Improved Consumer Experience, Increased Customer Sales
According to new research from comScore, Visa Checkout is more effective than other checkout options at driving conversion, which means that shoppers who start a checkout process are more likely to complete it, when using Visa Checkout. Checkout abandonment rates have been an ongoing challenge for merchants trying to increase sales in digital channels, particularly on smaller screens of mobile phones.
The comScore survey, which was completed in December 2015, found that enrolled Visa Checkout customers:
- Completed 86 percent of transactions from the online shopping cart
- Have a 51 percent higher conversion rate when compared to customers using a merchant’s traditional online checkout
“We are seeing tremendous Visa Checkout growth as we enter 2016 and are greatly encouraged by the enthusiastic response from consumers and merchants alike,” said Sam Shrauger, Senior Vice President of Visa’s Digital Solutions. “By re-engineering the Visa card for the digital world, we’re delivering a better way to pay through connected and mobile devices.”
More Shoppers Go Mobile
During the 2015 holiday season, more customers than ever visited merchants’ websites, especially when using a mobile device.
The latest numbers from Visa reinforce these experiences:
- Visa Checkout customers are increasingly making purchases with mobile devices.
- Nearly half (45 percent) of Visa Checkout shoppers used a smartphone, tablet, or other mobile device in making an online purchase during the 2015 holiday period. Just six months ago, it was closer to one-third.
- Between July and November, the share of Visa Checkout customers using a mobile device grew by 10 percent.
- Visa Checkout merchants are reaching new customers and growing their sales.
- More than 46 percent of customers who took advantage of a Visa Checkout promotion were new to that retailer, according to a survey completed by six Visa Checkout merchants.
- comScore data also showed a 7 percent higher transaction size for Visa Checkout orders, compared to non-Visa Checkout orders at many of the leading retail and travel sites.
A Visa Card for the Digital World
As consumers make more purchases using smartphones, tablets and other connected devices, merchants increasingly see the need for a digital payment experience that is easy and convenient for consumers and simple to integrate into their existing systems.
Visa Checkout delivers on both fronts. When shopping online, consumers simply log in, then click a button to complete their purchase. There’s no need to re-enter payment and billing information, which makes the experience faster and easier, especially on mobile devices.
As of December 31, 2015, Visa Checkout had more than 10 million consumer accounts. More than a quarter million large and small merchants and 600 financial institution partners now offer Visa Checkout globally. Visa Checkout is available in 16 countries around the world, including: Australia, Argentina, Brazil, Canada, Chile, China, Colombia, Hong Kong, Malaysia, Mexico, New Zealand, Peru, Singapore, South Africa, United Arab Emirates, and the United States.
Visa Checkout merchants represent some of the biggest retailers on the internet, including Best Buy, Gap, Neiman Marcus, Pizza Hut, Staples, 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.]]>
