Visa recently announced Visa Checkout, a new payment option designed to streamline the online purchase process for consumers. The new service replaces V.me, Visa’s previous effort to roll out a mobile wallet. With Visa Checkout, Visa seeks to make paying online easier by introducing a username and password system, which eliminates the consumer’s need to enter their credit card information. The system is similar to one that PayPal has used for years.

Like its predecssor, V.me, and PayPal, Visa Checkout lets customers store both Visa and non-Visa credit cards, much like a traditional mobile wallet. But Visa stresses that Checkout is a virtual credit card, rather than a wallet.

When consumers click the Visa Checkout button at participating merchant sites, they will be prompted for their username and password. After selecting their card, Visa will automatically fill in the payment form with their credit card and shipping information. A thumbnail of their credit card shows up next to the Visa Checkout button to make customers feel as if they are using their Visa card.

Neiman Marcus, Pizza Hut, Staples and United Airlines are some of the newest merchants who are initially offering Visa Checkout. Other online retailers, such as 1-800-FLOWERS(R), Beyond the Rack, Cineplex Entertainment, Jos. A. Bank, Live Nation, lululemon athletica, MovieTickets.com, Newegg, Rakuten.com, Teleflora, Ticketmaster, TigerDirect and Wine Enthusias, have also announced their plans to use the service.

Get $25 off $100 at Staples Using Visa Checkout
In order to encourage early adopters, Visa Checkout is currently offering $25 off your order of $100 or more at Staples when you pay with Visa Checkout. Details on this promotion can be found here.

Update: The $25 off $100 promotion at Staples has expired.