• Spending rises +1.5% on the year in February, up from +0.4% in January • Expenditure through e-commerce channels continues to increase (+3.2%), while face-to-face spending falls again (-3.0%) • Recreation & Culture (+3.3%) and Hotels, Restaurants & Bars (+1.2%) see further increases in spend on an annual basis
• 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
• 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
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
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%)
Connects banks with other mobile wallet providers for instant access, streamlined implementation
• 1-in-5 in-person Visa-processed card payments are now contactless • 3 billion contactless transactions made using Visa cards and devices across Europe between 1 May 2015 and 30 April 2016 • 165 million Visa contactless cards and 3.2 million POS terminals are now in active in Europe
Headline findings: • Total consumer spending increases by +2.5% year-on-year in April • E-commerce growth rate of +8.4% year-on-year but face-to-face expenditure is broadly flat (+0.2% year-on-year) • Clothing and footwear sees biggest fall in year-on-year spending since September 2014
• 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
Headline findings: • Consumer spending rises by +2.3% year-on-year • Strong increases in expenditure seen in Recreation & Culture (+5.6%) and Hotels, Restaurants & Bars (+5.3%), but spending at Clothing & Footwear retailers declines (-1.8%) • Growth led by higher e-commerce spending (+4.2%), as face-to-face expenditure falls slightly (-0.9%)
• Household spending increases +2.2% year-on-year in February • Sharp rise in spending on Hotels, Restaurants & Bars (+13.6%) and Recreation & Culture (+9.7%), while expenditure growth reaches 13-month high across Food & Drink (+4.8%) retailers • E-commerce on upward trajectory as growth improves to +6.3% on an annual basis
Visa Europe is a payments technology business owned and operated by member banks and other payment service providers from 38 countries.
Visa Europe is at the heart of the payments ecosystem providing the services and infrastructure to 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 is also the largest transaction processor in Europe, responsible for processing more than 18 billion transactions annually.
There are more than 500m Visa cards in Europe, while €1 in every €6 spent in Europe is on a Visa card. Total expenditure on Visa cards exceeds €2 trillion annually, with €1.5 trillion spent at point-of-sale.
Visa Europe is an independent business with an exclusive, irrevocable and perpetual licence to use the Visa brand in Europe. Visa Europe works in partnership with Visa Inc. to enable global Visa payments in more than 200 countries and territories.
For more information, visit www.visaeurope.com and @VisaEuropeNews