96 percent of users call new service “secure” way to pay online1
SÃO PAULO–(BUSINESS WIRE)–Oct. 23, 2015– Visa, the global leader in payments, today announced the launch of Visa Checkout in Brazil, the online checkout service that allows consumers to make purchases quickly and easily from any device. The first merchant to offer Visa Checkout is Futebolcard, the Brazilian service which allows soccer fans to purchase tickets for games in 12 different stadiums.
“In an increasingly digital world, people are spending more and more time browsing, shopping and paying on their mobile devices. As screens get smaller, it’s more important than ever that shoppers are able to make fast, easy payments in just a few clicks. In the US, shoppers made purchase more often when using Visa Checkout compared to customers using other payment options,” says Percival Jatoba, vice president, products, Visa do Brasil. “With this streamlined approach to payments, merchants and financial institutions see higher conversion rates which ultimately brings new customers and drives higher sales. We are excited to bring these benefits to our clients and customers across Brazil.”
Visa and FutebolCard are leveraging an existing partnership. Since 2007, fans can choose Visa Passfirst at Futebolcard website, an innovative service that enables fans to purchase stadium seats online with their Visa cards, which then act as a digital ticket to the stadium. To enter, fans just need to bring their Visa card and swipe it through dedicated turnstiles.
Easier Way to Pay
For consumers and online retailers, Visa Checkout offers an easy and secure way to pay online. Enrolling in Visa Checkout is intuitive and simple, and shoppers can use any Visa debit or credit card or even other branded cards to make purchases from a PC, mobile device or within a mobile app. Once enrolled, shoppers simply provide their username and password to complete the payment process — without ever having to leave the merchant’s website.
The online checkout experience continues to be a consumer pain point with shopping cart abandonment rates as high as 68 percent, according to research firm, eMarketer2. In many cases, consumers have to click through multiple screens, filling out detailed information before completing a purchase. The problem is even more pronounced as devices become smaller with 86 percent of shoppers never completing their purchases on mobile devices. A research made by eMarketer3 also revealed that sales conversion with smartphones users with an express checkout service, such as Visa Checkout, jump to 65 percent.
According to comScore1, since August 2014, the average transaction size was seven percent higher than non-Visa Checkout orders in some segments.comScore also found that 96 percent of consumers felt secure making a purchase with Visa Checkout, while 95 percent said the sign-up was quick and easy. All in all, 90 percent of Visa Checkout users said they are likely to continue using the product.
Visa Checkout: more than six million customers enrolled globally
Since its launch less than a year ago, more than six million customers have signed up for Visa Checkout accounts. A quarter million large and small merchants and more than 330 financial institution partners now offer Visa Checkout globally. These represent some of the biggest retailers on the internet, including Staples, Rakuten, Neiman Marcus, Gap, Pizza Hut, Orbitz, and Virgin America.
Visa Checkout is available in 16 countries around the world. These are: Australia, Argentina, Brazil, Canada, Chile, China, Colombia, Hong Kong, Malaysia,Mexico, New Zealand, Peru, Singapore, South Africa, United Arab Emirates, and the United States.
1: U.S. eCommerce Market Share, Q1 2014, comScore2
2: Shopping Cart Abandonment, February 2014, eMarketer
3: eCommerce & Mobile Growt, eMarketer, US Retail Ecommerce: 2014 Trends and Forecast
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 56,000 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, ahead of time with prepaid or later with credit products. For more information, visit usa.visa.com/about-visa, visacorporate.tumblr.com and @VisaNews.
Source: Visa Inc.