Visa to boost digital solutions due to massive increase in ecommerce use

Thursday 14 May 2020 14:46 CET | News

US-based global payments technology company Visa has boosted its digital solutions due to millions of users trying ecommerce for the first time.

According to Market Watch, 13 million LATAM-based Visa cardholders made ecommerce transactions for the first time ever, amid the COVID-19 pandemic. Moreover, Visa saw an 18% rise in US ecommerce spending during April 2020, excluding the travel category.

Although Visa’s shares have fallen 15% over the past three months, the company takes new opportunities in improving the ecommerce experience. One of them is regarding a reduction in chargebacks. Therefore, the company developed a special dispute-monitoring program that works with sellers and financial institutions to understand the terms of transactions.

Furthermore, Visa plans to simplify the guest-checkout process, which requires users enter information into 23 fields during the average transaction. Consequently, Visa converted 10,000 merchants from using the Visa Checkout button to a new click-to-pay button that’s being used universally by the credit-card industry to speed up online checkout and validate buyer identities, Market Watch concluded.

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Keywords: Visa, ecommerce, LATAM, US, chargebacks, Visa Checkout, click-to-pay¸ COVID-19
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce

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