Visa Checkout, a Visa Inc. payment scheme designed for speed and security, was introduced in July 2014 and has gained a steady following in the United States, Canada and Australia as consumers select the one-touch payment method on computers, tablets and mobile phones, according to Visa. The company reported that over 3 billion consumers have used Visa Checkout thus far; of those, 40 percent were new users, and 75 percent were active and repeat users.
Visa addressed four key areas when devising Visa Checkout: security, speed, simplicity and community. The company detailed them as follows:
Visa reported that Bank of America Corp., touting the "express line online," was offering a Visa prepaid card to its customers with all new Visa Checkout enrollments through March 31, 2015. PNC Bank described the solution as a "digital payment service that can make checking out online with your PNC cards as fun and easy as online shopping." In addition, the card brand noted that shoppers can find Visa Checkout in every retail category, including apparel, electronics, entertainment, specialty and travel brands.
Sam Shrauger, Senior Vice President of Digital Solutions at Visa, said he was encouraged by public receptivity to Visa Checkout in the United States, Canada and Australia. He noted that consumers and merchants alike appreciate its simplicity and ease, which is "particularly important as people shop and buy more frequently on smaller devices like phones and tablets."
The additional 13 markets the company expects to reach in 2015 are Argentina, Brazil, Chile, China, Colombia, Hong Kong, Peru, Malaysia, Mexico, New Zealand, Singapore, South Africa, and the United Arab Emirates.
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