Visa Checkout Eyes Global Expansion, Co-Marketing Programs Through 2016
Omnichannel purchasing is going global as the credit card payments processor looks to compete for mobile consumers.
Visa is continuing to add to its Visa Checkout global merchant line up as the mobile pay service celebrates its first anniversary and attempts to build its presence before the holiday shopping season comes into full view. (Read the release)
In recent months, Visa has signed up roughly 33 new merchants, including Best Buy, Under Armour, Barnes & Noble, and Taco Bell. After years of slow adoption of mobile pay by retailers and consumers, the space got a shot in the arm this past year with Apple Pay’s big push in addition to rising interest in the Internet of Things, which has raised the possibility for extending payments to a range of devices beyond the smartphone.
As one of the globe’s largest credit card payment providers, Visa and rival Mastercard have quickly sought to cement their position with respect to the idea of consumers paying for products and services wherever they are as quickly as possible. The company’s rapidly expanding list of merchants promises to make it easier for consumers to buy everything they need online, on any device, using Visa Checkout.
Mobile Currency Exchange
Looking beyond the US is another major focus for Visa.
As of August 10, 2015, China Merchants Bank and Shanghai Pudong Development Bank are the first two issuers in the world who have launched Visa Checkout’s mobile app online provisioning within their banking apps, providing their customers with an easy way to enroll in Visa Checkout for shopping online at overseas merchants.
“It’s great to see banks like CMB and SPDB bringing best-in-class enrollment experiences to their customers in China who are eager to shop overseas,” said Sam Shrauger, Visa’s SVP for Digital Solutions, in a statement. “As more merchants and issuers 2 integrate Visa Checkout, the number of consumers seeing the benefit of a faster online checkout experience also grows. We’re starting to see the network effect kick-in.”
Co-Marketing On The Agenda
Visa is clearly aware that despite its vast brand reach, it can’t promote its Checkout services alone. One recent co-marketing campaign between Visa Checkout and children’s apparel retailer Gymboree found that 43 percent of customers using the service to make a purchase were new customers to their Gymboree location.
To kick-off its fall promotions, Visa Checkout will partner with The Ellen DeGeneres Show for the season 13 premiere week. Viewers will see Visa Checkout and several merchant partners in and around Ellen’s premiere week, both in Los Angeles and New York City.
Visa Checkout will launch several new global co-marketing campaigns with merchants this fall, ranging from consumer promotions to social media campaigns and sponsorship marketing. Merchants that have previously partnered in successful promotional campaigns include Dunkin’ Donuts, Fandango, Pizza Hut, Williams-Sonoma, among others in the U.S.