Banks in China and United Arab Emirates offer Visa Checkout to their customers for easy and secure cross-border shopping
SAN FRANCISCO - Tuesday, August 25th 2015 [ME NewsWire]
(BUSINESS WIRE)-- Visa Inc. (NYSE:V) today announced continued global success of Visa Checkout, the online check out service that allows shoppers to pay with their cards online and on any device, with just a few clicks. In recent months, no less than thirty-three new merchants, ranging from Best Buy and Under Armour to Barnes & Noble and Taco Bell, have signed on to offer Visa Checkout.
The rapidly expanding list of merchants will continue to make it easier for consumers to buy everything they need online, on any device, using Visa Checkout. The newly signed merchant partners by country include:
United States: Best Buy, Barnes & Noble, Barnes & Noble College, Cle de Peau Beaute, delivery.com, EllenShop.com, JustFab, LivingSocial, Shiseido, ShoeDazzle, Shutterfly, Sport Chalet Mobile, StudentUniverse, Under Armour, Taco Bell, Title Nine and zulily
Australia: Event Cinemas, Village Cinemas, Hoyts, Moshtix, The Roses Only Group and Ticketek
Canada: Grand & Toy and Heart and Stroke Foundation
Colombia: Archies, Agrocampo, BabyMarket, Carulla.com, Exito.com, Falabella.com, Myriam Camhi and Unicef (due to technology partner IATAI integrating Visa Checkout)
“At Barnes & Noble College, we are all about delivering the ultimate experience to our students and other customers, and that includes offering choice and convenience in their payment options,” said Lisa Malat, vice president, operations, and chief marketing officer of Barnes & Noble College, which serves over 5.3 million students and faculty members, and operates 724 campus stores nationwide. “Our partnership with Visa Checkout offers exactly that, making the purchasing process simpler for students, while offering them opportunities to save money through discounts on back-to-campus purchases. We’re very excited to be partnering with Visa Checkout to bring this strong value proposition to our students.”
In addition to the range of new, global merchants, more issuers around the world are also offering Visa Checkout to their customers to enable fast, secure online shopping from anywhere. This is especially true in China and United Arab Emirates, where consumer demand for overseas goods continues to grow, and issuer partners now include:
China: China Merchants Bank, Shanghai Pudong Development Bank, China Everbright Bank, Bank of Guangzhou, and The Card Center, China Minsheng Banking Corp. Ltd.
United Arab Emirates: Mashreq, Emirates NBD, Majid Al Futtaim Finance, Dubai Islamic Bank, Emirates Islamic Bank
As of August 10, 2015, China Merchants Bank (CMB) and Shanghai Pudong Development Bank (SPDB) are the first two issuers in the world who have launched Visa Checkout’s mobile app inline provisioning within their banking apps, providing their customers with an easy way to enroll in Visa Checkout for shopping online at overseas merchants.
“It’s great to see banks like CMB and SPDB bringing best-in-class enrollment experiences to their customers in China who are eager to shop overseas,” said Senior Vice President of Visa’s Digital Solutions, Sam Shrauger, who recently outlined Visa’s Checkout strategy in a pymnts.com article. “As more merchants and issuers integrate Visa Checkout, the number of consumers seeing the benefit of a faster online checkout experience also grows. We’re starting to see the network effect kick-in.”
Co-Marketing Success Stories
Visa Checkout’s early success is due not only to its international expansion, but also to a series of successful co-marketing campaigns that have helped drive consumer usage while bringing new value to our innovative partners’ brands. For example, during a recent co-marketing campaign with Visa Checkout, Gymboree observed that nearly half (43 percent) of customers using Visa Checkout to make a purchase were net new customers to their Gymboree site.
To kick-off the fall, Visa Checkout will partner with The Ellen DeGeneres Show for the season 13 premiere week. Viewers will see Visa Checkout and key merchant partners in and around Ellen’s exciting premiere week, both in Los Angeles and New York City.
Visa Checkout will launch several new global co-marketing campaigns with merchants this fall, ranging from consumer promotions to social media campaigns and sponsorship marketing. Merchants that have previously partnered in successful promotional campaigns include Dunkin’ Donuts, Fandango, Gymboree, Pizza Hut, Virgin America, Williams-Sonoma and zulily in the U.S., Cineplex Theatres and Indigo Books & Music in Canada and Freedom Pizza in the United Arab Emirates.
Growth by the Numbers
The expanded list announced today brings the number of merchants offering Visa Checkout to nearly a quarter million globally, while financial institution partners have grown to over 330.
In just the last two months alone, Visa Checkout saw a surge of activity, with an average monthly enrollment growth rate of over 30 percent in June and July 2015.
Only one year after launching, the service has more than six million registered users, and has seen registered user sign ups increase by more than 92 percent since the beginning of 2015.
“Consumers expect to get what they want, when they want it in digital commerce channels and eliminating friction in the buying experience is a big part of that,” said Thad Peterson, Senior Analyst at Aite Group. “Shopping cart abandonment has been a big problem for merchants and providing a secure and seamless shopping experience increases sales. It’s essential that merchants provide customers with the tools to make shopping and buying fast and easy—and Visa Checkout does just that.”
Visa Checkout: The Easier Way to Check Out
Visa Checkout is an online service from Visa that allows consumers to securely store their shipping and payment information without ever having to re-enter the information when shopping online. With Visa Checkout, consumers can simply enter their username and password, and click a button to complete the purchase.
Since its launch less than a year ago, more than six million customers have signed up for Visa Checkout accounts. Nearly a quarterly million large and small merchants and over 330 financial institution partners now offer Visa Checkout globally. These represent some of the biggest retailers on the internet, including Staples, Rakuten, Neiman Marcus, Gap, Pizza Hut, Orbitz, and Virgin America.
Visa Checkout is available in 16 countries around the world. These are: Australia, Argentina, Brazil, Canada, Chile, China, Colombia, Hong Kong, Malaysia, Mexico, New Zealand, Peru, Singapore, South Africa, United Arab Emirates, and the United States.
About Visa Inc.
Visa Inc. (NYSE:V) is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world’s most advanced processing networks — VisaNet — that is capable of handling more than 56,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa’s innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit usa.visa.com/about-visa, visacorporate.tumblr.com and @VisaNews.
Sheerin Salimi, +1 415-805-5923