Visa Checkout announces enrolled customer conversion rate of nearly 70 percent* – 4 mil. customers have signed for the service in one year

Since its launch less than a year ago, more than four million customers have signed up for Visa Checkout accounts. More than 125,000 large and small merchants and 260 financial institution partners now offer Visa Checkout globally. These represent some of the biggest retailers on the internet, including:Staples, Rakuten, Neiman Marcus, Gap, Pizza Hut, Orbitz, and Virgin America.

Visa Checkout will be available in 16 markets by the end of 2015. These are: Australia, Argentina, Brazil, Canada, Chile, China, Colombia, Hong Kong, Malaysia,Mexico, New Zealand, Peru, Singapore, South Africa, United Arab Emirates, and the United States.

A new report from comScore* found that Visa Checkout shoppers convert to online buyers at a rate of 69 percent. This is likely because Visa Checkout customers complete online transactions faster than other shoppers who have to re-enter card and shipping information every time they want to purchase in the traditional check out flow, according to the press release.

Other findings included:

• Enrolled Visa Checkout customers were 66 percent more likely to complete a transaction than customers who must enter billing and card information in the traditional online checkout path.
• The average order total placed with Visa Checkout was seven percent higher than orders placed on retail and travel sites with other payment options.

“One of the biggest issues for online merchants is the cumbersome process of card data input that leads to consumer cart abandonment. Addressing this pain point for both merchants and consumers is crucial,” said Nick Holland, retail payments practice lead, Javelin Strategy & Research.

Visa Checkout is an online service from Visa that allows consumers to securely store their shipping and payment information without ever having to re-enter the information when shopping online. With Visa Checkout, consumers can simply enter their username and password, and click a button to complete the purchase.

1Visa’s comScore study: Visa Checkout, The Right Choice for Online Retailers, March 2015.