SAN FRANCISCO | Visa rebrands its V.me by Visa service to Visa Checkout. Visa's new checkout option will allow US, Canadian and Australian shoppers to speed through the online checkout process in just a few steps and complete online, mobile and in-app card payments by simply entering username and password. Visa Checkout replaces the current V.me by Visa service, first introduced in 2012, and get its own acceptance mark.
Visa Checkout to Enhance Checkout Experience and Increase Conversion
Numerous studies show that many online and mobile shoppers abandon their online purchase because the payment checkout is to difficult. The need to enter 16 digits of the card number, the expiry date, CVV2 code (3-digit security code on the back of the card) and sometimes even an additional Verified by Visa passcode, causes shoppers to abandon their shopping cart and leave merchants with lost opportunities. Especially on mobile devices, and smartphones in particular, the traditional card checkout is too difficult, time-consuming and even frustrating.
V.me by Visa, now rebranded to Visa Checkout, is too smoothen the card checkout process regardless the shopping device. Shoppers simply select the Visa Checkout button on the merchant's page and enter a username password, select their card and shipping information. The securely stored card details are then processed as normal over the credit or debit card processing rails used by the merchant. The bank of the consumers approves payment (or declines) and the merchant receives instant confirmation. As Visa Checkout improves and simplifies payment checkout it is most likely that abandon rates will drop and merchant benefit from higher conversion rates.
First Visa Checkout Merchant in Australia
Event Cinemas is the first merchant in Australia to offer Visa Checkout. “The fastest growing way in which our customers buy tickets is on their mobile. Our customers pick their movie, session time, their seats and even candy bar treats on our mobile website and the Event Cinemas App. Completing their transaction with us quickly, in a trusted and hassle free way is critical to our business,” said Kristie Atkins, Director of Sales, Amalgamated Holdings Limited (owner, Event Cinemas). In the United States, Neiman Marcus, Pizza Hut, Staples and United Airlines are some of the newest merchant partners to join other top online retailers to offer Visa Checkout.
V.me by Visa merchants to rebrand
The many merchants currently live with V.me by Visa including CatchOfTheDay, Escape Travel, JB Hi-Fi Home and DealsDirect.com.au will rebrand to Visa Checkout in the coming months. Account holders who are currently signed up to V.me by Visa will automatically move to the new service and be able to sign in with their same username and password.
Driving Mass Consumer Adoption
Visa will drive broad awareness for Visa Checkout through a multi-million dollar advertising campaign, launching today in digital and social channels, and on television later this year. The campaign will feature participating merchants and a broad range of consumer offers and promotions.
Visa Checkout Software Development Kit (SDK)
With the launch of Visa Checkout, a new mobile SDK is also available, allowing developers to quickly build and implement a native in-app checkout experience for iOS and Android-based devices. The Visa Checkout SDK files and related documentation are available for download from the Visa Developers website.
Sourced from Visa Inc, July 16th, 2014