Look Out PayPal: Visa Checkout Attacks

Written by Oonagh Reidy     18/07/2014 | 11:55 | Category: INDUSTRY

Checkout: new web payments service lets consumers pay for goods online, on tablets, PC's

Look Out PayPal: Visa Checkout AttacksVisa launch Visa Checkout that lets consumers pay for goods online, on any device. 

'Checkout' is touted as "an easy and secure way to pay online" with Visa debit/credit card but also takes other major payment card payments on a PC, mobile or within an app. The payment system is seamless across all devices.

Once enrolled, shoppers provide their username and password to complete the payment - all within the merchant's website.  
It replaces the V.me introduced in Australia in late 2013, and will rebrand to Checkout in the coming months. 

Event Cinemas is the first merchant in Australia to offer Checkout. 

V.me is used by major e-tailers such as CatchOfTheDay, Cotton On, Escape Travel, Flight Centre, City Beach, JB Hi-Fi Home, DealsDirect.com.au, OO.com.au, Skiddoo, Lorna Jane and Bonds. 

Australian account holders who are currently signed up to V.me will automatically move to the new service today and be able to sign in with their same username and password.

It is a PayPal type service and is likely to compete against eBay's eponymous online payment system.
  
Other merchants accepting Visa Checkout through their eCommerce and mobile sites are scheduled to follow soon, Visa said today. 

"Since we launched V.me by Visa, online and mobile commerce has continued to grow quickly with many businesses placing further emphasis on selling through websites and mobile apps. 

"Our merchant partners have adopted the service and will now rebrand to Visa Checkout which provides the simplicity and consumer experience that people expect from Visa," said Greg Storey, Head of Visa Checkout Visa in Asia Pacific, Europe, Middle East and Africa.

In the US, Neiman Marcus, Pizza Hut, Staples and United Airlines are already signed up. 

A recent study by Visa shows Australians mostly use PC's for online shopping, with desktops making up 90% of online sales. However, mobile shopping is quickly catching up, especially among younger users. 

One in three consumers aged 18-29 had shopped from a mobile while commuting. 

Visa's study, The Future of Payments - Everywhere Commerce found that 92 per cent of Australians have bought products or services online, however more than 1 in 3 have abandoned an online purchase after finding it too difficult to complete.