Visa says that Visa Checkout has surpassed 1 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.
Visa Checkout hits 1 million enrolled UK consumers
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.
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[1]. 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.[2]
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.
“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 1 million consumers embrace this new digital payment method, whether it be to book their next holiday or order their regular takeaway,” says William Levaggi, Vice President, Digital Products at Visa in Europe.
“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.”
[1] Visa Inc and Populus research, with 3,125 consumers across three markets – UK, Ireland and Poland – between the 2nd – 12th June 2017.
[2] Visa Digital Payments Study 2017 – Visa Inc and Populus research amongst 2,077 UK respondents – July 2017
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