By Staff writer
Electronic payments firm says Visa Checkout to be launched as part of global rollout
Visa, the global electronic payments firm, has announced that the UAE will be one of the 16 countries where consumers will soon be able to use the new Visa Checkout service in the second phase of its global rollout.
Visa Checkout was first launched in July 2014 in the US, Canada and Australia and is a quick and easy payment service to pay for goods online, on any device, in just a few clicks.
Visa said in a statement that the service solves the frustration that many online shoppers face in having to submit large amounts of detail each time to complete a purchase online by providing a quick and simple solution that can be used from any device they are browsing from.
To date over three million Visa Checkout accounts have been created which can be used to shop at over 110 eCommerce retailers, Visa said.
“Visa Checkout has seen tremendous growth in just the few months since it’s been available. Consumers and merchants alike love its simplicity and ease, which is particularly important as people shop and buy more frequently on smaller devices like mobile phones and tablets but still want to use the payment cards they already know and trust,” said Marcello Baricordi, general manager UAE and global accounts lead at Visa Inc MENA.
“The MENA region is seeing an annual growth rate of 30 percent for all online transactions where for $100 spent on a card, $10 is spent online. The UAE also has one of the highest smartphone penetration rates in the world. Because of these conditions, the UAE is a prime candidate for our roll out plans for Visa Checkout and we are working swiftly with our bank and merchant partners to bring this exciting service here by mid-2015,” he added.
Consumers simply store their shipping and payment information in a secure account with Visa once, and they never have to re-enter it again when shopping online at merchants who offer Visa Checkout.
Consumers in newly-enabled markets will first be able to use Visa Checkout to buy from merchants in the US, Australia and Canada that accept Visa Checkout. As the rollout continues this year, select countries will begin to incorporate issuer, merchant, acquirer, and channel partnerships to support local commerce with Visa Checkout.
Visa said it will also launch localised Visa Checkout websites for many of these countries.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
The convenience and ease make this an appealing product, however, we need to understand more about the security of our data and accounts, especially given the increasingly sophisticated hacking that's taking place. Will VISA/their insurance bear responsibility for fraudulent activity? More details, please!
So VISA is now copying PayPal.
No Originality, and nothing new.