippine Internet porn AT&T, T-Mobile CEOs to defend merger Visa to launch digital wallet for banks Google sets aside $500 million for probe Texas Instruments wins Ubiquisys small cell deal Follow Reuters Facebook Twitter RSS YouTube Read Two Swedes jailed for life for Philippine Internet porn 9:04am EDT Earthquake fever hits Rome as some fear "the big one" 8:38am EDT Woody Allen comedy delights at Cannes opening | 10:34am EDT Man jumps to death off world's tallest tower in Dubai 10 May 2011 Facebook may have leaked your personal information: Symantec 12:46am EDT Discussed 144 Obama at U.S. base to pay tribute to bin Laden mission 124 Boehner demands trillion-dollar cuts in debt deal 97 Son says bin Laden sea burial demeans family: report Watched Exquisite chocolate source rediscovered through DNA testing Tue, May 10 2011 U.S. and China find common ground on currency Tue, May 10 2011 Japan refugees make brief trip home Tue, May 10 2011 Visa to launch digital wallet for U.S. banks Tweet Share this By Maria Aspan NEW YORK (Reuters) - Visa Inc, the world's largest credit and debit card processing network, is building a digital wallet that people can use to pay for things online or with their phones instead of with traditional cards. The... Email Print Related News "Wave to pay" chipmaker hires IPO banks: sources Mon, May 9 2011 UPDATE 2-"Wave to pay" chipmaker hires IPO banks - sources Mon, May 9 2011 UPDATE 4-Visa profit rises, but regulations weigh Thu, May 5 2011 Special report: Can China's billions spur the next big idea? Thu, May 5 2011 UPDATE 2-Telcos' Isis looks beyond Discover, Barclays Wed, May 4 2011 Analysis & Opinion Beware of Sony’s offer in wake of data attack Virtual currencies are coming for your cash Related Topics Technology » Stocks A man uses his mobile phone as he waits for a skytrain in Bangkok September 23, 2010. Credit: Reuters/Chaiwat Subprasom By Maria Aspan NEW YORK | Wed May 11, 2011 10:40am EDT NEW YORK (Reuters) - Visa Inc, the world's largest credit and debit card processing network, is building a digital wallet that people can use to pay for things online or with their phones instead of with traditional cards. The network said on Wednesday it is working with several large U.S. and international banks to develop the wallet. Its partners include US Bancorp, PNC Financial Services, Regions Financial, BB&T Corp, Toronto Dominion's TD Bank and the U.S. arm of Barclays PLC. The "digital wallet" will store the banks' customers' credit and debit card account information, both for Visa cards and other cards. People can use the wallet to pay for things online or in stores, Visa said. The network will also have to convince merchants to put a new "one-click" button on their websites, so that potential customers can use their Visa digital wallets to buy things by clicking the button instead of by manually entering all of their account information every time they want to make an online purchase. Banks, mobile phone operators and networks like Visa are all trying to gain a foothold in the small but high-potential market for U.S. mobile payments. Last week Isis, a separate mobile payments venture run by three of the top four U.S. carriers, said it had modified its initial goals and was now open to working with Visa and MasterCard as it introduces its own mobile wallet. Jim McCarthy, Visa's head of global products, told Reuters in an interview on Wednesday that mobile payments in the United States "will more easily take off" from people using their smartphones' browsers to buy things online. But Visa and its rivals, including MasterCard Inc, American Express Co and Discover Financial Services, are also trying to figure out ways for people to buy things with their phones in physical stores. McCarthy said that a previous, separate Visa pilot to test smartphone payments with Bank of America Corp and other large U.S. banks will be commercially available this summer. Visa will roll out the digital wallet in the United States and Canada in fall of 2011. McCarthy would not discuss revenue projections. The San Francisco-based company is increasingly looking to new technology for growth, in the face of an increasing saturated U.S. credit and debit card market and tightening regulations of that market. Visa shares were down 1.4 percent at $79.22 on Wednesday morning. (Reporting by Maria Aspan, editing by Dave Zimmerman) Technology Tweet this Share this Link this Digg this Email Reprints We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. Comments (0) Be the first to comment on reuters.com. Add yours using the box above. 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