Wednesday, January 31, 2018
Visa Checkout, which enables consumers to pay with just a few clicks at online merchant sites, has surpassed one million enrolled accounts in the UK just seven months after launch.
The service, which now claims over 25 million registered accounts in 26 markets worldwide and more than 350,000 merchants, has been boosted in the UK by several major merchant integrations, including lastminute.com, Domino's, eBuyer, Match.com and HMV.
Co-operative Bank, HSBC, NatWest, Nationwide and Royal Bank of Scotland are also integrating their card art into the service for cardholders, while a host of new partners including Adyen, Braintree, CyberSource, Pay360, Judopay, SafeCharge, Worldline and Worldpay have signed up in recent months to offer the service to their merchants.
Visa says that as much as a third of payment volumes at registered sites are now attributed to Visa Checkout, making the UK one of the fastest-growing markets for the service globally.
Tony Holdway, sales & marketing director, Domino’s, confirms: "We have seen fantastic adoption, with a significant proportion of our new and existing customers choosing to pay for their orders with Visa Checkout.”
Consumer research commissioned by Visa shows that takeaway food is one of the key sectors for online spending in the UK. Over half (52%) of Brits have ordered takeaway online, a figure which rises to 85% of millennials between the ages of 18-35. Visa’s Digital Payments Study 2017 also shows that a quarter (26%) of those surveyed made their takeaway orders using a mobile device, where a slick and quick checkout process is paramount.
William Levaggi, VP, digital products at Visa in Europe, says: “Consumers have trust in the Visa brand, and the ease of using Visa Checkout in turn reduces online basket abandonment for retailers. Our merchant partners have seen a marked increase in conversion rates from customers using Visa Checkout. As online channels continue to be a key interface with consumers in the retail and service sector, it is more important than ever to offer people the right balance between security and convenience when they make payments.”