Visa Launches 1-Click Shopping Service for e-Commerce (July 17, 2014)
The battle for space at the online checkout counter continues as Visa Inc. unveils a new service to enable e-merchants to add a one-click purchase button to shopping Websites and apps. Shoppers who have pre-registered a payment card with the new Visa Checkout can complete purchases by clicking the button and entering their username and password. Visa Checkout launched this week in the U.S., Canada and Australia. Participating retailers include Neiman Marcus, Pizza Hut, Staples and United Airlines. The new service replaces Visa’s V.me digital wallet, which will remain operational in Europe.
One-click online shopping features are an important tool for merchants and payment companies to overcome shopping cart abandonment–one of the biggest obstacles in e-commerce, which can reach as high as 68 percent for online shopping and a whopping 86 percent for mobile, according to a recent study by eMarketer. Services such as MasterCard’s MasterPass, PayPal and Pay with Amazon are aimed at simplifying the online checkout process, thereby reducing abandonment rates.
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