• Consumer spending increases +2.4% year-on-year in September, having been broadly flat in August (+0.1%) • Spending via e-commerce increases solidly (+6.0% on the year), while face-to-face expenditure saw a minimal increase (+0.1%) • Recreation & Culture (+6.8%) and Hotels, Restaurants & Bars (+6.0%) are best performing sectors
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
One third of British travellers caught in airport ‘Squanderlust’ spending
1.1 billion contactless transactions made by Visa cardholders across Europe in the last 12 months More than €12.6 billion spent in total More than 130 million Visa contactless cards are now in circulation in Europe Visa’s contactless infrastructure is ready for the next generation of digital payments
Research suggests 18-24 year olds use their cards less when overseas due to perceived higher costs, despite research proving otherwise
Visa Europe will offer Visa debit, credit and reloadable prepaid cardholders access to Apple Pay "Supported by Visa’s extensive contactless infrastructure, Apple Pay in the UK offers an easy, secure and private way to pay, catapulting mobile payments into the mainstream" Jeremy Nicholds, Visa Europe
Smart devices on track to replace cash and cards as UK mobile payments projected to hit over £1.2bn a week by 2020 -UK mobile payments predicted to grow three-fold in the next five years as shoppers embrace new options and spend more on mobile -One in four estimate spending more than £50 a week on mobile by 2020
Three-quarters of 16-24 year olds would feel comfortable using biometric security 69% believe it will be faster and easier than passwords and PINs Half of young people foresee the death of passwords by 2020
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