Welcome!

News Feed Item

Visa Presents the Future of Commerce with New Innovation Center and Launch of Visa Checkout

New "One Market" location designed to foster collaboration among Visa technologists, clients and a growing global marketplace of payment innovators and developers

TORONTO, ONTARIO -- (Marketwired) -- 07/16/14 -- Visa Inc., the global leader in payments, today announced the opening of One Market, an innovation center and office space at One Market Street in San Francisco. The move provides Visa technologists, its clients, and partners an innovative space to jointly develop the next generation of commerce applications. As a part of the grand opening of One Market today, Visa also announced the launch of Visa Checkout, a quick and easy payment service that enables consumers throughout the United States, Canada and Australia to pay for goods online, on any device, in just a few clicks.

Visa's new One Market office and innovation center will be home to more than 500 Visa employees, including technology experts and developers whose mission will be to ensure that every Internet connected device, appliance or wearable computer, can become a secure place for commerce.

"Realizing our vision to remain the best way to pay and be paid - for everyone, everywhere - requires a commitment to collaborate and foster innovation," said Charlie Scharf, chief executive officer, Visa Inc. "One Market will enable our product developers to directly engage with clients and partners in the tech community, and extend the security and simplicity of Visa payments to billions of connected devices and new consumer applications."

"As a Canadian company with a global footprint, we have valued Visa's commitment to help us develop innovative technologies that are relevant and accessible in any market," said Mitchell Cobrin, founder and chief executive officer of Montreal-based AnywhereCommerce. "We look forward to achieving future technology milestones with Visa's support as more and more consumers adopt mobile payment solutions worldwide."

Visa Checkout: Easier Way to Pay

According to data from comScore, in the first quarter of 2014, 43 per cent of total eCommerce spending in Canada was done with a Visa product(1). Security, ease of use, and loyalty benefits were among the top reasons cited by cardholders when asked why they prefer to use their Visa account when making online purchases(2).

For consumers and online retailers, Visa Checkout offers an easy and secure way to pay online. Enrolling in Visa Checkout is intuitive and simple, and shoppers can use any Visa debit or credit card or even other branded cards to make purchases from a PC, mobile device or within a mobile app. Once enrolled, shoppers simply provide their username and password to complete the payment process -- without ever having to leave the merchant's website.

"Canadians are increasingly shopping online via multiple devices," said Brian Weiner, Vice President, Product and Strategy, Visa Canada. "Visa Checkout provides Canadian consumers a simplified and secure online checkout experience, without their having to continually re-enter payment and billing information, from the Visa brand and an issuer they already know and trust."

The online checkout experience continues to be a consumer pain point with shopping cart abandonment rates as high as 68 per cent(3), according to research firm, eMarketer. In some cases, consumers have to click through multiple screens, filling out detailed information, before completing a purchase. The problem is even more pronounced as devices become smaller with 86 per cent of shoppers never completing their purchases on mobile devices(3).

Strong Merchant Relationships

Cineplex Entertainment, Beyond the Rack, ClearlyContacts.ca, World Vision, and Cymax Canada are some of the top online retailers currently offering Visa Checkout in Canada. Other retailers, including lululemon athletica, Staples Canada, Ticketmaster, United Airlines, Newegg.ca and Tigerdirect, will be unrolling Visa Checkout for quick and easy online payments. Visa Checkout replaces the V.me by Visa service, first introduced in 2012.

"A quick, easy online checkout is part of our commitment to provide guests with an exceptional entertainment experience," said Pat Marshall, Vice President, Communications and Investor Relations, Cineplex Entertainment. "Visa Checkout makes it even easier for movie-goers to skip the box office line and purchase their tickets at Cineplex.com."

Visa Checkout SDK

With the launch of Visa Checkout, a new mobile SDK is also available, allowing developers to quickly build and implement a native in-app checkout experience for iOS and Android-based devices.

The Visa Checkout SDK files and related documentation are available for download from the Visa Developers website at http://developer.visa.com/visacheckout. The Visa Developers program offers tools, technology and support for developers interested in building innovative payment solutions.

Visa Checkout Availability

Starting today, consumers can sign up and use Visa Checkout through a participating merchant or directly at visacheckout.ca.

Editor's Note:

For additional information, please visit http://visatechmatters.tumblr.com

Additional Canadian Retailer Quotes:

Retailers in Canada support the launch of Visa Checkout. The following are quotes by merchants currently using Visa Checkout:

"As an online retailer, our members expect their purchase experience to be quick and effortless," said Richard Cohene, Director of Marketing and Business Development, Beyond the Rack. "Beyond the Rack is thrilled to offer Visa Checkout as a secure payment option to help remove friction at the checkout, especially as we optimize the mobile shopping experience for our customers."

"ClearlyContacts.ca built its brand by offering designer glasses and brand name contact lenses to Canadians who chose the convenience of using online commerce to pay for their purchases," said Braden Hoeppner, Chief Marketing Officer, ClearlyContacts.ca. "Visa Checkout will help to streamline the web and mobile checkout experience for our customers."

About Visa

Visa is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world's most advanced processing networks - VisaNet - that is capable of handling more than 47,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa's innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, ahead of time with prepaid or later with credit products.

(1) Source: Canada eCommerce Market Share, Q1 2014, comScore

(2) Source: Visa Global Research, 2010

( 3 ) Source: Shopping Cart Abandonment, February 2014, eMarketer

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
In this strange new world where more and more power is drawn from business technology, companies are effectively straddling two paths on the road to innovation and transformation into digital enterprises. The first path is the heritage trail – with “legacy” technology forming the background. Here, extant technologies are transformed by core IT teams to provide more API-driven approaches. Legacy systems can restrict companies that are transitioning into digital enterprises. To truly become a lea...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
SYS-CON Events announced today the Enterprise IoT Bootcamp, being held November 1-2, 2016, in conjunction with 19th Cloud Expo | @ThingsExpo at the Santa Clara Convention Center in Santa Clara, CA. Combined with real-world scenarios and use cases, the Enterprise IoT Bootcamp is not just based on presentations but with hands-on demos and detailed walkthroughs. We will introduce you to a variety of real world use cases prototyped using Arduino, Raspberry Pi, BeagleBone, Spark, and Intel Edison. Y...
Just over a week ago I received a long and loud sustained applause for a presentation I delivered at this year’s Cloud Expo in Santa Clara. I was extremely pleased with the turnout and had some very good conversations with many of the attendees. Over the next few days I had many more meaningful conversations and was not only happy with the results but also learned a few new things. Here is everything I learned in those three days distilled into three short points.
What are the new priorities for the connected business? First: businesses need to think differently about the types of connections they will need to make – these span well beyond the traditional app to app into more modern forms of integration including SaaS integrations, mobile integrations, APIs, device integration and Big Data integration. It’s important these are unified together vs. doing them all piecemeal. Second, these types of connections need to be simple to design, adapt and configure...
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
“We're a global managed hosting provider. Our core customer set is a U.S.-based customer that is looking to go global,” explained Adam Rogers, Managing Director at ANEXIA, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Adobe is changing the world though digital experiences. Adobe helps customers develop and deliver high-impact experiences that differentiate brands, build loyalty, and drive revenue across every screen, including smartphones, computers, tablets and TVs. Adobe content solutions are used daily by millions of companies worldwide-from publishers and broadcasters, to enterprises, marketing agencies and household-name brands. Building on its established design leadership, Adobe enables customers not o...
SYS-CON Events announced today that Sheng Liang to Keynote at SYS-CON's 19th Cloud Expo, which will take place on November 1-3, 2016 at the Santa Clara Convention Center in Santa Clara, California.
Ask someone to architect an Internet of Things (IoT) solution and you are guaranteed to see a reference to the cloud. This would lead you to believe that IoT requires the cloud to exist. However, there are many IoT use cases where the cloud is not feasible or desirable. In his session at @ThingsExpo, Dave McCarthy, Director of Products at Bsquare Corporation, will discuss the strategies that exist to extend intelligence directly to IoT devices and sensors, freeing them from the constraints of ...
Technology vendors and analysts are eager to paint a rosy picture of how wonderful IoT is and why your deployment will be great with the use of their products and services. While it is easy to showcase successful IoT solutions, identifying IoT systems that missed the mark or failed can often provide more in the way of key lessons learned. In his session at @ThingsExpo, Peter Vanderminden, Principal Industry Analyst for IoT & Digital Supply Chain to Flatiron Strategies, will focus on how IoT de...
Complete Internet of Things (IoT) embedded device security is not just about the device but involves the entire product’s identity, data and control integrity, and services traversing the cloud. A device can no longer be looked at as an island; it is a part of a system. In fact, given the cross-domain interactions enabled by IoT it could be a part of many systems. Also, depending on where the device is deployed, for example, in the office building versus a factory floor or oil field, security ha...
24Notion is full-service global creative digital marketing, technology and lifestyle agency that combines strategic ideas with customized tactical execution. With a broad understand of the art of traditional marketing, new media, communications and social influence, 24Notion uniquely understands how to connect your brand strategy with the right consumer. 24Notion ranked #12 on Corporate Social Responsibility - Book of List.
Businesses are struggling to manage the information flow and interactions between all of these new devices and things jumping on their network, and the apps and IT systems they control. The data businesses gather is only helpful if they can do something with it. In his session at @ThingsExpo, Chris Witeck, Principal Technology Strategist at Citrix, will discuss how different the impact of IoT will be for large businesses, expanding how IoT will allow large organizations to make their legacy ap...
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...