Visa Checkout is opening its platform to partners – allowing them to integrate the easy and secure payment service into digital wallets for online payments. Google’s Android Pay will take advantage of this new open platform by offering Visa Checkout to their consumers for online purchases.
Issuers, digital wallets and payment app providers will have access to a streamlined set of APIs to easily integrate with the Visa Checkout open platform and immediately begin to offer payments to their customers shopping on their mobile devices. For example, an online shopper who uses Android Pay or another digital wallet that participates – from issuers or other third parties – would simply click the Visa Checkout button on a merchant’s checkout page and select their existing authentication method, like fingerprint recognition for Android Pay, to complete a purchase.
Visa Checkout’s open platform gives issuers, wallet providers, merchants and consumers a broad range of benefits:
• Issuers and digital wallet providers who utilize the Visa Checkout open platform will be able to extend their payment capabilities to online payments – ensuring their customers can pay everywhere Visa Checkout is accepted, on any device and in apps. Once linked, online banking customers and bank mobile app users will be able to use their banking username and password to access their Visa Checkout accounts.
• Merchants who integrate with the Visa Checkout open platform will have access to the 3-D Secure 2.0 specification and EMVCo Token Service (VTS) standard.
• Merchants who have already integrated or plan to integrate Visa Checkout will have access to digital wallets, such as Android Pay – giving them the ability to offer new online and in-app payment services to the potentially millions of consumers who already use digital wallets on the web. In doing so, consumers can choose their favorite way to pay easily and securely online.
• Visa Checkout’s integration with Android Pay offers consumers a consistent, secure and simple payment solution both in-store and online. Similar to shopping and paying in a physical store, consumers using Android Pay will see Visa’s acceptance mark – reinforcing the security, easy-of-use and wide acceptance consumers have come to expect from Visa.
• Visa Checkout was designed specifically for online and mobile shopping and has been shown to increase conversion and sales for merchants.
Merchants who integrate Visa Checkout open platform will have access to the 3-D Secure specification and EMVCo Token Service (VTS) standard. VTS is a security technology that replaces cardholder information, such as account numbers and expiration dates, with a unique digital identifier (a “token”) that can be used for payment without exposing a cardholder’s more sensitive account information. Tokenization hides consumers’ confidential account information during digital transactions, making digital payments more secure for everyone, everywhere.
Issuers, digital wallets and payment app providers can access Visa Checkout open platform in the first half of 2017.
Visa Checkout now has more than 15 million consumer accounts. Hundreds of thousands of merchants and more than 1,400 financial institution partners now offer Visa Checkout in 16 countries around the world; expansion into five additional European countries and India will take place by the end of 2016.
Visa Checkout merchants represent some of the world’s biggest retailers including Best Buy, Fandango, Gap, Neiman Marcus, Pizza Hut, Staples, Starbucks, Rakuten, Under Armour, Virgin America, Williams-Sonoma and zulily.
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