SAN FRANCISCO--(BUSINESS WIRE)--With eCommerce growing at four times – and mobile commerce growing at eight times – the rate of traditional commerce1, Visa today announced 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, 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.
Improved Consumer Experience, Increased Customer Sales
According to new research from comScore 2, 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 cart2
- Have a 51 percent higher conversion rate when compared to customers using a merchant’s traditional online checkout2
“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.”
More Shoppers Go Mobile
During the 2015 holiday season, more customers than ever visited merchants’ websites, especially when using a mobile device.
The latest numbers from Visa3 reinforce these experiences:
Visa Checkout customers are increasingly making purchases with
- 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.4 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.
Visa Checkout merchants are reaching new customers and growing
- 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.5
- 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.6
A Visa Card for the Digital World
As consumers make more purchases using smartphones, tablets and other connected devices, merchants increasingly see the need for a digital payment experience that is easy and convenient for consumers and simple to integrate into their existing systems.
Visa Checkout delivers on both fronts. When shopping online, consumers simply log in, then click a button to complete their purchase. There’s no need to re-enter payment and billing information, which makes the experience faster and easier, especially on mobile devices.
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.
Visa Checkout merchants represent some of the biggest retailers on the internet, including Best Buy, Gap, Neiman Marcus, Pizza Hut, Staples, Rakuten, Under Armour, Virgin America, Williams Sonoma and zulily. For a full list of participating merchants, and to learn more about Visa Checkout’s benefits for merchants, issuers and consumers alike, visit www.visacheckout.com.
About Visa Inc.
Visa Inc. (NYSE:V) is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world's most advanced processing networks — VisaNet — that is capable of handling more than 65,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa's innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, pay ahead of time with prepaid or pay later with credit products. For more information, visit usa.visa.com, visacorporate.tumblr.com and @VisaNews.
1 eMarketer 2015
2 comScore 2015 Visa Checkout Study, commissioned by Visa. Based on data from the comScore research panel of one million U.S. PC/laptop users, April-October 2015.
3 Proprietary Visa data that measures consumer activity in the Visa Checkout lightbox.
4 Data reporting period from November 18 - December 8, 2015
5 Data captured during relevant promotion periods for each merchant
6 comScore 2015 Visa Checkout Study, commissioned by Visa. Based on data from the comScore research panel of one million U.S. PC/laptop users, August-December 2014.