Online payment method reaches one million consumer accounts in the UK since introduction in mid-2017;
- The UK is now one of the fastest growing markets for Visa Checkout globally;
- Major merchants including The Hut Group, AXS, Domino’s, Ebuyer, HMV, Match.com and Mighty Deals signed up to offer the online payment method;
- Partners including Adyen, Braintree, CyberSource, Pay360, Judopay, SafeCharge, Worldline and Worldpay have signed to offer the service to their merchants.
Visa Inc. (NYSE:V) today announced that Visa Checkout has surpassed one million enrolled accounts in the UK. Visa’s online payment method, which was launched in May 2017, enables consumers to pay securely in just a few clicks on any device across the internet with some of the world’s top merchants.
The popularity of Visa Checkout has been bolstered by several major merchant integrations. Online travel agent lastminute.com became the first retailer in the UK and Ireland to integrate Visa Checkout, and since then, other prominent online retailers have joined including The Hut Group (whose brands include lookfantastic, Zavvi and Myprotein), AXS, Domino’s, Ebuyer, HMV, Match.com and Mighty Deals.
Such has been the success of the service that some merchants are already seeing as much as a third of payment volumes on their websites made through Visa Checkout. The UK is now one of the fastest growing markets for Visa Checkout globally
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Tony Holdway, Sales & Marketing Director, Domino’s, said: “Here at Dominos, we are always on the lookout for ways to improve and simplify the ordering process for our customers, so it makes sense that we should be amongst the first companies to offer Visa Checkout in both the UK and Ireland. We have seen fantastic adoption in both markets, with a significant proportion of our new and existing customers choosing to pay for their orders with Visa Checkout.”
“Today, consumers expect their favourite brands to offer seamless payment experiences across physical and digital touchpoints,” said Carleigh Jaques, SVP, Global Head of Digital Merchant Products, Visa. “Through Visa’s CyberSource payment management platform, our merchant customers like Domino’s, are empowered to bring their consumers the latest digital payments innovations, like Visa Checkout, to markets around the world. The power of our platform, coupled with Visa Checkout, delivers the safety, security and convenience that our merchants and their customers – in Europe and around the world – have come to expect from Visa.”
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, showing that consumers want quick, easy and seamless ways to pay digitally, something that solutions such as Visa Checkout can provide.
Leading issuers including the Co-operative Bank, HSBC, NatWest, Nationwide and Royal Bank of Scotland are integrating their card art into the service for cardholders. In addition, 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.
William Levaggi, Vice President, Digital Products at Visa in Europe, said: “Visa Checkout, which securely stores customers’ payment details, removes the hassle for customers of having to enter payment and shipping information each time they make a purchase. In a little over six months, we’ve seen over one million consumers embrace this new digital payment method, whether it be to book their next holiday or order their regular takeaway.
“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.”
Edgar Verschuur, Head of Global Acquiring, Adyen, said: “In a highly competitive marketplace, the payment experience plays a critical role in business success. Adyen is committed to help merchants deliver a frictionless experience through all their channels. As the payments platform of choice for the world’s leading merchants we are excited to launch this latest Visa product. We have made Visa Checkout available for all markets through one integration to our single platform. As such our merchants can easily reach their shoppers around the globe.”
In addition to reaching one million enrolled consumers in the UK, Visa Checkout now has over 25 million registered accounts in 26 markets worldwide and more than 350,000 merchants including some of the largest global retailers accept Visa Checkout.