Visa Europe is reporting that 77% of its business is now done with PIN Debit cards and that eCommerce growth made up 20 percent of all transactions in the U.K.  Here's an excerpt:



UK PIN Debit card use to exceed cash for first time

By Patrick Jenkins, Banking Editor | Financial Times



Debit card spending is on track to overtake cash as a payment method in the UK this year, according to Visa Europe, the card processor.



The group, owned by the banks for which it processes payments, said on Tuesday that 77 per cent of its business was now done with debit cards, rather than credit cards, after a 10 per cent rise in debit card transactions last year.



Visa said the swing was driven by a continued shift away from the use of cash and that online shopping has also driven growth, with 25%r of all Visa spending in the UK conducted online over the Christmas period and 20 per cent for the year as a whole.



“The growth in e-commerce is really staggering. The proportion has doubled in four years,” said Peter Ayliffe, chief executive of Visa Europe.





Read the Article in it's Entirety






About Visa Europe

Visa Europe is a membership association of 4,147 European banks that have collectively issued over 380 million Visa debit, credit and commercial cards in Europe.



In 2009, those cards were used to make purchases and cash withdrawals to the value of over €1.3 trillion.



In October 2007, Visa Europe became independent of the new global Visa Inc., with an exclusive, irrevocable and perpetual licence in Europe.



As a dedicated European payment system it 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.



Visa enjoys unsurpassed acceptance around the world. In addition, Visa/PLUS is one of the world’s largest global ATM networks, offering cash access in local currency in over 170 countries.

European focus

  • Visa Europe is strongly committed to the goals of a Single Euro Payment Area (SEPA), in particular the ability for consumers to use card payments all across Europe and have a consistent experience doing so

  • Visa Europe confirmed in January 2007 that all its products were in compliance with the SEPA Cards Framework (SCF) principles since January 2007, a full year ahead of the implementation deadline set by the European Payments Council (EPC)

  • Europe is a distinct market – commercially, culturally and politically – and Visa Europe is a truly European payments organisation addressing these factors. Visa Europe has a unique business model backed up by around 1000 employees drawn from nearly all of its 36 European markets.

Visa Europe Management

  • Peter Ayliffe is President and CEO of Visa Europe. He is responsible for Visa’s business in 36 countries

  • With over 70% of Visa Europe’s business focused on debit, and thus directly connected to its member banks current accounts (the core of their business), its members have an invested interest in how Visa Europe is managed. One of Visa Europe’s unique attributes is the way that its member banks influence and oversee the management of the company, its systems and its operations

  • Visa Europe's members are represented by 17 non-executive Directors, each of whom is a board-level employee of their respective organizations elected from member banks in Europe. The Visa Europe Board is chaired by Jan Lidén, President and Chief Executive Officer of Swedish bank FöreningsSparbanken

  • The Executive Management Committee is the most senior internal day-to-day decision making body in the company. Meeting regularly and reporting to the Board of Directors, it makes all the decisions that relate to the day-to-day operation of the company

Products and services



Consumer Products: Visa has a complete portfolio of payment products to suit every bank customer – from basic ATM cash cards, through to debit and credit cards with a full range of benefits and services. These include Visa Classic, Visa Gold, Visa Platinum, Visa Infinite, Visa Electron, PLUS and now, V PAY, a new European debit product. Prepaid cards issuance has registered significant growth in the last 12 months, being a perfect idea as a gift card and being an ideal product for people who do not have a bank account.



Moreover Visa continues to introduce innovative payment technologies to the world. Contactless payments are the faster and more convenient way of making everyday purchases using a Visa chip card instead of cash. Visa payWave is the new contactless alternative to cash for low value transactions. We are also taking part in the O2 mobile wallet trial in London.



Visa Commercial: Visa Commercial products Visa Business, Visa Corporate, Visa Purchasing, Visa Distribution, Visa Commerce and Visa Government Procurement Card provide an easy, convenient way to buy office supplies, manage travel and entertainment expenses, control employee spending limits, meet cash flow needs, reduce operational expenses, and track, monitor and control business expenses. Backed by Visa’s unsurpassed acceptance and utility, Visa commercial products and services can be tailored to meet the changing needs of every business segment — from the multinational corporation to the sole proprietor and national governments.



Member Services: Visa provides a range of technology-related services to its Member banks. These include the processing of card transactions various fraud and risk-control systems and international cardholder assistance services.



Processing: Visa Europe Processing is the largest inter-bank card processor in Europe. Owned and operated in Europe by Visa Europe, it has a fully SEPA compliant European transaction switching platform. It is also the most technically advanced, fastest (4 time faster than competition) and cheapest processing system in Europe.



Visa Europe’s member institutions come from 36 European countries –











Andorra

France

Italy

Portugal

Austria

Germany

Latvia

Romania

Belgium

Gibraltar

Liechtenstein

Slovakia

Bulgaria

Greece

Lithuania

Slovenia

Cyprus

Greenland

Luxembourg

Spain

Czech Republic

Hungary

Malta

Sweden

Denmark

Iceland

Netherlands

Switzerland

Estonia

Ireland

Norway

Turkey

Finland

Israel

Poland

UK

Visa Europe’s headquarters are in London and there are local offices in Athens, Brussels, Frankfurt, Paris, Istanbul, Lisbon, Madrid, Milan, Stockholm, and Warsaw.



For more information:

Visa Europe Corporate Communications

+44 (0) 20 7795 5336

europeanmedia@visa.com

www.visaeurope.com









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Posted by John B. Frank Friday, January 22, 2010

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