Visa plans to extend its online payments service, Visa Checkout, to 13 more countries this year -bringing the total number to 16.
Checkout allows users to store their credit card details into a type of cloud wallet and then pay at merchant’s websites and in their mobile apps by entering just a user name and password. It was introduced last summer as a successor to the more sophisticated – but also more complicated to use – V.me digital wallet.
After seven months of testing Checkout in the US, Canada and Australia, Visa is rolling out the service to Argentina, Brazil, Chile, China, Colombia, Hong Kong, Peru, Malaysia, Mexico, New Zealand, Singapore, South Africa and the United Arab Emirates in the coming months.
In the US, Checkout has already signed up 3m users and the majority of them have used the service several times.
Visa now plans to roll out Checkout first to international retailers that already have a cross-border presence, said Sam Shrauger, its senior vice president of digital solutions at Visa.
For instance, in China, wealthier consumers are buying luxury goods from the US, so luxury stores such as Neiman Marcus could benefit from having a Visa button appear on their overseas websites overseas. Visa will aim for similar deals with big retail brands in each of the respective countries, Shrauger said.
Despite being behind the likes of Europe and China, the US payments industry is now rapidly advancing, said Anish Kapoor, CEO of AccessPay told GTNews in an exclusive interview.
Treasurers are more interested in cross-border payments and automation than real-time payments, as they are consistently asked to do more with less, argues Rick Burke, head of corporate payments at TD Bank in an exclusive interview.
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