Last July, Visa introduced Visa Checkout, the company’s own online payments service for desktop and mobile devices. The service is meant to simplify the online purchase process by allowing Visa card holders to use a Visa Checkout ID on purchases at select merchant websites. Consumers have the option to use Visa Checkout at many online retailers that range from apparel to electronics, specialty items and travel. Recently, Visa expanded its service by adding new merchants to the program in the U.S., Canada and Australia. These merchants include Dunkin’ Donuts, Fandango, Williams-Sonoma and Sundance Catalog in the U.S., Pizza Hut in Australia, and several others throughout the three countries.
Visa Checkout option for Fandango
Visa will also push its service with several new marketing campaigns this summer, including social media campaigns and co-marketing with brand partners. For example, Visa will be a launch partner for Pinterest’s new Cinematic Pins, which are Pinterest ads with motion. Visa will also be working with both Virgin America and Crazy 8 to promote Visa Checkout with Cinematic Pins. The company plans to partner with the NFL to integrate Visa Checkout into the fan experience and promises a big presence at the 2016 Olympics in Brazil.
Visa Checkout and its participating merchants have seen major success so far, with Visa reporting that Checkout shoppers were 66% more likely to complete a transaction than shoppers who had to constantly re-enter their payment information. Since the introduction of Visa Checkout in July 2014, more than 4 million consumers have signed up for the service. With this in mind, Visa can expect to see several more retailers jump on the bandwagon and offer the digital payment service in the future.