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Black Friday boost helps Irish consumer spending growth accelerate in November

Press Releases   •   Dec 08, 2017 07:00 GMT

The latest edition of Visa's Irish Consumer Spending Index suggests that Black Friday sales encouraged a sharp year-on-year rise in Irish household expenditure during November. The index, which measures expenditure across all payment types (cash, cheques and electronic payments), pointed to a marked acceleration in the rate of growth in consumer spending.

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Irish consumer spending growth slows to five-month low in October as shoppers adapt to sterling fluctuations

Press Releases   •   Nov 14, 2017 07:00 GMT

Irish consumer spending increased for the eighth successive month during October, but saw the slowest rate of growth since May, primarily due to a fall in purchases from UK online retailers compared to the same month last year.

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Irish small businesses could be losing out on up to €6,000 per annum due to reliance on cash payments

Press Releases   •   Oct 25, 2017 07:00 GMT

New research commissioned by Visa has revealed that Irish small businesses are at the risk of falling behind international peers in their adoption of digital payments technology. The research shows that Irish SMEs could individually save between €5,000 and €6,000 per year on cash handling costs by increasing the amount of electronic payments they process.

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Irish consumers continue shopping ahead of the Budget as September sees fastest rise in spending in six months

Press Releases   •   Oct 09, 2017 07:00 GMT

There was no sign of consumers tightening their purse strings ahead of the Budget this week as Visa's Irish Consumer Spending Index, which measures expenditure across all payment types (cash, cheques and electronic payments), signalled the fastest acceleration in consumer spending in six months for the month of September.

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Mobile Money Takes Off as 78% of Irish People Use their Phones to Bank and Make Everyday Payments

Press Releases   •   Sep 26, 2017 07:00 GMT

Uptake of mobile devices to manage money, conduct banking and make payments is greater than ever, as 78% of Irish people now use their mobile devices to keep track of their finances and make everyday payments such as bills, parking and going out.

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eCommerce Drives +2.5% Year-on-Year Increase in Irish Consumer Spending in August

Press Releases   •   Sep 12, 2017 07:00 GMT

Visa's Irish Consumer Spending Index, which measures expenditure across all payment types (cash, cheques and electronic payments), revealed that Irish household spending rose +2.5% year-on-year in August, with the rate of expansion unchanged from that seen in July. Household spending has now seen an increase year-on-year for the past six consecutive months.

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Irish consumer spending rises +2.5% year-on-year in July – fastest growth since March

Press Releases   •   Aug 08, 2017 07:00 GMT

Growth of spending by households in Ireland continued to gather pace at the start of the third quarter of the year. Visa's Irish Consumer Spending Index, which measures expenditure across all payment types (cash, cheques and electronic payments), signalled a +2.5% year-on-year increase in expenditure in July, up from +1.8% in June.

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Visa and PayPal Extend Partnership to Europe

Press Releases   •   Jul 18, 2017 07:00 GMT

  • Enhances the online, in-app and in store payment experience for consumers in Europe
  • Enables PayPal in Europe to issue Visa accounts

18 July 2017— Visa (NYSE:V) and PayPal (Nasdaq: PYPL) today announced an extension of their strategic partnership to Europe.

The two companies are already collaborating in the U.S. and Asia Pacific to accelerate the adoption of secure and convenient online, in-app and in-store payments. This latest step brings the benefits of the partnership to European consumers and businesses.

Additionally, PayPal - under its banking license in Europe[1] - is joining the Visa network of client financial institutions and will be able to offer Visa accounts in Europe, enabling consumers and businesses to use their PayPal funds to spend wherever Visa is accepted worldwide.

"Visa and PayPal have a shared goal of giving consumers a safe, convenient way to pay using their preferred device. Expanding our partnership into Europe provides greater consumer choice and benefits merchants,” said Bill Sheedy, CEO, Europe Region, Visa Inc. “By having the option to issue Visa accounts in Europe, PayPal will now have the ability to offer customers new and innovative ways to manage and move their money regardless of platform or device.”

“The agreement announced today will deepen PayPal’s collaboration with Visa and its partners across our European markets”, said Rupert Keeley, Executive Vice President and CEO, PayPal (Europe) S.à r.l. & Cie, S.C.A. “Our partnership will enable us to offer more choice to millions of consumers and businesses through an expanded range of innovative products. Whether it’s online, in-app or in-store, PayPal with Visa will offer simple, secure and convenient ways to pay and get paid.”

The European partnership agreement makes it easier for financial institutions to offer their Visa account holders the ability to checkout anywhere PayPal is accepted online by offering greater consumer choice. It will also expand the acceptance of PayPal by European businesses that accept Visa in physical locations, providing growth opportunities for Visa, PayPal and their customers based on the following:

  • Customer Choice: PayPal and Visa will create a seamless experience for consumers who choose to pay with their Visa card at places that accept PayPal. Through collaboration with Visa bank partners, consumers will be able to add Visa cards into the PayPal wallet easily from other banking apps.
  • PayPal in Europe: PayPal – under its banking license in Europe[[1]] - will have the ability to issue Visa accounts to European consumers and businesses. In the future, this would make it possible for PayPal customers to use their PayPal funds wherever Visa is accepted worldwide.
  • Digital collaboration: Visa and PayPal have agreed to extend participation in the Visa Digital Enablement Program (VDEP) in Europe. VDEP provides Visa's partners with access to tokenisation technology, which enables simple and secure payment on mobile phones or any connected device. This will help expand the use of PayPal to businesses that accept Visa in physical locations.
  • Easier and faster access to funds: Visa will provide the opportunity for PayPal to leverage Visa Direct in Europe, which will allow PayPal customers to move funds to their Visa accounts in real time across multiple markets.

About Visa

Visa Inc. (NYSE: V) is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world's most advanced processing networks -- VisaNet -- that is capable of handling more than 65,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa's innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, pay ahead with prepaid or pay later with credit products. For more information, visit our website (www.visaeurope.com), the Visa Vision blog (vision.visaeurope.com), and @VisaInEurope

About PayPalFueled by a fundamental belief that having access to financial services creates opportunity, PayPal (Nasdaq: PYPL) is committed to democratizing financial services and empowering people and businesses to join and thrive in the global economy. Our open digital payments platform gives PayPal's 203 million active account holders the confidence to connect and transact in new and powerful ways, whether they are online, on a mobile device, in an app, or in person. Through a combination of technological innovation and strategic partnerships, PayPal creates better ways to manage and move money, and offers choice and flexibility when sending payments, paying or getting paid. Available in more than 200 markets around the world, the PayPal platform, including Braintree, Venmo and Xoom, enables consumers and merchants to receive money in more than 100 currencies, withdraw funds in 56 currencies and hold balances in their PayPal accounts in 25 currencies. For more information on PayPal, visit https://www.paypal.com/about. For PayPal financial information, visit https://investor.paypal-corp.com.

Visa (NYSE:V) and PayPal (Nasdaq: PYPL) today announced an extension of their strategic partnership to Europe. The two companies are already collaborating in the U.S. and Asia Pacific to accelerate the adoption of secure and convenient online, in-app and in-store payments. This latest step brings the benefits of the partnership to European consumers and businesses.

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Irish consumer spending growth remains modest with +1.6% increase year-on-year in June

Press Releases   •   Jul 11, 2017 07:30 GMT

Visa's Irish Consumer Spending Index, which measures expenditure across all payment types (cash, cheques and electronic payments), recorded another month of modest growth in consumer spending year-on-year, with a 1.6% increase in June.

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Continued slowdown in growth of Irish consumer spending with just +0.6% increase year-on-year in May

Press Releases   •   Jun 13, 2017 07:00 GMT

Visa's Irish Consumer Spending Index, which measures expenditure across all payment types (cash, cheques and electronic payments), signalled continued modest growth of consumer spending year-on-year in May. Expenditure was up +0.6% on the year compared with +9.2% in May 2016, with the rate of expansion little-changed from that seen in April (+0.7%).

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