Visa is extending its reach in the online payments space through the addition of Visa Checkout to 16 markets across the globe in 2015. Customers in 10 countries can now sign up for Visa Checkout, but Visa announced yesterday (Feb. 19) that an additional six markets would be added to the list.
The issuer announced that it would be rolling out its online payments option to more markets to help enable more regions to shop online using its product. The service works like an online credit card that allows users to pay-and-go at checkout without having to navigate between screens. Due to what the company called the "early momentum" in the three markets it launched in mid-2014, Visa has decided to expand its reach.
“Visa Checkout has seen tremendous growth in the U.S., Canada and Australia in just the few months since its launch,” Sam Shrauger, senior vice president of Digital Solutions at Visa, said in a company news release. “Consumers and merchants alike love its simplicity and ease, which is particularly important as people shop and buy more frequently on smaller devices like phones and tablets. Building on this positive momentum, we are aggressively carrying the service into new markets across the world throughout 2015 and beyond.”
While the service already exists in some of these markets, Visa said that by the end of the year, the online payment option will be available in the following countries: U.S., Australia, and Canada (already available) and Argentina, Brazil, Chile, China, Colombia, Hong Kong, Peru, Malaysia, Mexico, New Zealand, Singapore, South Africa and United Arab Emirates.
According to Visa, more than 3 million Visa Checkout accounts have been created, and Visa Checkout merchants have seen a 70 percent average conversion for existing users making a purchase. The service is available to make quick-payments using a computer, tablet or mobile phone, which are stored in a secure Visa account. For merchants that offer Visa Checkout, the consumer only has to enter the payment information once.
"As the rollout continues this year, select markets will begin to incorporate issuer, merchant, acquirer and channel partnerships to support local commerce with Visa Checkout. Visa will also launch localized Visa Checkout websites for many of these markets," according to the company.