When it comes to eCommerce, consumer behaviors are changing fast. Gone are the days when customers had the patience to key in details like payment cards, billing, and shipping addresses. Increasingly, consumers demand easy-to-use payment solutions that allow them to check out in seconds. This is especially true on mobile devices, where tapping details on a small screen is tedious and error-prone.
For merchants, responding to this shift is critical. According to comScore, $22.7B in online purchases were made from mobile devices in Q4 of 2016, up 45% from the same period the prior year confirming continued strong growth in mobile payments, and greater than 50% of these payment transactions involve the use of stored credentials. The increased use of stored credentials suggests that consumers are seeking easier, more streamlined online payment methods, even on the first customer interaction.
Introducing Visa Checkout
Visa Checkout is a simple service that makes it easier to pay online. Once users set up an account, they can quickly make payments from any device including a smartphone, tablet, laptop or desktop. Visa Checkout works with major credit, prepaid or debit cards across all devices.
Visa Checkout can help drive higher conversion by potentially eliminating the login friction for online shoppers. Registered users can speed through checkout with biometric authentication in participating merchants’ mobile apps and, if the user has linked his/her Android Pay or Samsung Pay to his/her Visa Checkout account, use biometric authentication in mobile web. Returning users can also choose to stay signed in on trusted devices. All of these capabilities help provide a convenient, password-less shopping experience.
From a merchant perspective, adding support for Visa Checkout is easy. In partnership with Visa, Vantiv is expanding our portfolio of supported Digital payment solutions to include Visa Checkout for merchant websites and Android and iOS apps to provide customers with more convenient ways to pay online.
For merchants there are several potential benefits:
- Improve customer convenience and loyalty
- Reduce abandoned shopping carts and increase conversions
- Convert more first-time shoppers by avoiding the requirement that they set up profiles on your website or mobile app in advance of a purchase
- Avoid potential errors and administrative costs owing to incorrectly keyed shipping or billing details
Vantiv Integration for Visa Checkout
Visa Checkout integration on Vantiv will initially be for online purchases on our high-volume core processing platforms. Vantiv’s Visa Checkout integration leverages eProtect, a solution that provides added security for merchants, a streamlined integration experience, and an opportunity to reduce PCI scope by avoiding the need for merchants to handle sensitive card data in their applications.
“Vantiv’s commitment to provide businesses of all sizes a solution to enable seamless digital commerce complements Visa’s vision to make payments accessible to everyone, everywhere,” said Vish Shastry, Vice President, Digital Products, Visa Inc. “Visa is excited to deepen our partnership with Vantiv through Visa Checkout and make payments simple for both merchants and consumers.”
By leveraging eProtect, impact on existing merchant back-end systems is minimized allowing merchants to get to market faster with minimal disruption to existing operations. From a back-end payment processing perspective, merchants can handle Visa Checkout transactions just as they would transactions involving a traditional payment card as shown below.
Figure 1: Vantiv simplifies payment integrations and reduces PCI scope by avoiding the need for merchants to store card data in their systems
“We are delighted to be partnering with Visa on this important initiative,” says Scott DeAngelo, Vantiv’s Head of Product. “With Visa Checkout, customers can quickly make payments from any device. Merchants processing with Vantiv can take advantage of a straightforward integration that can help improve conversions, sales, and the bottom line.”
To help merchants quickly get up and running, Vantiv has a dedicated developer community for Visa Checkout on its Vantiv O.N.E. developer portal. Once logged into this free resource, developers can learn about the technology, explore code examples, and discuss implementation details with Vantiv and other third-party developers and industry experts.