Receive the latest articles for free. Click here to get the Mobile Commerce Daily newsletters.
Walmart, Walgreens adopt Visa Checkout to narrow mobile conversion gapBy
Walmart.com, Walgreens and NFL Shop are among the latest retailers implementing Visa Checkout to drive mobile conversions, with 45 percent of the solution’s users completing purchases on mobile devices.
Visa Checkout has been making significant strides in minimizing cart abandonment rates and drive sales for retailers, with users making 30 percent more purchases than the overall market. While retailers know that their traffic resides on mobile, turning those views into purchases can be difficult on the small screen, which is why many retailers such as Walmart.com and Walgreens are taking to Visa Checkout.
“With screens and keyboards getting smaller and smaller, checking out on mobile must be incredibly simple and easy,” said Sam Shrauger, senior vice president of digital solutions at Visa, Inc. “Built with mobile in mind, Visa Checkout offers consumers a fast, easy way to check out in just a few clicks without filling out endless form fields or leaving the retailers website to complete a purchase.”
Visa Checkout mobile conversion
Walmart.com will be adopting Visa Checkout within the upcoming year while others such as Walgreens, NFL Shop, HSN and Match have just launched the addition to their checkout platforms.
Starbucks is also maximizing the number of users on its mobile payments application by extending its capabilities to include Visa Checkout, exhibiting its growth (see more).
Visa’s payments platform has an overall 86 percent checkout completion rate, with mobile sales growing by ten percent from July to November last year. Retailers are also seeing many new customers make purchases following Visa Checkout promotional deals, with 46 percent of users claiming they were new merchants.
Members who are a part of Visa Checkout complete a 51 percent higher conversion rate when compared to traditional checkout shoppers, while PayPal Express Checkout only sees 28 percent higher conversion.
The size of carts is also seeing a jump through Visa Checkout, with seven percent higher compared to traditional checkout users.
Streamlining payments platforms
The online payments service allows users are able to save credit information for more convenient and safe checkout on mobile and desktop. Visa Checkout is competing with other payments services such as PayPal Express Checkout and Apple Pay, and its long history as a finance giant may be helping its current success.
Fast food chain Taco Bell and books retailer Barnes & Noble College were among the 33 new merchants that integrated with Visa Checkout over the summer, proving that the payments platform sector continues to become more saturated and cutthroat (see more)
“A recent comScore study found that enrolled Visa Checkout shoppers convert to buyers at a rate of 86 percent on desktop and laptops,” Mr. Shrauger said. “While there is not a similar pool of data available for mobile, our proprietary Visa data is in line with what comScore found in those channels.
“The Visa data also tracks mobile and shows that that we are consistently right around 75 percent conversion on mobile devices among enrolled Visa Checkout customers,” he said “We are also seeing mobile shopping grow overall on Visa Checkout.
“In the last six months, we’ve seen the traffic split go from 33 percent to 45 percent, showing a significant increase in online shopping on mobile.”
Like this article? Sign up for a free subscription to Mobile Commerce Daily's must-read newsletters. Click here!
leave a response, or trackback from your own site.