|By Business Wire||
|January 22, 2014 03:30 AM EST||
UK consumers’ preference for electronic payments continued to increase in 2013 as Visa Europe announces that spending with UK Visa credit, debit, commercial and prepaid cards increased by 9.2% to £445bn. This is according to Visa Europe’s annual results for the year to 30th September 2013, which are announced today.
Spending by UK cardholders with Visa debit increased by 9.3% on the previous year. Debit payments account for over 80% of Visa Europe’s business in the UK. More than £1 in every £3 spent in the UK is now spent using Visa.
Growth was also strong in other core areas of the Visa Europe business, with spending on commercial cards increasing by 18.1% and on prepaid cards by 42.8%.
Continued uptake of new payments technologies
The UK’s partiality for online purchases was unabated in 2013 with £110bn spent at UK merchants in the year to September 2013, which equates to £3,488 being spent every second with a Visa card. This is an increase of 18% on the previous year at UK merchants. Over 25% of Visa Europe’s UK business now takes place online.
The well received launch of Visa Europe’s digital wallet, V.me by Visa, in 2013 is testament to the increasing demand from consumers, retailers and banks for safer, more convenient ways to pay online. To date, 4,000 UK retailers have signed up to offer V.me by Visa which is already available from the Nationwide Building Society with more banks due to launch in early 2014.
2013 was an exceptional year for the roll-out and take up of contactless payments with Visa Europe exceeding its targets in the UK for the distribution of contactless cards and the installation of terminals. Some 30.3 million cards are now in circulation with 293,600 terminals installed. Access to the payment infrastructure and education about contactless meant that usage soared resulting in contactless transactions increasing four fold in the year to September 2013, with £461.6 million spent with Visa contactless cards up from £96.7 million in the previous year.
Another key payment innovation development was RBS and NatWest making Visa Personal Payments available to their UK customers. Allowing person-to-person payments, the service enables anyone with a Visa card to send payments to another Visa cardholder via a smartphone without the need to share any account details. More than 3.1 million NatWest customers have downloaded the updated mobile banking app to date.
This early mobile payment success, the growth of contactless and the roll-out of V.me by Visa signifies that Visa Europe is on track to realise its prediction that 50% of Visa transactions will made be made through a mobile device by 2020.
Commenting on the results and his vision for Visa Europe, Chief Executive Officer Nicolas Huss, who joined on 1st October 2013, said: “I have joined a very successful business. We have huge scale – as many Visa cards as people in Europe (500m) and €1 in every €6.50 spent in Europe is now spent on a Visa card.
“This is an excellent platform on which to build and I have four main priorities for the future. We will scale-up our next generation payment solutions to move in pace with the rapid adoption of new technologies and, more particularly, the growth of mobile and digital commerce. We will apply a disciplined commercial focus to operate a leaner, more agile company. We will work constructively with regulators to arrive at mutually beneficial solutions. And we will work more flexibly to meet the needs of our customers and partners across Europe.
“As a membership organisation focused on European solutions for the best interests of all parties in our four-party model, our continued success is good for the European economy because electronic payments fuel commerce, replace inefficient and expensive cash and fight the shadow economy. It is good for banks, issuers and acquirers, because we invest on their behalf to deliver payments innovations. It is good for retailers and businesses because we enable them to do business quicker, safer and more easily across any channel. And it is good for consumers because it enables them to pay with ease, confidence and security.”
There are now 500m Visa cards in Europe. Additionally, €1 in every €6.50 being spent in Europe is now spent on a Visa card. In the year to September 2013, the total expenditure on Visa cards reached €2 trillion (€2,000,000,000,000), while point-of sale spend increased by 8.5%.
E-commerce continued to grow at exceptional speed in 2013, with a 20% year-on-year rise. This coincides with Visa Europe’s launch of V.me by Visa, the first pan-European digital wallet service to be offered by banks and financial institutions, in four countries – France, Spain, Poland and the UK.
Contactless has passed the tipping point in many markets and is growing at lightning pace across Europe. Contactless payment is now available in twice as many countries as this time last year while transactions have nearly tripled and terminals almost doubled. At the same time, 62 mobile contactless projects are now live or planned to launch across Europe.
For more details on Visa Europe’s annual results and Nicolas Huss’ vision for the business, please visit http://www.visaeurope.com/en/viewpoints.aspx
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 37 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. 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.
There are 500m Visa cards in Europe, while €1 in every €6.50 spent in Europe is on a Visa card. In the year to September 2013, total expenditure on Visa cards reached €2 trillion, while point-of-sale spend increased by 8.5% to €1.4 trillion. Annual online spending on Visa cards continues to grow (20% year-on-year) and now stands at €240bn.
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.
For more information, please visit www.visaeurope.com
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
Sep. 3, 2015 05:00 AM EDT Reads: 490
The 3rd International WebRTC Summit, to be held Nov. 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA, announces that its Call for Papers is now open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 15th International Cloud Expo, 6th International Big Data Expo, 3rd International DevOps Summit and 2nd Internet of @ThingsExpo. WebRTC (Web-based Real-Time Com...
Sep. 3, 2015 05:00 AM EDT Reads: 1,572
Organizations from small to large are increasingly adopting cloud solutions to deliver essential business services at a much lower cost. According to cyber security experts, the frequency and severity of cyber-attacks are on the rise, causing alarm to businesses and customers across a variety of industries. To defend against exploits like these, a company must adopt a comprehensive security defense strategy that is designed for their business. In 2015, organizations such as United Airlines, Sony...
Sep. 3, 2015 04:45 AM EDT Reads: 520
ElasticBox, the agile application delivery manager, announced freely available public boxes for the DevOps community. ElasticBox works with enterprises to help them deploy any application to any cloud. Public boxes are curated reference boxes that represent some of the most popular applications and tools for orchestrating deployments at scale. Boxes are an adaptive way to represent reusable infrastructure as components of code. Boxes contain scripts, variables, and metadata to automate proces...
Sep. 3, 2015 04:30 AM EDT
Through WebRTC, audio and video communications are being embedded more easily than ever into applications, helping carriers, enterprises and independent software vendors deliver greater functionality to their end users. With today’s business world increasingly focused on outcomes, users’ growing calls for ease of use, and businesses craving smarter, tighter integration, what’s the next step in delivering a richer, more immersive experience? That richer, more fully integrated experience comes ab...
Sep. 3, 2015 04:00 AM EDT Reads: 726
Containers are not new, but renewed commitments to performance, flexibility, and agility have propelled them to the top of the agenda today. By working without the need for virtualization and its overhead, containers are seen as the perfect way to deploy apps and services across multiple clouds. Containers can handle anything from file types to operating systems and services, including microservices. What are microservices? Unlike what the name implies, microservices are not necessarily small,...
Sep. 3, 2015 03:15 AM EDT
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, Security, Big Data, Internet of Things, DevOps 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 bu...
Sep. 3, 2015 02:30 AM EDT Reads: 1,680
The 5th International DevOps Summit, co-located with 17th International Cloud Expo – being held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the ...
Sep. 3, 2015 01:00 AM EDT Reads: 1,640
SYS-CON Events announced today that the "Second Containers & Microservices Expo" will take place November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities.
Sep. 2, 2015 11:45 PM EDT Reads: 641
In his session at @ThingsExpo, Lee Williams, a producer of the first smartphones and tablets, will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater. He will explain how M2M controllers work through wirelessly connected remote controls; and specifically delve into a retrofit option that reverse-engineers control codes of existing conventional controller systems so the...
Sep. 2, 2015 11:15 PM EDT Reads: 232
DevOps Summit, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development...
Sep. 2, 2015 10:45 PM EDT Reads: 1,616
Akana has announced the availability of the new Akana Healthcare Solution. The API-driven solution helps healthcare organizations accelerate their transition to being secure, digitally interoperable businesses. It leverages the Health Level Seven International Fast Healthcare Interoperability Resources (HL7 FHIR) standard to enable broader business use of medical data. Akana developed the Healthcare Solution in response to healthcare businesses that want to increase electronic, multi-device acce...
Sep. 2, 2015 10:00 PM EDT Reads: 311
Mobile, social, Big Data, and cloud have fundamentally changed the way we live. “Anytime, anywhere” access to data and information is no longer a luxury; it’s a requirement, in both our personal and professional lives. For IT organizations, this means pressure has never been greater to deliver meaningful services to the business and customers.
Sep. 2, 2015 08:00 PM EDT Reads: 841
In 2014, the market witnessed a massive migration to the cloud as enterprises finally overcame their fears of the cloud’s viability, security, etc. Over the past 18 months, AWS, Google and Microsoft have waged an ongoing battle through a wave of price cuts and new features. For IT executives, sorting through all the noise to make the best cloud investment decisions has become daunting. Enterprises can and are moving away from a "one size fits all" cloud approach. The new competitive field has ...
Sep. 2, 2015 07:45 PM EDT Reads: 154
Advances in technology and ubiquitous connectivity have made the utilization of a dispersed workforce more common. Whether that remote team is located across the street or country, management styles/ approaches will have to be adjusted to accommodate this new dynamic. In his session at 17th Cloud Expo, Sagi Brody, Chief Technology Officer at Webair Internet Development Inc., will focus on the challenges of managing remote teams, providing real-world examples that demonstrate what works and what...
Sep. 2, 2015 07:15 PM EDT