Welcome!

News Feed Item

Visa Annual Cardholder Expenditure Exceeds €1trillion on Debit Cards for the First Time in Europe

Annual spend on Visa debit cards across Europe has exceeded €1trillion (€1.02 tn) for the first time. The figure represents an annual increase of 8.8%, reports payments technology company Visa Europe, which today announces its annual results for the year ending 30 September 2012.

Despite the challenging economic climate, total spend by Visa cardholders grew by 8.0% to €1.3 trillion. This was underpinned by a 16% growth in e-commerce, the fastest growing part of the Visa Europe business. Online spending on Visa cards in Europe topped €200 billion (€202bn) for the first time and accounts for more than 20% of Visa Europe’s processed business. €1 in every €6.75 spent in Europe is on a Visa card, a figure that rises to £1 in every £3 in the UK.

Growth was also strong in other core areas of the Visa Europe business, with spending on commercial cards increasing by 17.6% and on prepaid cards by 18.3%.

In the UK, total spend increased by 6.1% to £407bn with spend on debit cards increasing by 7.1% to £360bn. E-commerce grew by 11.5% to £96bn, representing almost a quarter of total spend.

As a membership organisation, Visa Europe operates a high volume, low cost business model that provides services to its members. For the second year running, Visa Europe revenues exceeded €1billion (€1.11bn) and the company achieved a pre-tax surplus of €260 million that will be reinvested into the business and to improve capital and reserves.

Visa Europe has invested over €1billion in its technology and infrastructure over the past six years, building a robust and secure European payments platform from which to deliver the next generation of payment technologies. The company continues to deliver unparalleled payments safety for consumers, merchants and retailers, with its fraud to sales ratio at an all-time low for the second year running (Europe-wide: 0.04%; UK 0.05%).

2013 will see the rollout of V.me by Visa, Visa’s first integrated digital wallet, in the UK, France and Spain. In the UK, banks representing 80% of all consumers are already committed, while by 2020, Visa Europe believes that one-third of all European consumers will be using the V.me wallet.

V.me by Visa allows consumers to complete online transactions with just one click after login through the internet browser on their smart phones, tablets, PCs or laptops, using cards from multiple providers. V.me is exceptionally secure, shielding customers’ card details from online merchants and supported by multiple layers of Visa security technology. The V.me service will continue to evolve to incorporate other Visa payment technologies, including contactless transactions at the point of sale and person-to-person payments.

2013 will also see the continued rollout of contactless payments for card and mobile devices. Contactless transactions in Europe quadrupled in 2012 and Visa Europe expects to repeat this growth in 2013. Across Europe, in 2013, there will be 40 issuers offering mobile contactless payment services to consumers and by the end of 2013 around 80 types of smartphone will be certified by Visa to carry out contactless payments

Peter Ayliffe, Chief Executive, Visa Europe said:

“Visa Europe has performed strongly in the past year despite tough economic conditions, demonstrating the continued resilience of our business.

“Debit, which accounts for almost 80% of Visa card spending in Europe, continues to grow strongly while e-commerce has become the fastest growing part of our business and is set to grow further as the market continues to mature.

“We have benefited from our investment in technology and security, which not only helped us deliver 100% processing availability and record low levels of fraud in 2012, but also enabled us to showcase mobile contactless payments at the London Olympics. This investment also underpins the rollout of new payment technologies in 2013.

“As we continue to see the explosive adoption of mobile devices, our priority in 2013 is to give consumers faster, safer mobile ways to pay.

“The past six years have been about preparing and building the European payments infrastructure to support European commerce and the delivery of new payment technologies. The year ahead will see us putting mobile contactless payments into consumers’ hands, and introducing digital wallets on a mass scale for the first time.

“In the UK, where a quarter of all Visa card spend is online, banks representing the vast majority of UK consumers are lined up to launch V.me in 2013, providing a faster, simpler and safer way to pay online.”

ENDS

NOTES TO EDITORS

About Visa Europe

Visa Europe is a payments technology business owned and operated by member banks and other payment service providers from 36 countries across Europe.

Visa Europe works at the forefront of technology to create the services and infrastructure which enable millions of European consumers, businesses and governments to make electronic payments. It is not a credit card company, almost 80% of its business is on debit cards, and its members are responsible for issuing cards, signing up retailers and deciding cardholder and retailer fees.

Visa Europe operates a high volume, low cost business model that provides services to its members. Its surplus is reinvested into the business and used to improve capital and reserves. In the last six years, Visa Europe has invested over €1 billion in new technology and infrastructure.

Since 2004, Visa Europe has been independent of Visa Inc. and incorporated in the UK, with an exclusive, irrevocable and perpetual licence in Europe. Both companies work in partnership to enable global Visa payments. As a dedicated European payment system Visa Europe is able to respond quickly to the specific market needs of European banks and their customers - cardholders and retailers - and to meet the European Commission’s objective to create a true internal market for payments.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that Twistlock, the leading provider of cloud container security solutions, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Twistlock is the industry's first enterprise security suite for container security. Twistlock's technology addresses risks on the host and within the application of the container, enabling enterprises to consistently enforce security policies, monitor...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus intern...
While some vendors scramble to create and sell you a fancy solution for monitoring your spanking new Amazon Lambdas, hear how you can do it on the cheap using just built-in Java APIs yourself. By exploiting a little-known fact that Lambdas aren’t exactly single threaded, you can effectively identify hot spots in your serverless code. In his session at 20th Cloud Expo, David Martin, Principal Product Owner at CA Technologies, will give a live demonstration and code walkthrough, showing how to ov...
The 21st International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Machine Learning and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding busin...
SYS-CON Events announced today that Enzu will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive ad...
This talk centers around how to automate best practices in a multi-/hybrid-cloud world based on our work with customers like GE, Discovery Communications and Fannie Mae. Today’s enterprises are reaping the benefits of cloud computing, but also discovering many risks and challenges. In the age of DevOps and the decentralization of IT, it’s easy to over-provision resources, forget that instances are running, or unintentionally expose vulnerabilities.
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
Everywhere we turn in our industry we can find strong opinions about the direction, type and nature of cloud’s impact on computing and business. Another word that is used in every context in our industry is “hybrid.” In his session at 20th Cloud Expo, Alvaro Gonzalez, Director of Technical, Partner and Field Marketing at Peak 10, will use a combination of a few conceptual props and some research recently commissioned by Peak 10 to offer a real-world consideration of how the various categories of...
In his opening keynote at 20th Cloud Expo, Michael Maximilien, Research Scientist, Architect, and Engineer at IBM, will motivate why realizing the full potential of the cloud and social data requires artificial intelligence. By mixing Cloud Foundry and the rich set of Watson services, IBM's Bluemix is the best cloud operating system for enterprises today, providing rapid development and deployment of applications that can take advantage of the rich catalog of Watson services to help drive insigh...
When NSA's digital armory was leaked, it was only a matter of time before the code was morphed into a ransom seeking worm. This talk, designed for C-level attendees, demonstrates a Live Hack of a virtual environment to show the ease in which any average user can leverage these tools and infiltrate their network environment. This session will include an overview of the Shadbrokers NSA leak situation.
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
Multiple data types are pouring into IoT deployments. Data is coming in small packages as well as enormous files and data streams of many sizes. Widespread use of mobile devices adds to the total. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the tools and environments that are being put to use in IoT deployments, as well as the team skills a modern enterprise IT shop needs to keep things running, get a handle on all this data, and deli...
As enterprise cloud becomes the norm, businesses and government programs must address compounded regulatory compliance related to data privacy and information protection. The most recent, Controlled Unclassified Information and the EU’s GDPR have board level implications and companies still struggle with demonstrating due diligence. Developers and DevOps leaders, as part of the pre-planning process and the associated supply chain, could benefit from updating their code libraries and design by in...