SAN FRANCISCO & LAS VEGAS--(BUSINESS WIRE)--Today at industry retail show Shoptalk, Visa announced that a new and diverse set of merchants across the web including Alaska Airlines, Chick-fil-A, Cole Haan, Emirates and Wyndam Hotel Group have signed on to offer Visa Checkout for fast and easy online and mobile payments.
“The entire retail industry is changing – and we’re partnering with Visa to ensure we are offering the best payment options for our customers,” said Michael Prince, president and COO of Cole Haan. “With the addition of Visa Checkout, we’re making it as easy for our consumers to shop on their mobile devices as it is to swipe a card in our Cole Haan stores.”
A common challenge among online retailers, consumers often put items in their carts, but ultimately abandon purchases because paying online, particularly on mobile devices, is too complex. Visa Checkout was designed specifically to solve this conversion issue, by enabling payments in just a few clicks. A recent comScore study found that Visa Checkout has a 51 percent higher conversion rate among enrolled Visa Checkout customers when compared to customers using a merchant’s traditional online checkout. This means that shoppers who start a checkout process are more likely to complete it, when using Visa Checkout. In fact, according to the comScore study, enrolled Visa Checkout customers completed 86 percent of transactions from their online shopping cart.
“Visa Checkout is how we’ve reengineered the card that people already know and love to work as well online and on mobile devices as it does today in physical stores,” said Sam Shrauger, senior vice president, Digital Solutions, Visa Inc. “Visa Checkout is the cornerstone of our digital product suite and is complemented by an array of innovative solutions we have built for today’s merchants that are targeting the connected consumer.”
Partners see results from Visa Checkout
“It was incredibly simple for us to integrate Visa Checkout into our shopping site, and it’s already helped simplify the payment experience for current customers while driving thousands of new digitally savvy customers to HSN,” said Bill Brand, President of HSN. “Checkout is a win for HSN and for our customers which is why we’re looking forward to incorporating more innovative payments services from Visa across our online properties.”
“Wyndham Rewards is the world’s simplest and most generous hotel loyalty program, so it’s a natural fit for us to be the first hotel group providing our millions of loyal members a simpler, easier way to book via Visa Checkout and our Wyndham Rewards app,” Noah Brodsky, SVP Worldwide Loyalty & Engagement. “We understand travelers’ time is precious and this integration offers an easy, fast and secure mobile booking option for any of our nearly 8,000 hotels worldwide.”
Visa Checkout is also expanding its engagement with financial institutions. Bank of America recently announced that it has pre-loaded its customers’ eligible Visa cards into Visa Checkout from its online banking site, to make it easier for individuals to enroll. This unique partnership and the popularity of Visa Checkout among Bank of America customers has resulted in thousands of new consumers enrolling in the service each day on average.
Growth of Visa Checkout
One of the fastest-growing consumer products in the company’s history, Visa Checkout now has more than 12 million consumer accounts. Hundreds of thousands of merchants and more than 675 financial institution partners now offer Visa Checkout in 16 countries around the world; expansion into five additional European countries and India will take place by the end of 2016.
Visa Checkout merchants represent some of the world’s biggest retailers including Best Buy, Fandango, Gap, Neiman Marcus, Pizza Hut, Staples, Starbucks, 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.
Visa at Shoptalk 2016
Visa Checkout hosted the Shoptalk Poolside Cocktail Party at ARIA hotel’s Yucca Pool on Monday, May 16. Team Visa Olympian David Wise, freestyle skier and gold medalist, was on hand for introductions and photos, which party-goers posted using #VisaCheckout.
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/about-visa, visacorporate.tumblr.com and @VisaNews.
