Visa Checkout: eCommerce at the Speed of “Swipe”
By Sam Shrauger, SVP, Digital Solutions
Quick and easy are two words not normally associated with online shopping – or at least the “paying” part. Today, we are setting out to change that perception with Visa Checkout, a new and easier way to pay online, on any device, with just a few clicks.
Consumers are already using their Visa cards online in mass numbers – just under 50% of all eCommerce spending in the United States is done with a Visa product*. But while eCommerce grows at a steady pace, the online checkout experience continues to be a consumer pain point, with shopping cart abandonment rates as high as 68%. And as screens become smaller, the problem becomes even more pronounced, with 86% of mobile users giving up before checking out**.
It shouldn’t be this hard. Visa Checkout is designed to bring the ease and security our customers know and love to the online world by enabling you to pay with just a username and password. No matter whether you make a purchase from a desktop, mobile device or within a mobile app, you can pay without ever leaving a merchant site – just as if you’re in a retail store.
Sign-up is easy and we’re launching with some of the web’s biggest merchants ranging from Pizza Hut and Neiman Marcus to Staples and United Airlines, with more than 100 other merchants you know and love like 1-800-FLOWERS®, Jos. A. Bank, Live Nation, lululemon athletica, MovieTickets.com, Newegg, Rakuten.com, Teleflora, Ticketmaster, TigerDirect and Wine Enthusiast.
More than 180 of our banking partners throughout North American and Australia, including Bank of America, BB&T, Chase, Citi, Navy Federal Credit Union, PNC, US Bank and Wells Fargo, are all also participating in Visa Checkout. For a complete list, click here.
In addition to starting to see Visa Checkout on many of your favorite merchant and banking websites, we’re launching a national advertising campaign that will be hard to miss. Stay tuned for more on that soon.
Simply put, Visa Checkout is your Visa card for the digital world and we’re thrilled to offer it to consumers throughout the U.S., Canada and Australia today. We hope you love it as much as we do.
SVP, Digital Solutions
* Source: U.S. eCommerce Market Share, Q1 2014, comScore
** Source: Shopping Cart Abandonment, February 2014, eMarketer