More merchants are signing up for Visa Checkout, the payment solution for online shopping that aims to keep consumers from abandoning their online carts by allowing them to complete their purchases with just a few clicks.
New merchants on board with Visa Checkout include Alaska Airlines, Chick-fil-A, Cole Haan, Emirates and Wyndham Hotel Group.
Michael Prince, president and Chief Operating Officer of Cole Haan, said the retail industry is changing quickly. “We’re partnering with Visa to ensure we are offering the best payment options for our customers,” said Prince. “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.
Visa aims to tackle abandoned cart problem
Retailers have long been frustrated by consumers’ propensity to put items in their online carts but never follow through with the actual purchase. Visa Checkout was designed to combat this issue, known as “conversion rate.” Shoppers using Visa Checkout are more likely to complete a purchase. Studies have found that Visa Checkout users complete 86% of their transactions once they loaded up a virtual 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 of digital solutions at Visa. He called Visa Checkout “the cornerstone of our digital product suite” and said it comes with many other innovative solutions to help merchants target consumers.
Merchants also like Visa Checkout, saying it is simple to integrate into their sites and drives many new customers to them as well.
Bank of America makes it easier for folks to enroll in Visa Checkout
Bank of America is right on the forefront of the Visa Checkout experience, making it easy for their customers to use with their eligible Visa cards. Customers’ cards are pre-loaded into Visa Checkout. The partnership between Bank of America and Visa is resulting in thousands of new customers per day enrolling in Visa Checkout.
Visa Checkout now reports they have over 12 million consumer accounts, hundreds of thousands of merchants, and more than 675 financial institutions on board. Sixteen countries across the globe use it, and expansion into India and five more European countries is set for the end of 2016.