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.
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.
Today, €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. 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 recently 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.
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.
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. 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%).
Peter Ayliffe, Chief Executive, Visa Europe said:
„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”.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
