The two firms will become independent publicly traded companies in 2015. The move follows pressure from investor Carl Icahn to spin off the payments ...
Consumers in the United States, Canada and Australia can use Visa Checkout.
Visa Inc. has launched Visa Checkout for online shoppers in the United States, Canada and Australia. The moves follows a comScore Inc. report that shows that in the first quarter of 2014, 47% of e-commerce spending in the United States involved a Visa payment product.
Consumers who enroll in Visa Checkout have their Visa-branded debit or credit card data stored by the service. Registered shoppers then need only provide user names and passwords to make online payments with participating retailers, and the consumer remains on the e-commerce site while signing in. Retailers have objected to other authentication services that take the consumer off the site to fill in her identifying information. One main point of the service, Visa says, is to keep consumers from abandoning transactions when faced with multiple screens for payment.
Participating retailers include Staples Inc. (No. 3 in the Internet Retailer Top 500 Guide), Neiman Marcus (No. 41), and Pizza Hut Inc. ““Visa Checkout offers our customers another simple and secure way to quickly order online from Pizza Hut,” says Baron Concors, chief digital officer, Pizza Hut.
Visa plans to promote the service through a “multi-million” dollar ad campaign that will include marketing not only on TV but online and via social networks.
“As people around the world spend more time and money online, particularly using mobile devices, they are demanding a fast, secure and frictionless way to shop using the payment cards they already know and trust,” says Charlie Scharf, Visa’s CEO. “Through insights provided by our cardholders, financial institutions and merchant partners, we designed an online payment experience that continues to deliver on this promise, bringing us closer to the simplicity and speed of the ‘swipe’ in the online world.”