Viewpoints

Visa’s Blog – Visa Viewpoints

PERSPECTIVES ON DIGITAL CURRENCY

Sep 19, 2013

V.me

Hotwire and V.me Keep Summer Travel Going

With kids back in school and Labor Day behind us, September is a great time to snatch up last minute travel deals, and Hotwire and V.me by Visa are now making it even easier to buy them. Using V.me, busy travelers can find and book their favorite hotels at deep discounts using Hotwire and checkout with just a few clicks of the mouse.

Travel continues to be one of the most popular categories for eCommerce – 7 of 10 travelers booked their vacation entirely online last year.  And while eCommerce marks its eleventh consecutive quarter of double-digit year-over-year growth, it’s worth noting that according to comScore, 67% of online shopping carts are still abandoned before a purchase is ever completed.

Merchants recognize that simplifying check-out means reducing online cart abandonment, particularly as mCommerce transaction begin to gain in popularity.  Visa is helping #SavetheCart by offering V.me to streamline checkout and remove the hassle of entering bill to, ship to and account information with each purchase, no matter your device.

Learn more about how people are booking their travel today in the infographic below.

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Posted by: Kyrssa Guntrum, Visa Corporate Relations on September 19, 2013 at 9:50 am

Aug 5, 2013

Fandango and Rue La La Help #SaveTheCart

Today’s savvy consumer scouts the web to find beloved brands at affordable prices on sites like Rue La La or to book tickets at a highly-anticipated movie using Fandango. And Visa now adds even more convenience to the checkout process on these sites and several more.

Fandango and Rue La La, as well as VEGAS.com, Crutchfield, Modnique, Sonic Electronix, are the latest to join a growing list of top eCommerce merchants that offer a simpler way to pay with V.me by Visa, Visa’s digital wallet service.

V.me eliminates the need to enter billing, shipping and account information. So, when you’re tucked into bed and realize that deal for a new pair of shoes or tickets for the upcoming Planes movie won’t last until morning, there’s no need to scramble for your wallet. With a V.me account, you can check out with a username and password.

According to comScore, the complexity of checkout contributes to an estimated 67% of online shopping carts that are abandoned before a purchase is completed. Don’t abandon your cart. Visa is encouraging everyone to help #Savethecart this summer. Learn more at www.v.me and happy shopping.

 

Click on the images below to view the #Savethecart Infographics

 

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#Fashion Infographic           . #Movie Infographic

 

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Posted by: Sam Shrauger, Digital for Developed Markets, Visa Inc. on August 5, 2013 at 8:08 am

Dec 20, 2012

Bill Gajda on the Future of Mobile Payments

The widespread adoption of Internet-enabled devices – smart phones, tablets, laptops and PCs – enable consumers to shop online, anywhere, anytime – especially this holiday season. According to IBM, 24% of consumers used a mobile device to visit a retailer’s site over Thanksgiving & Black Friday, up from 14.3% in 2011.

As we shared earlier this week , while Cyber Monday remained the busiest online shopping day of the year – representing an astounding $2.1 billion in online sales from U.S. Visa account holders – Visa’s network has seen seven days that topped more than $1 billion in online sales in the U.S. this holiday season.

In the following video, Bill Gajda, Head of Global Mobile Products for Visa, shares his view on how innovations in mobile and payment technology, including near-field communications, are changing the landscape of commerce this holiday season and into the future. 

 

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Posted by: Jennifer Schulz, Global Head of eCommerce on December 20, 2012 at 1:00 pm

Dec 18, 2012

Perspectives on eCommerce

Earlier today, we shared a look into the growth of U.S. consumer online shopping behavior during the holiday peak season (Nov. 1st – Dec. 16th). It’s no surprise that with the advent of tablets, mobile devices, the growing number of online merchants, and the widening adoption of new payment technologies, eCommerce remains Visa’s fastest growing commerce channel – and we don’t see that changing for a long time to come.

As eCommerce grows, consumers are looking for services that are designed to make online payments simple and secure, without all the hassles of entering bill-to, ship-to, and account information.  Visa understands that, and is helping to usher in this next generation of commerce with a digital wallet service called V.me by Visa.

In the following video, Jim McCarthy, global head of product for Visa, provides his thoughts on how eCommerce has evolved since its inception and the tools Visa is developing to improve the online shopping experience, for everyone.

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Posted by: Jennifer Schulz, Global Head of eCommerce on December 18, 2012 at 11:55 am

Dec 18, 2012

2012: The Year of the Cyber Holiday Season

Today, Visa reported that merchants made more than $50 billion in online sales from U.S. Visa accountholders from November 1 to December 16, 2012, up 16% from the same period in 2011. While Cyber Monday remained the busiest online sales day of the year – representing $2.1 billion in online sales from U.S. Visa accountholders – Visa’s network has seen seven days with more than $1 billion in online sales during the 2012 holiday season, making this what Visa is declaring the first official Cyber Holiday Season.

In fact, merchants have been increasingly benefiting from eCommerce throughout the holiday season for several years, spurred in part by offering free shipping and other deals well before Thanksgiving when consumers shop online. According to IHS Global Insight, overall U.S. holiday sales growth is expected to be 3.9%, with online sales growth at 17%, indicating that merchants’ online sales continue to outpace in-store purchases and represent a growing portion of all holiday sales.

In addition to facilitating eCommerce, our partnerships allow merchants of all sizes to better serve their customers and grow their businesses during the busiest time of the year. We’ve been doing it since the advent of online shopping and, today, more merchants accept Visa for online purchases than any other payment method (Source: comScore, December 2012).

Accepting Visa online enables even the smallest merchants to reach consumers regardless of their location or time zone, and can increase merchants’ sales, efficiency and security.  Additional benefits of acceptance include guaranteed payment, simplified accounting and the ability to take advantage of Visa’s innovative products and services – such as V.me and Visa Offers – which enable merchants to deliver a streamlined online checkout process and use SMS text messages to send tailored promotions to Visa account holders who have opted in, respectively.

Watch the video below to see Visa Chief Economist Wayne Best discuss eCommerce trends for the 2012 holiday season:

 

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Posted by: Jennifer Schulz, Global Head of eCommerce on December 18, 2012 at 6:35 am

Dec 11, 2012

The Mashable Innovation Index 2012 Winner’s Circle

Less than four weeks and more than 22 thousand votes since the Mashable Innovation Index competition kicked off, 15 winners have been crowned for their role in creating life-changing innovations.  Last month 15 handpicked industry experts were chosen to curate 15 innovative categories and nominate five “game-changers.”  Mashable readers were then asked to vote on their favorites, and the winners are being revealed today.

Nominees selected by Sree Sreenivasan, Chief Digital Officer of Columbia University

Nominees selected by Martha Stewart, Entrepreneur

Nominees selected by Lance Ulanoff, Editor-in-Chief of Mashable

Nominees selected by Stacy London, Host of What Not to Wear and Founder, Style for Hire

Nominees selected by Adam Braun, Founder of Pencils of Promise

Nominees selected by Jess Lee, CEO and Co-Founder of Polyvore

Nominees selected by Chris Hughes, Editor-in-Chief of The New Republic

Nominees selected by Lorena Garcia, Chef

Nominees selected by Alexandra Wilkis Wilson, Co-Founder of Gilt Groupe

Nominees selected by Jon M. Chu, Filmmaker and Founder of DS2DIO

Nominees selected by Rafat Ali, Founder of Skift

  • Winner in Travel: High-Tech Airports

Nominees selected by Brett Terpstra, Podcaster and Life Hacker

Nominees selected by Coco Rocha, Model

Nominees selected by Sarah Robb O’Hagan, President, Equinox

 Nominees selected by Jon Dube, GM of CBS Fantasy Sports

V.me by Visa and Mashable recognize 2012 has been an outstanding year for innovation.  These 15 winners are setting new technology trends, creating new products, changing the way people connect and communicate, and reinventing the way consumers shop and merchants do business.

We’re inspired by the level of innovation each winner represents, and we offer our congratulations to all the winners.

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Posted by: Ryan Donovan, Corporate Relations on December 11, 2012 at 1:56 pm

Dec 11, 2012

LivingSocial and Newegg.com are the Latest Merchants Live with V.me by Visa

Whether you’re celebrating the holidays with family, friends, or both, early eCommerce data is showing just how generous people are through the holidays. Consumers are spending more time—and money—online as more people log-on to do their holiday shopping to avoid crowds, save money and simplify the gift buying experience. This year, Visa is making it even easier by adding two more leading online retailers to our growing roster of V.me by Visa merchants and further eliminating the hassles of online shopping. 

Today, visitors to LivingSocial.com and Newegg.com can sign up for V.me, checkout with a few simple clicks, and say goodbye to having to enter their bill-to, ship-to and account information each time they make a purchase online.  For both adventure lovers looking to book New Year’s Eve plans or discover a weekend excursion, or tech-enthusiasts looking for holiday shopping deals or the latest gadget, LivingSocial and Newegg.com are sure to have the perfect gift.

With just two weeks to finish holiday shopping before Christmas, it’s important to be able to buy gifts quickly. V.me allows people to do just that, enabling checkout with just a few clicks of the mouse at any of the leading 25 eCommerce merchants using V.me.  Today’s news builds on the recent launch of V.me, where more than 50 financial institutions participated in the announcement, bringing the addressable base of cardholders to as many as 55 million.

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Posted by: Jennifer Schulz, Global Head of eCommerce on December 11, 2012 at 11:56 am

Nov 21, 2012

‘Tis the Season for Ringing Checkout Registers

It’s the time of year when retailers hope that you’ve made Santa’s “Nice” list, so there are lots of presents under the tree and all stockings are stuffed! So far, early indications suggest that the season will be jolly, keeping Santa and his reindeers’ travel schedules fully booked.

The National Retail Federation predicts holiday shopping will increase 4.1 percent to $586 billion this year. Additionally, this week Adobe predicted online sales on Cyber Monday would top $2 billion this year, representing an 18 percent increase over 2011. Also of note: a prediction that mobile commerce would represent more than one-fifth (21 percent) of all online sales this holiday season.

While Black Friday and Cyber Monday are typically thought of as two of the busiest holiday shopping days of the year, a closer look at our United States-driven eCommerce data may suggest otherwise. We tasked some of our holiday number-crunching elves at Visa to look at debit and credit card purchases over the past 10 holiday seasons and found some interesting trends:

  • Weekend warriors: With a few notable exceptions (Black Friday, Cyber Monday), shopping volumes tend to climb significantly on Saturday and Sunday and drop off during the weekdays. [No matter which day you shop, if you are doing it online, V.me by Visa can help simplify the process.]
  • eCommerce excellence: According to Forrester, shoppers are expected to spend $226 million online this year alone.
  • Shopping strongholds: The Wednesday before Thanksgiving, Black Friday and Cyber Monday are BUSY shopping days—but not the busiest of the year.
  • Procrastination purchasing: Waiting until the last minute to buy gifts means a rush before Christmas. Over the last 10 years, December 22, 23 and 24th have been the busiest shopping days of the holiday season.

Whether past trends hold true this holiday season, or other days emerge as shopping surprises remains to be seen. One thing is for certain: checkout registers – whether online, mobile or in stores – will be busy ringing with the holiday sounds of spending.

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Posted by: Lucas Mast, Visa Corporate Relations on November 21, 2012 at 1:06 pm

Nov 15, 2012

The Economist Delves Into the “War of the Virtual Wallets”

Hailing the recent commercial availability of V.me by Visa as “another milestone on the journey to digital cash” the Economist provides an overview of the major players and landscape in the digital wallet space in “War of the Virtual Wallets“, including perspective from Visa’s global head of eCommerce, Jennifer Schulz.

While noting that the competition in the virtual wallet space is white-hot, the article asserts that Visa is well-positioned as the battle intensifies.  Some Visa-specific statistics noted in the article to support this prediction include:

*More than 2.3 billion Visa cards in circulation

*Over $8 billion in total Visa credit, debit and prepaid transactions processed in 2011

*Significant technology investments and acquisitions in developed markets, including V.me and Square

*Strategic investments in developing and emerging markets, including Monitise and Fundamo (a Visa company)

*Strong relationships with large member banks, including 50+ supporting V.me

Please click here to read the entire article.

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Posted by: Ryan Donovan, Corporate Relations on November 15, 2012 at 1:34 pm

Nov 13, 2012

Wallets: Let’s Get Digital!

Our wallets are getting a makeover just in time for the holidays.  For as many as 55 million addressable cardholders, the transformation comes courtesy of three simple words: V.me by Visa.

At Visa, we’re continuing our momentum in the modern wallet era by giving more people access to V.me.  Since our announcements with U.S. Bank and PNC, Visa has landed new strategic relationship with more than 50 additional financial institutions, meaning tens of millions of customers can make online payments using V.me by Visa.

Historically, we’ve all been unpaid data entry clerks when it comes to online shopping, typing in account, bill-to and ship-to information nearly everywhere we shop online. Beginning today, that’s all about to change. Today’s consumer types in an average of 44 fields when shopping online, and V.me gets you down to 5 or 6 (depending on if you’re sending to yourself or a loved one).

Signing up for V.me through our bank partners and enrolling your Visa (or other U.S. issued payment cards) is simple.  Before you can say “SALE!” you can start shopping online from any PC, tablet or mobile device.

Don’t see your bank on the list of partners Fear not!  Visit www.V.me to enroll online, and start your holiday shopping immediately at any of the 23 participating merchantsPacSun and Blue Nile are just a few of the leading eCommerce sites using V.me, where you’ll enjoy a more simple, secure and personalized checkout experience.

You want to shop—and we want to make it easy for you to pay how you want (although we prefer Visa), when you want (no judging if you’re shopping in your pajamas at midnight) and with the safety and security that comes with the Visa brand.

Stay tuned for even more banks and merchants coming soon, and in the meantime, happy shopping.

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Posted by: Jennifer Schulz, Global Head of eCommerce on November 13, 2012 at 5:08 am