Photo courtesy of TaxRebate.org.uk on Flickr

Visa has unveiled a new system for using the card during online checkouts that the company hopes will cut down on abandoned online shopping carts.

The new service, called Visa Checkout, allows people to sign up with Visa credit and debit cards, as well as other branded cards, and enter their card information just once. Then they will be able pay for things via Visa by only entering their username and password at participating sites.

The service is currently being offered in Australia, Canada and the U.S.

As more customers shop on smaller screens like smartphones and tablets, the hassle of entering in credit card numbers and billing addresses is becoming a sticking point and payment processors have been working to find ways to simplify the process.

To read more about this story, click here.