The beginning of June 2017, it was announced that Visa Checkout had launched in the U.K. The first U.K. merchant to get on board with Visa Inc.’s new secure payment method was travel company lastminute.com. Fast forward to the beginning of 2018, Visa proudly announced on Jan. 31 that Visa Checkout hit a milestone, securing 1 million customer accounts.
Essentially, Visa Checkout allows consumers to securely store shipping and payment details. No need to re-enter information every time the consumer shops online. Customers can easily enter a username and password that is consistent across all merchants (those offering Visa Checkout). First launched in 2014, Visa Checkout has expanded into 23 countries and has 20 million registered users worldwide.
Delighted with the launch and lastminute.com’s decision to choose Visa Checkout, Kevin Jenkins, managing director of Visa U.K. & Ireland, said, “We are actively working with leading retailers to bring the benefits of faster and more secure checkouts to online shoppers in the U.K.”
Now, the U.K. is among the fastest-growing markets for Visa Checkout. So quickly that many merchants are seeing a third of their payment volumes coming through Visa Checkout. Research commissioned by Visa discovered that, of these online sales, takeaway food is a rapidly growing sector. More than half of British consumers ordered food online, with Millennials leading the way (85 percent have ordered food delivery).
Online Payment Processing for the “High-Risk” Merchant
Unfortunately, not every merchant can easily secure payment processing solutions for online sales. Many industries and business types are categorized as high-risk by traditional processors for one reason or another. A few of the most common include: high chargeback rates, heavy regulation, high volume sales, bad credit issues and limited time in business.
To take advantage of booming online sales, many merchants turn to a high-risk provider. These alternative processors have years of experience in offering solutions to merchants that struggle to find services elsewhere. As high-risk specialists, they offer flexible funding options, secure payment processing and chargeback protection programs. In most cases, the merchant account and business funding can be secured in as little as 24 hours.
If your ecommerce business needs secure payment processing solutions, quick business funding and chargeback protection, consider contacting a high-risk provider. If you are unsure of where to start or which provider is right for your business, checkout the helpful information on the cheapest merchant services UK via Best Payment Providers.