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 Hitrons Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Hitrons Solutions Inc. is distributor in the North American market for unique products and services of small and medium-size businesses, including cloud services and solutions, SEO marketing platforms, and mobile applications.
With the introduction of IoT and Smart Living in every aspect of our lives, one question has become relevant: What are the security implications? To answer this, first we have to look and explore the security models of the technologies that IoT is founded upon. In his session at @ThingsExpo, Nevi Kaja, a Research Engineer at Ford Motor Company, will discuss some of the security challenges of the IoT infrastructure and relate how these aspects impact Smart Living. The material will be delivered i...
For organizations that have amassed large sums of software complexity, taking a microservices approach is the first step toward DevOps and continuous improvement / development. Integrating system-level analysis with microservices makes it easier to change and add functionality to applications at any time without the increase of risk. Before you start big transformation projects or a cloud migration, make sure these changes won’t take down your entire organization.
Historically, some banking activities such as trading have been relying heavily on analytics and cutting edge algorithmic tools. The coming of age of powerful data analytics solutions combined with the development of intelligent algorithms have created new opportunities for financial institutions. In his session at 20th Cloud Expo, Sebastien Meunier, Head of Digital for North America at Chappuis Halder & Co., will discuss how these tools can be leveraged to develop a lasting competitive advanta...
What if you could build a web application that could support true web-scale traffic without having to ever provision or manage a single server? Sounds magical, and it is! In his session at 20th Cloud Expo, Chris Munns, Senior Developer Advocate for Serverless Applications at Amazon Web Services, will show how to build a serverless website that scales automatically using services like AWS Lambda, Amazon API Gateway, and Amazon S3. We will review several frameworks that can help you build serverle...
Your homes and cars can be automated and self-serviced. Why can't your storage? From simply asking questions to analyze and troubleshoot your infrastructure, to provisioning storage with snapshots, recovery and replication, your wildest sci-fi dream has come true. In his session at @DevOpsSummit at 20th Cloud Expo, Dan Florea, Director of Product Management at Tintri, will provide a ChatOps demo where you can talk to your storage and manage it from anywhere, through Slack and similar services ...
VeriStor Systems has announced that CRN has named VeriStor to its 2017 Managed Service Provider (MSP) 500 list in the Elite 150 category. This annual list recognizes North American solution providers with cutting-edge approaches to delivering managed services. Their offerings help companies navigate the complex and ever-changing landscape of IT, improve operational efficiencies, and maximize their return on IT investments. In today’s fast-paced business environments, MSPs play an important role...
SYS-CON Events announced today that CA Technologies has been named “Platinum Sponsor” of 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. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From ...
SYS-CON Events announced today that Cloudistics, an on-premises cloud computing company, has been named “Bronze Sponsor” of 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. Cloudistics delivers a complete public cloud experience with composable on-premises infrastructures to medium and large enterprises. Its software-defined technology natively converges network, storage, compute, virtualization, and management into a ...
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor - all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, 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. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
My team embarked on building a data lake for our sales and marketing data to better understand customer journeys. This required building a hybrid data pipeline to connect our cloud CRM with the new Hadoop Data Lake. One challenge is that IT was not in a position to provide support until we proved value and marketing did not have the experience, so we embarked on the journey ourselves within the product marketing team for our line of business within Progress. In his session at @BigDataExpo, Sum...
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...
SYS-CON Events announced today that Ocean9will 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. Ocean9 provides cloud services for Backup, Disaster Recovery (DRaaS) and instant Innovation, and redefines enterprise infrastructure with its cloud native subscription offerings for mission critical SAP workloads.
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.