Click'n'buy: rushed Hongkongers can make online purchases faster as Visa Checkout comes to town

Financial services company introduces faster way for people in city to pay for web-based transactions that is as easy as swiping a card at a merchant’s store

PUBLISHED : Tuesday, 01 December, 2015, 5:22pm
UPDATED : Wednesday, 02 December, 2015, 4:03pm

Financial services company Visa has introduced a new way for people in Hong Kong to pay for online purchases that is as easy as swiping a credit card at a merchant’s store.

Visa Checkout, which was initially launched in the United States, Canada and Australia last year, is a digital payment service designed to make more people comfortable with conducting mobile e-commerce transactions on their smartphone or tablet.

Caroline Ada, Visa’s country manager for Hong Kong and Macau, said on Monday that consumers registered on Checkout simply enter their user name and password, rather than a 16-digit credit card number and expiry date at every transaction.

“Consumers not only can pay in just a few clicks, they can also enjoy peace of mind using one of the most secure online payment services in the world,” Ada said.

Visa Checkout is now accepted at a variety of online merchants in Hong Kong , including Broadway Circuit cinemas, shopping site DimBuy, Hong Kong Airlines, supermarket chain ParknShop and online travel agent Zuji.

“Our valued customers deserve a simple way to purchase groceries and daily necessities online,” Rex Wong, ParknShop’s head of e-commerce said.

“Visa Checkout expedites online payment for extremely busy Hong Kong people.”

According to Visa, Checkout is a digital representation of a user's credit card and not a mobile wallet that is set up separately in a device for e-commerce transactions.

Consumers enrolled with Visa Checkout completed transactions from the shopping cart page 22 per cent faster that customers using a traditional checkout process, according to a comScore survey of 1 million US consumers from August to December last year.

READ MORE: Apple launching mobile payment, digital wallet service in Hong Kong and Singapore in 2016

Rival global payments technology provider MasterCard launched its MasterPass digital wallet platform in Hong Kong in July this year, ahead of Visa’s Checkout.

With MasterPass, consumers can securely store their MasterCard and other branded card information

in one place, along with shipping and billing address.

MasterCard partnered with Bank of East Asia, China Construction Bank (Asia), Dah Sing Bank and DBS Bank to launch branded MasterPass digital wallets.

In the Asia-Pacific region, Visa Checkout is also available in mainland China, Malaysia, New Zealand and Singapore.

China Merchants Bank in March became the first financial institution on the mainland to offer Checkout to its customers.

“Since its launch last year, more than seven million users around the world have signed up for Visa Checkout accounts,” Ada said.

She added that more than 250,000 large and small merchants, as well as 470 financial institutions are partners for the service.