Visa to Launch First Everywhere Initiative in Europe
Live competition at Mobile World Congress challenges five start-ups to bring payments to the Internet of Things
Topics: Business enterprise
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Visa Opens New Innovation Center in London; Extends Access to Visa’s Developer Platform for European Clients
• At just over 1,000 square meters, new Innovation Center is Visa’s largest to date • Space will host partners and clients from across Europe to collaborate on new ways to pay • Center features live demonstrations including Internet of Things applications, virtual reality and biometrics • Mayor of London’s office welcomes the investment in the London fintech community
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Visa Technology Extends Mobile Payments into 12 European Countries by End of 2017
• Visa Token Service, which enables secure and convenient mobile payments, is live in five European markets, with seven more in the pipeline • European consumers currently spending an average of €9 in face-to-face transactions when they use their mobile device to pay • More than 1.2 million European merchants offer contactless point-of-sale, driving uptake in mobile payments
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December rounds up strongest quarter for consumer spend since 2014
Headline findings · Consumer spending up +2.6% on the year in December · Spending growth remains solid in e-commerce categories (+5.5% year-on-year), but rises only slightly in face-to-face categories (+0.7%) · Hotels, Restaurants & Bars (+7.3%) and Recreation & Culture (+6.4%) see strongest increases in expenditure
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November spending reached 22-month high, driven by e-commerce around Black Friday
Consumer spending increases +3.2% year-on-year, the highest rate since January 2015 Record increase in e-commerce expenditure (+12.5%), but face-to-face spending declines slightly (-1.4%) All broad spending categories see higher spending, led by Recreation & Culture (+9.3%)
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Cash is a Ghost of Christmas Past
• More than £2bn spent on Visa cards during Black Friday • Online Visa spend in week leading up to Black Friday up 13% year-on-year with almost £1bn spent on Black Friday, alone • Contactless and mobile technology are driving new shopping habits in the run-up to Christmas
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New European plans threaten disruption and inconvenience for UK’s online shoppers
• Plans requiring additional checkout steps means more declined transactions and longer and more complicated checkout experiences • 52% of UK shoppers say increased online checkout steps will cause them to abandon purchases • Changes mean no more express checkouts or quick in-app payments from mobiles, reduced access to non-European online shopping sites, and longer queues
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UK households set to spend £63.4 billion on international travel by 2025
• UK is predicted to become the second highest spenders in Europe, and the fourth globally • Average UK household spend on international travel to reach £9,300 annually by 2025 • Growth in spend by over 65s predicted to be a key driver
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Visa Inc. Completes Acquisition of Visa Europe
Visa Inc. (NYSE: V) announces the completion of its acquisition of Visa Europe Ltd.
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Consumer spending slows amid economic and political uncertainty
• Slowest increase in consumer spending since February 2014 • Transportation and communications dropped -5.2% year-on-year, driven by slowing growth in car sales • Clothing & Footwear retailers buck the trend, posting +4.2% year-on-year, its first rise in three months • Growth in e-commerce slows to +2.3% year-on-year while face-to-face expenditure falls slightly on an annual basis (-0.8%)
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Small businesses retain strong trust in banking providers but still looking for more from their payment services
• SMEs identify banks as their preferred provider of transaction services, but take-up of newer ways to pay and be paid varies • Key barriers to change highlighted as perceived cost, risk and other priorities being addressed first
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Consumers embrace £30 limit as higher value spend drives new contactless behaviour across the UK
• Contactless transactions over £20 grew at more than double the rate of those under £20 following the introduction of new £30 spend limit • Bars and pubs a prime driver of growth for contactless above £20, seeing 30% average weekly growth • Contactless payments now make up 10% of all face-to-face payments between £20 – £30
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High street enjoys a strong return in January
Headline findings: • Consumer spending rose +2.7% on an annual basis in January, the highest growth rate since May 2014 • Clothing & Footwear surged +5.0% from a dip in December, thanks to cold weather and January sales • High Street spending bounced back to an eight-month high
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E-commerce grows strongly despite modest overall spending in November
Headline Findings •Modest increase in consumer spending in November (+1.1% on the year) •Expenditure continues to rise solidly in e-commerce (+4.1%), but declines on the high street (-1.5%) •Hotels, Restaurants & Bars, Recreation & Culture and Clothing & Footwear see strongest increases in spending during November
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Visa Inc. to Acquire Visa Europe
Strategic Acquisition to Create One Global Company That Further Extends Visa’s Payment Leadership; Adds Approximately 3,000 European Issuers, over 500M Card Accounts and more than €1.5 trillion in Payments Volumes to Visa Inc. Portfolio
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Visa Expenditure Index for September - Solid increase in September consumer spending, driven by leisure and entertainment activities
Headline findings
Consumer spending continues to rise at a steady rate of +1.8% year-on-yearSolid increases seen across a broad range of categories, with the Recreation & Culture and Clothing & Footwear sectors among the best performersStrong growth for e-commerce of +5.8% year-on-year, though high street spending remains flat
