Visa Checkout usage for online, mobile sales increases at major retailers

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With eCommerce growing at four times – and mobile commerce growing at eight times – the rate of traditional commerce Visa points to the fact that more merchants are making Visa Checkout available to their online shoppers ‘to help simplify the checkout experience and increase sales’.

Starbucks, Walgreens, NFL Shop, HSN and Match are among the new merchants taking advantage of Visa Checkout’s ability to deliver seamless digital payments. Walmart.com will also begin supporting Visa Checkout this year.

“Delivering a seamless payment experience for our customers is a priority for us,” said Ryan Records, vice president of Starbucks Global Card, Commerce & Payment. “Integrating Visa Checkout as a way to reload your Starbucks card in our world-class digital platforms is a great way to provide our customers with the reload options that are most convenient and relevant to them.”

Visa Checkout’s rollout has been among the fastest and most successful Visa consumer product launches in company history, says the company, as merchants and their customers seek easier, more convenient ways to pay with their cards in an increasingly digital world. More than 10 million consumer accounts and 600 financial institutions in 16 countries have signed up to use Visa Checkout since its launch 18 months ago.

According to new research from comScore, Visa Checkout is more effective than other checkout options at driving conversion, which means that shoppers who start a checkout process are more likely to complete it, when using Visa Checkout. Checkout abandonment rates have been an ongoing challenge for merchants trying to increase sales in digital channels, particularly on smaller screens of mobile phones.

The comScore survey, which was completed in December 2015, found that enrolled Visa Checkout customers:

  • Completed 86 percent of transactions from the online shopping cart
  • Have a 51 percent higher conversion rate when compared to customers using a merchant’s traditional online checkout

“We are seeing tremendous Visa Checkout growth as we enter 2016 and are greatly encouraged by the enthusiastic response from consumers and merchants alike,” said Sam Shrauger, Senior Vice President of Visa’s Digital Solutions. “By re-engineering the Visa card for the digital world, we’re delivering a better way to pay through connected and mobile devices.”

During the 2015 holiday season, more customers than ever visited merchants’ websites, especially when using a mobile device. The latest numbers from Visa reinforce these experiences:

  • Visa Checkout customers are increasingly making purchases with mobile devices.
  • Nearly half (45 percent) of Visa Checkout shoppers used a smartphone, tablet, or other mobile device in making an online purchase during the 2015 holiday period. Just six months ago, it was closer to one-third.
  • Between July and November, the share of Visa Checkout customers using a mobile device grew by 10 percent. More than 46 percent of customers who took advantage of a Visa Checkout promotion were new to that retailer, according to a survey completed by six Visa Checkout merchants.
  • comScore data also showed a 7 percent higher transaction size for Visa Checkout orders, compared to non-Visa Checkout orders at many of the leading retail and travel sites.

As of December 31, 2015, Visa Checkout had more than 10 million consumer accounts. More than a quarter million large and small merchants and 600 financial institution partners now offer Visa Checkout globally. Visa Checkout is available in 16 countries around the world, including: Australia, Argentina, Brazil, Canada, Chile, China, Colombia, Hong Kong, Malaysia, Mexico, New Zealand, Peru, Singapore, South Africa, United Arab Emirates, and the United States.

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Categories: Online Payments

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