After seven months of testing Visa Checkout in the U.S., Canada and Australia, the financial giant has decided to bring the online payments service to 13 additional countries in 2015. Checkout allows you store your credit card details into a kind of cloud wallet and then pay at merchant’s websites and in their mobile apps by entering just a user name and password.
In the coming months [company]Visa[/company] said it would bring Checkout to Argentina, Brazil, Chile, China, Colombia, Hong Kong, Peru, Malaysia, Mexico, New Zealand, Singapore, South Africa and United Arab Emirates, bringing the grand total to 16 countries across the globe.
Checkout replaced Visa’s more sophisticated, but also more complicated to use, V.me digital wallet last summer. Though [company]MasterCard[/company] and Visa run competing online payments networks, MasterPass and Visa Checkout actually support each other’s credit and debit cards as well as [company]American Express[/company] and [company]Discover[/company]. Checkout also competes with PayPal, though Visa appears solely focused on large retail brands rather than smaller merchants. That said, The Checkout button is hardly universal on shopping sites today, but Visa has had success in landing some big names like [company]Staples[/company], [company]Pizza Hut[/company] and [company]The Gap[/company].
Visa plans to roll out Checkout first to international retailers that already have a cross-border presence, said Sam Shrauger, senior vice president of Digital Solutions at Visa. For instance, in China, many of the wealthier set are buying luxury goods from the U.S., so high-end Checkout partners [company]Neiman Marcus[/company] could benefit from having a Visa button appear on their websites overseas, Shrauger said. After that, Visa will start going after the big retail brands in each of the respective countries, Shrauger said.
In the U.S., Shrauger said, Visa has already signed up 3 million users for the payments service, and the majority of those users have used Checkout multiple times.
This post was updated on Thursday to clarify how Visa Checkout partners like Neiman Marcus would benefit from the international expansion.