Visa’s latest study, the “Checkout Friction Report,” has provided valuable insights into the challenges faced by consumers during the online checkout process. According to the study, 70 percent of consumers would shop online more frequently and be more likely to complete their purchases with a one-click checkout option.

Consumer Preferences and Expectations

When it comes to ecommerce, consumers expect a seamless and secure checkout experience. A recent survey conducted by Visa found that:

• 70 percent of consumers would shop online more frequently and be more likely to complete their purchases with a one-click checkout option.
• Nearly two-thirds of those surveyed (66 percent) show a high likelihood of using “Click to Pay with Biometrics” if offered by online retailers.
• 64 percent of respondents support a single registration for online payments across all participating merchants.
• 60 percent of those surveyed say they trust biometric authentication (fingerprint or face biometrics) more than traditional payment methods (passwords or OTP).

Common Pain Points During the Checkout Process

The study also found that the biggest frustrations with ecommerce checkouts are:

1. Security concerns (48 percent)
2. The hassle of entering card details manually (42 percent)
3. Technical issues (24 percent)
4. Long checkout times (22 percent)

Visa’s Solution to Overcome Checkout Friction

Visa is working with partners to enable solutions like Click to Pay, which leverages biometrics and tokenization to eliminate key pain points and deliver a more convenient shopping experience.

“Today’s consumers expect – and deserve – a more seamless and secure checkout experience,” comments Ali Bailoun, Visa’s regional general manager for KSA, Oman and Bahrain.

Benefits of Click to Pay

According to Visa’s research, Click to Pay has several benefits:

• Eliminates the need for manual input of card details
• Uses biometric authentication available on the consumer’s device
• Does not transfer any biometric data to the vendor
• Delivers a more convenient shopping experience

Implementation and Future Plans

Visa recently launched Click to Pay in Hong Kong with 11 more markets to follow as it also rolls out Visa Payment Passkey globally.

Visa is committed to providing a seamless and secure online payment experience for consumers.