Visa takes swipe at mobile payment simplicity
Add Visa Checkout to the list of solutions trying to make mobile payment as effort-free for the shopper as possible.
Visa Inc. has unveiled a digital swipe product enhancement for Visa Checkout that allows customers to slide a virtual image of their payment card across the screen of a mobile device, including tablet or laptop. After swiping right (as is done on certain popular dating apps), the customer enters their password inside the button itself to authenticate.
The interactive button is now available for use in the purchase of digital goods and services (such as movies and tickets), or for goods that are bought online and picked up in store. In the coming months, Visa will extend the functionality for the purchase of goods that are shipped.
“Visa Checkout’s new interactive button is yet another way we are designing the future of online checkout and delivering on our promise to bring the simplicity of the swipe to any device,” said Sam Shrauger, senior vice president of Visa’s digital solutions. “This new experience brings digital payments one step closer to the ease, trust and familiarity that consumers have long valued from Visa in the physical world.”
Recent pilot tests indicated that enrolled Visa Checkout customers who used the interactive button were twice as likely to click-through and complete their purchase compared to the existing Visa Checkout experience — which already has a reported conversion rate of 86%.
Visa Checkout’s new interactive button is yet another way we are designing the future of online checkout and delivering on our promise to bring the simplicity of the swipe to any device,” said Sam Shrauger, senior VP of Visa’s digital solutions.
"This new experience brings digital payments one step closer to the ease, trust and familiarity that consumers have long valued from Visa in the physical world.”
In recent months, Visa Checkout has gained major retail users including Kohl’s, Williams-Sonoma, Walgreens and Sam’s Club. However, data from Boston Retail Partners indicates only 14% of retailers currently accept Visa Checkout, with main rival Apple Pay set for major expansion this year. Visa is clearly looking to build on its early adopter base and stay current with the automatic mobile payment functionality retailers and customers seek.