Visa Debuts a Digital Swipe for Visa Checkout
Will a digital swipe on a mobile phone increase consumer purchases? Visa is betting “yes.”
The payments network has launched a feature for its Visa Checkout online and mobile payment service that enables consumers to make purchases by swiping a digital representation of their Visa-branded credit, debit or prepaid cards across a bar on a merchant’s checkout page. After the swipe—the digital card moves from left to right, underneath the cost information, according to a demonstration from Visa—consumers enter their Visa Checkout passwords to complete transactions.
Visa Checkout, which launched in 2014, stores consumers’ payment and billing information, allowing users to log in and click a button to complete their purchases without having to re-enter the payment and billing information. Now, with the swipe checkout, Visa expects to enable a retail boost. Tests show that Visa Checkout users “were twice as likely to click-through and complete their purchase, compared to the existing Visa Checkout experience,” According to Visa. Visa Checkout has some 11 million consumer accounts, “hundreds of thousands” of participating merchants and 600 participating financial institutions.
“This design-led innovation is proven to increase conversion, helping merchants reach new customers, especially millennials, who are increasingly using their mobile devices to make purchases,” said Sam Shrauger, Visa’s senior vice president of digital solutions.
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- Visa Fingerprint Payments Demo at MWC