BBVA will be the first financial institution to launch Visa’s digital wallet in Spain, with a trial set for November ahead of a full commercial launch in 2013. by Visa aims to offer a "unique" level of security as it enables users to make secure online payments to participating merchants with a username and password, and customer card details are not passed on to the retailer.

In the US, PNC and US Bank have both committed to using The service is set to launch in the UK in the fourth quarter of 2012 followed by France.

David Puente, business development director, BBVA Spain and Portugal, said at the lender has experienced a "rapid growth in e-commerce" and demand from customers.

"We have been working closely with Visa to develop the service and we are pleased to become the first partner to launch the digital wallet in Spain," added Puente. by Visa also offers a fast one-click (on login) payment option and a streamlined online checkout experience aims at decreasing consumer cart abandonment and uplifting sales conversions.

Mariano Dima, executive vice president, marketing and products at Visa Europe, said:

" is the new way for consumers to pay online, creating an easier, faster and more convenient shopping experience."

The by Visa service will, reportedly, continue to evolve post-launch to incorporate other Visa payment technologies, including contactless transactions at the point of sale and person-to-person payments.