E-commerce shopping habits have driven payment providers to offer streamlined solutions that reduce checkout abandonment and lost sales for merchants. As the following article reports, Visa Checkout has been successful in the UK and has now reached 1 million users.
Visa Checkout, Visa’s online payment solution, has reached one million customers in the UK in less than a year. Launched in May 2017, Visa Checkout enables online payments in just a few clicks.
The popularity of the option has been attributed to major merchant integrations. These include collaborations with lastminute.com, AXS, Domino’s, Ebuyer, HMV, Match.com, and Mighty Deals. Visa stated that some UK merchants are witnessing a third of their payments volumes on their websites going through Visa Checkout.
Carleigh Jaques, SVP, Global Head of Digital Merchant Products, Visa, said: “Today, consumers expect their favourite brands to offer seamless payment experiences across physical and digital touchpoints.
“Through Visa’s CyberSource payment management platform, our merchant customers like Domino’s, are empowered to bring their consumers the latest digital payments innovations, like Visa Checkout, to markets around the world. The power of our platform, coupled with Visa Checkout, delivers the safety, security and convenience that our merchants and their customers – in Europe and around the world – have come to expect from Visa.”
New partners are continuing to join the fold. Some of the companies integrating the solution include Adyen, Braintree, CyberSource, Pay360, Judopay, SafeCharge, Worldline and Worldpay, who all have signed up to offer the service to their merchants.
Edgar Verschuur, Head of Global Acquiring, Adyen, said: “In a highly competitive marketplace, the payment experience plays a critical role in business success. Adyen is committed to help merchants deliver a frictionless experience through all their channels. As the payments platform of choice for the world’s leading merchants we are excited to launch this latest Visa product. We have made Visa Checkout available for all markets through one integration to our single platform. As such our merchants can easily reach their shoppers around the globe.”
Many providers besides Visa, including Mastercard, PayPal, and Amazon, have developed friction-free solutions that speed buyers through the online checkout process. As with Visa Checkout, different payment cards are accepted, so there is a good deal of reciprocity that occurs among the various networks and issuers. Winners are shoppers and merchants that increasingly depend on e-commerce for the wide spectrum of products and services available on the web.
Overview by Raymond Pucci, Associate Director, Research Services at Mercator Advisory Group
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