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Visa Checkout: The Right Choice for Online RetailersMarch 2015

Visa Checkout The Right Choice ReportClient: Visa Merchants New Control Chicago

Highlights A new report from comScore shows clear advantages to online retailers using Visa Checkout to simplify their checkout experience. The results of the report are highlighted below.

1

1 UPS Pulse of the Online Shopper, June 2014, U.S. Study.2 eMarketer, Shopping Cart Abandonment: How Retailers Are Using the Metric to Drive Better Results, February 2014.

Detailed Results

Changing Cross-Channel Dynamics and the Checkout OpportunityConsumer retail spend has moved increasingly from in-store to digital, with more than 1 in 10 of U.S. retail discretionary dollars being spent online. As the growth of online and mobile shopping continues to rise, so do customer expectations for better shopping experiences. Customers want a way to save purchasing preferences and be able to use options beyond traditional checkout (which often requires filling in numerous form fields).1 Historical desktop abandonment rates have remained around 70%, and these already high abandonment rates are even more elevated for mobile (86% on smartphones and 77% on tablets), driven by the challenge of filling out form fields on smaller screens.2 Clearly, online retailers have more work to do to get customers through the purchase process and offering the right checkout solution becomes even more critical.

69% conversion rate for enrolled Visa Checkout customers66%

higher conversion rate for enrolled Visa Checkout customers compared to traditional checkout customers

26%higher online engagement among Visa Checkout customers compared to total customers

+17 percentage points lift in conversion rate for enrolled Visa Checkout customers compared to PayPal Express Checkout customers

7%higher average transaction size for Visa Checkout orders than non-Visa Checkout orders among retail and travel sites studied

22%faster when using Visa Checkout for purchase compared to traditional checkout

12%more transactions completed among Visa Checkout customers across all eCommerce sites regardless of checkout option used


1. Fast and Easy CheckoutShoppers today expect a streamlined checkout free of the traditional roadblocks. Visa Checkout greatly simplifies the process for customers, offering a single sign-in to complete their transaction. Sign-in becomes even easier when customers choose the remember me feature the username will automatically be displayed, requiring only a password (as shown above). With just a few clicks, the customer confirms card and shipping information and proceeds to confirm their purchase.

2. Seamless Experience Keeping shoppers in the checkout flow as opposed to sending them to a different site to pay is critical for boosting conversion. Visa Checkout allows the customer to stay on the merchants web page, which helps provide reassurance that their transaction is secure throughout the transaction. New Visa Checkout customers can even create a Visa Checkout account as part of the purchase process. Plus, Visa Checkout fits into the merchants current checkout flow without requiring changes to existing processes.

3. Checkout Option from a Trusted Brand Incorporating Visa Checkout into the purchase flow allows online retailers to benefit from Visas brand name to build customers trust and drive conversion. Visa ranks significantly higher than other payment brands in terms of perceptions of trust and security,3 both of which are of utmost importance for payments and online shopping. This reputation for trust and security ties closely with customers choice for payment. Visa is the largest payment type (in total spend) used among customers online, representing 45.3% of U.S. eCommerce dollars and 46.4% of transactions.4 Given the strength of the Visa brand, online retailers can feel confident that Visa Checkout will signal a familiar experience to customers.

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3 Visa Brand Valuation Assessment, Q1 2015.4 comScore Custom eCommerce Measurement, Q4 2014.

Visa Checkout Helps Build a Successful Checkout ExperienceVisa Checkout is an online checkout service from Visa that allows customers to make purchases quickly and easily from their smartphone, tablet, laptop, or PC. Visa Checkout enables customers to store their card and address information in a secure account, so that they only need to enter a username and password at checkout. With Visa Checkout, customers can securely store and use all major credit and debit card brands.

There are three core components of a successful checkout experience: fast and easy checkout, seamless experience, and a checkout option from a trusted brand. Integrating Visa Checkout into the purchase flow lets online retailers bring all three components into the checkout process, helping drive conversion and saving customers valuable time.


Visa Checkout PerformanceVisa Checkout has proven successful in !ve metrics that online retailers continually strive to optimize:

Increasing merchant checkout conversion rates

Speeding up checkout time

Driving higher average transaction size

Increasing transaction volume

Creating repeat customers

Results among enrolled Visa Checkout customers were especially strong in these areas, reaffirming the value proposition to customers of a single sign-in.

1. Increasing Merchant Checkout Conversion RatescomScore measured conversion rates based on customers that started from the merchants shopping cart and subsequently completed their purchases. The conversion rate for enrolled Visa Checkout customers proved to be better than those for customers of either PayPal Express Checkout or traditional checkout.

A conversion rate of 69% for enrolled Visa Checkout customers was the highest among all groups in the study, outperforming both PayPal Express Checkout (62%) and traditional checkout (41%). In other words, enrolled Visa Checkout customers were 66% more likely to complete a transaction compared to customers using a merchants traditional checkout path.5

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5 Note: Percentage comparisons presented throughout this document may not recalculate exactly due to rounding. Percentage comparisons are calculated based on unrounded numbers, not the rounded numbers shown in this document.

Customers by Checkout Path Cart Conversion Rate Index to Traditional Checkout

Enrolled Visa Checkout Customers

PayPal Express Checkout Customers

Traditional Checkout Customers

166149100

69% 62%41%

2. Speeding Up Checkout TimeReducing the amount of time for a customer to complete their purchase is an integral part of providing a positive checkout experience. In this study, time was measured beginning when customers chose a checkout option from the shopping cart and ending at purchase confirmation. The results show that enrolled Visa Checkout customers were 22% faster (at 3.2 minutes) completing a transaction compared to traditional checkout customers (at 4.1 minutes).

3. Driving Higher Average Transaction Size Average transaction size is a metric that many online retailers strive to increase as a way to drive revenue growth. Even a slight increase in average transaction size can add up to a significant boost to overall sales. Online retailers should examine every possible way to grow average transaction size, and checkout options can have an impact. Results showed that the average transaction size for Visa Checkout orders was 7% higher than for non-Visa Checkout orders among retail and travel sites studied.

(continued)


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4. Increasing Transaction Volume For an online retailer, coupling greater volume of transactions with higher average transaction size is a clear formula for increasing revenue. To that end, many online retailers should look for opportunities to increase transaction frequency among their new and existing customer base and to engage those who tend to shop more frequently. Visa Checkout customers on average completed 12% more transactions overall across retail and travel-related eCommerce sites studied regardless of checkout option used, making this target a lucrative one for merchants.

5. Creating Repeat Customers Online retailers strive to create satisfied customers who will return to their site for more purchases. And results show that Visa Checkout customers are doing just that: 9 out of 10 Visa Checkout customers say they are likely to continue using Visa Checkout,6 and there has been a 16x growth in repeat Visa Checkout customers since the launch of the service.7 The implication for online retailers is powerful: offering Visa Checkout can help drive repeat customers.

Visa Checkout Customer Satisfaction From ease of use to ultimate satisfaction, the research findings are compelling.6

6 Millward Brown Visa Checkout Customer Experience study, March 2015 (n=1241); commissioned by Visa. 7 Visa Checkout data, August-December 2014.

Visa Checkout Customers Are Engaged Shoppers: A Profile of Their Online Consumption and Buying BehaviorIn addition to driving strong conversion, Visa Checkout attracts valuable online customers, as they over-index in time spent online and, most importantly, demonstrate strong engagement with content categories that are retail-centric and/or lifestyle-oriented.

Demographics Compared to the total online population, online customers overall are 8% more likely to be women. Compared to the overall online customer population, Visa Checkout customers are 17% more likely to be women. In addition, Visa Checkout customers span most income levels and ethnicities, making these customers well positioned to shop online across a range of categories. For online retailers, the opportunity to embrace all of these potential customers is compelling.

(continued)

95%of Visa Checkout customers say sign-up was easy

9 out of10Visa Checkout customers are satis!ed with their experience with Visa Checkout

96%of customers feel secure using Visa Checkout


Shopping/Lifestyle-Focused Consumers In online usage, Visa Checkout customers spend a disproportionately higher amount of time on eCommerce-related activities and lifestyle categories. Visa Checkout customers were on average 69% more likely to visit any one of the top 10 retail sites (by volume of unique visitors) in December 2014 compared to the average online customer, and they visit at least 18% more pages on average than total online customers.

Visa Checkout customer engagement is particularly strong among retail and travel-oriented sites, as shown below, which represent some of the largest verticals within eCommerce.

Pages viewed per customer:

Lift for Visa Checkout customers compared to total customers

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Time spent online Visa Checkout customers spent an average of 46 hours online viewing more than 4,000 pages of content (4,372) in December 2014, demonstrating a passion for information. Relative to the average online customer, Visa Checkout customers are much more engaged across the internet spending 20% more time and consuming 26% more content during the month of December 2014. These consumption and traffic patterns serve as an important first step in the shopping journey.

+68%FOOD

+93%HOTEL/RESORTS

+20%HEALTH

+84%TECHNOLOGY

+37%APPAREL

+93%JEWELRY,

LUXURY GOODS, ACCESSORIES

+45%RETAIL

+38%FAMILY & PARENTING

+42%SOCIAL MEDIA

Engagement: Pages per Customer

Visa Checkout Customers: 4,372 pages

Total Online Customers: 3,466 pages +26% 26% Difference Visa Checkout Customers/Total Online Customers

Duration: Hours per Customer

Visa Checkout Customers: 46 hours

Total Online Customers: 38 hours +20% 20% Difference Visa Checkout Customers/Total Online Customers


ConclusioncomScores research shows that Visa Checkout offers multiple benefits to online retailers that impact their bottom line. Not only do enrolled Visa Checkout customers convert at a greater rate than online customers using PayPal Express Checkout or traditional checkout, they also have higher average transaction size and larger transaction volume compared to overall online customers, and they are likely to return to a Visa Checkout merchants site for future purchases. Plus, Visa Checkout customers spend more time on retail sites and are more likely to shop online compared to online customers overall.

With the conversion rate for enrolled Visa Checkout customers already exceeding the conversion rates for PayPal Express Checkout and traditional checkout coupled with the proven value of the Visa Checkout customer the time is now to implement Visa Checkout.

To learn more about how Visa Checkout can benefit your business, visit: www.visacheckout.com/business

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comScores Online Purchase Conversion Research Methodology and ObjectivesVisa and its retail partners have a mutual goal of building merchant business. Following the introduction of Visa Checkout, Visa wanted to better understand Visa Checkout customers and how the checkout service can benefit online retailers. Specifically, Visa wanted to look at completed transactions (conversions) and the average time customers spent (duration) to complete the checkout flow across the customer population.

To accomplish this, Visa sought the help of comScore, a neutral third party, which used its behavioral panel of 1 million PC/laptop users in the United States to analyze these areas. comScore measured the panels general online internet consumption, demographics, and purchase behavior, with a primary goal of identifying if, and to what extent, Visa Checkout improves conversion for online retailers offering the service.

comScore identified 15 online retailers across shopping and lifestyle verticals to measure checkout conversion and duration for Visa Checkout, PayPal Express Checkout, and traditional checkout, and to provide a behavioral comparison of the customers using these checkout options. Customer behavior for this comprehensive test was measured during the period of August-December 2014, covering purchase activity during the holiday shopping season.

Other Method

Visa Checkout

PayPal Mark

Begin Checkout

Complete Purchase

Complete Purchase

Complete Purchase

Complete Purchase

Complete Purchase

MerchantCheckout

PayPal ExpressCheckout

Visa Checkout

ACart

Buyer Conversion = B/A

BBuyers

APayment Page


Making the Right Choice for CheckoutWith eCommerce growing at four times the rate of traditional commerce, its critical that paying online is as easy as shopping in a brick-and-mortar store. A fast and easy online checkout experience is key to getting customers from shopping cart to purchase. A new comScore study shows that Visa Checkout is more e!ective than PayPal Express Checkout and traditional checkout in converting shoppers into buyers.

Did You Know That...?Visa Checkout conversion rates from the merchant shopping cart are higher than those for either PayPal Express Checkout or traditional checkout.1

Visa Checkout enrolled customers completed 69% of transactions from the shopping cart.1

The difference is clear: Visa Checkout enrolled customers achieve 17 percentage points higher lift in conversion rate compared to PayPal Express Checkout customers.1

PayPal Express Checkout customers have a 49% higher conversion rate when compared to traditional checkout customers.1

VISA CHECKOUT conversion

TRADITIONAL CHECKOUT conversion

PAYPAL EXPRESS CHECKOUT conversion

Visa Checkout enrolled customers have a 66% higher conversion rate when compared to traditional checkout customers.1

Single Sign-in Faster Checkout

Customers enter card and address information one time when creating a Visa Checkout account. Once the account has been created, a customer simply enters her username and password. Its just a few clicks and shes done!

FASTER

Visa Checkout enrolled customers completed transactions from the shopping cart page 22% faster than did customers using a merchants traditional checkout process.1

95% say sign-up was easy2

and Visa Checkout customers want to return for more shopping

Nine out of ten are satisfied with their experience and say they are likely to continue using Visa Checkout2

96% feel secure making a purchase

with Visa Checkout2

The average transaction size for Visa Checkout orders is 7% higher than non-Visa Checkout orders among retail and travel sites studied.1

PASSWORD

USERNAME

CONFIRMED

Visa Checkout helps consumers speed through checkout faster

Visa Checkout provides an easy and secure purchase experience for customers ...

Sources1 comScore 2015 Visa Checkout Study, commissioned by Visa. Based on data from the comScore research panel of one million U.S. PC/laptop users, August-December 2014.2 Millward Brown Visa Checkout Customer Experience, March, 2015; commissioned by Visa. Based on data from an online survey of 1,241 U.S. consumers.

The Demographics1

Skew toward women, aged 25 44, with two children in the household

Consumers with a diverse range of incomes

Represent a wide range of ethnicities and geographies

Visa Checkout customers spent 46 hours online and viewed more than 4,000 pages of content in December 2014,1 expressing a passion for information.

Difference in comparison tototal customers

pages visited per customer1

VISA CHECKOUT customers: 4,372 pages

TOTAL customers: 3,466 pages


Compared to overall customers, Visa Checkout customers have significantly more page views on average at shopping-related sites.

hours per customer1

VISA CHECKOUT customers: 46 hours

TOTAL customers: 38 hours

Pages/visitor lift for Visa Checkout customers compared to total customers1

+68% FOOD

+20% HEALTH

+38% FAMILY & PARENTING

+51% JEWELRY, LUXURY GOODS, ACCESSORIES

+42% SOCIAL MEDIA

+11%DEPARTMENT STORES

+37%APPAREL

+84%TECHNOLOGY

+93%HOTEL/RESORTS

+45% RETAIL

Visa Checkout customers are highly active in visiting online shopping sites.

Visa Checkout customers are highly active online and are likely to shop

Did You Know That...?Visa Checkout customers spend more time online and consume more content, compared to total online customers.1

35.5 Bleed

35 Trim

89.5 Bleed

83.25 Trim

6 Bleed

Visa Checkout Conference BannerClient: Visa Merchants New Control Chicago


Making the Right Choice for CheckoutWith eCommerce growing at four times the rate of traditional commerce, its critical that paying online is as easy as shopping in a brick-and-mortar store. A fast and easy online checkout experience is key to getting customers from shopping cart to purchase. A new comScore study shows that Visa Checkout is more effective than PayPal Express Checkout and traditional checkout in converting shoppers into buyers.

Did You Know That...?Visa Checkout conversion rates from the merchant shopping cart are higher than those for either PayPal Express Checkout or traditional checkout.1

Visa Checkout enrolled customers completed 69% of transactions from the shopping cart.1

The difference is clear: Visa Checkout enrolled customers achieve 17 percentage points higher lift in conversion rate compared to PayPal Express Checkout customers.1

PayPal Express Checkout customers have a 49% higher conversion rate when compared to traditional checkout customers.1

VISA CHECKOUT conversion

TRADITIONAL CHECKOUT conversion

PAYPAL EXPRESS CHECKOUT conversion

Visa Checkout enrolled customers have a 66% higher conversion rate when compared to traditional checkout customers.1


Single Sign-in Faster Checkout

Customers enter card and address information one time when creating a Visa Checkout account. Once the account has been created, a customer simply enters her username and password. Its just a few clicks and shes done!

FASTER

Visa Checkout enrolled customers completed transactions from the shopping cart page 22% faster than did customers using a merchants traditional checkout process.1

95% say sign-up was easy2

and Visa Checkout customers want to return for more shopping

Nine out of ten are satisfied with their experience and say they are likely to continue using Visa Checkout2

96% feel secure making a purchase

with Visa Checkout2

The average transaction size for Visa Checkout orders is 7% higher than non-Visa Checkout orders among retail and travel sites studied.1

PASSWORD

USERNAME

CONFIRMED

Visa Checkout helps consumers speed through checkout faster

Visa Checkout provides an easy and secure purchase experience for customers . . .

Visa Checkout Infographic FlyerClient: Visa Merchants New Control Chicago

Sources1comScore 2015 Visa Checkout Study, commissioned by Visa. Based on data from the comScore research panel of one million U.S. PC/laptop users, August-December 2014.

Did You Know That...?Visa Checkout customers spend more time online and consume more content, compared to total online customers.1

The Demographics1

Skew toward women, aged 25 44, with two children in the household

Consumers with a diverse range of incomes

Represent a wide range of ethnicities and geographies

Visa Checkout customers spent 46 hours online and viewed more than 4,000 pages of content in December 2014,1 expressing a passion for information.


pages visited per customer1

VISA CHECKOUT customers: 4,372 pages

TOTAL customers: 3,466 pages


Compared to overall customers, Visa Checkout customers have significantly more page views on average at shopping-related sites.

hours per customer1

VISA CHECKOUT customers: 46 hours

TOTAL customers: 38 hours

Pages/visitor lift for Visa Checkout customers compared to total customers1

+68% FOOD

+20% HEALTH

+38% FAMILY & PARENTING

+51% JEWELRY, LUXURY

GOODS, ACCESSORIES

+42% SOCIAL MEDIA

+11%DEPARTMENT STORES

+37%APPAREL

+84%TECHNOLOGY

+93%HOTEL/RESORTS

+45% RETAIL

Visa Checkout customers are highly active in visiting online shopping sites.

Visa Checkout customers are highly active online and are likely to shop

Visa Checkout Infographic FlyerClient: Visa Merchants New Control Chicago

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