Visa has reworked and rebranded its V.me digital wallet as it has another crack at carving out more of the online purchasing market.Visa won't say how many people signed up for the V.me wallet, which only went live in Australia last December, although it claims it was very successful and had also attracted 40 well-known merchant brands which accepted V.me payments.But Visa now recognises it did its own brand no favours at all by calling the service V.me. The new name, Visa Checkout,  reinforces the company's brand and is now described as a "payments experience" that allows people, once registered, to use any internet connected device to complete a payment by pressing the Visa Checkout button on a merchant's website and inputting their logon and password.Apart from Event Cinemas, which is already offering Visa Checkout, Visa hasn't named any other merchants or financial services companies which have committed to the scheme. However all users of V.me will automatically be converted across to Visa Checkout.Like V.me, Visa Checkout allows multiple different card details (not just Visa branded cards) to be used to complete a payment.Arch rival MasterCard also offers a digital wallet and online payment service,  MasterPass, and has said that from next month it will allow merchants to feature in-app payments buttons that can complete a payment with a single click.However, both Visa and MasterCard have to fend off PayPal which has carved out a strong niche in online payments. The most recent HP-RFI Australian Payments Research Report notes that PayPal is the preferred online payment mechanism for 53 per cent of Australians (up from 51 per cent six months earlier).Meanwhile just 19 per cent prefer to pay online using Visa or MasterCard credit cards, and 15 per cent prefer scheme debit cards for online purchases.The report noted that, while credit cards scored well above cash when it came to security, "both are beaten by PayPal which is the undisputed king of positive security association."Visa, however, is stressing its security credentials with the release of Visa Checkout as all customer personal and financial data will be held on its own, rather than merchants', computer systems.Visa Checkout is being released initially in Australia, Canada and the US.The author attended the launch of Visa Checkout as a guest of Visa.