New Visa Checkout Button Makes Paying for Purchases Even Easier
Whether paying with a credit card, debit card, or prepaid card, shoppers will be able to check out faster using the new Visa Checkout Interactive Button, just introduced at Austin’s SXSW tech festival in March.
Visa Checkout Button allows users to slide a virtual image of their credit, debit, or prepaid card across the screen of their electronic device with a swipe, in order to complete a purchase. It works on smartphones, tablets, and laptops, and especially helps folks working on a small screen to make purchases quickly and easily.
“This design-led innovation is proven to increase conversation, helping merchants reach new customers,” said Visa’s vice president of digital solutions, Sam Shrauger. He said it would appeal especially to Millennials, who often use mobile devices to make purchases. A recent survey by Visa found that 67% of Millennials had made a purchase on a smartphone or tablet, and 45% reported doing so at least a few times each month.
Visa Checkout Lightbox was precursor to Button
Lightbox, in 2014, was Visa’s first advance that made online payments easier for customers. The innovation let folks pay on their devices without being redirected from the store site or app. But the new Visa Checkout Button takes it even further, showing the customer an image of his or her payment card. All the user has to do is swipe the card on the button to the right and enter a password inside the button. Payments are then authenticated.
Any merchant selling a service online can use the Visa Checkout Button—whether they are selling music, movies, airline tickets, concert tickets, or merchandise that they pick up in-store after ordering online. Button functionality will be expanded to shipped products during the next few months.
“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 Shrauger. “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.”
Pilot tests showed that people were twice as likely to “click through” and complete purchases when using the Visa Checkout Button, as compared to the current Visa Checkout setup. Even the old Visa Checkout has an impressive 86% conversion rate—the highest in the industry. The conversion rate shows how many people use the technology to make a purchase.
Visa Checkout clients include Pizza Hut, Virgin America, and Fandango.