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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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Visa launches “AIB Everyday Rewards” – a rewards programme for AIB cardholders

Press Releases   •   May 11, 2017 07:00 GMT

Visa has announced the launch of “AIB Everyday Rewards” offering AIB cardholders cashback from some of Ireland’s favourite shopping brands.

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Irish consumer spending rises +0.7% year-on-year in April

Press Releases   •   May 09, 2017 07:00 GMT

Dublin, 9 May 2017: According to Visa's Irish Consumer Spending Index, which measures expenditure across all payment types (cash, cheques and electronic payments), household spending continued to increase on an annual basis during April.

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Irish consumer spending increases +4.2% year-on-year in March

Press Releases   •   Apr 11, 2017 07:00 GMT

The latest data from Visa's Irish Consumer Spending Index, which measures expenditure across all payment types (cash, cheques and electronic payments), saw a +4.2% year-on-year increase in expenditure. The latest reading pointed to a solid expansion, but still represented slower than the average growth since the series began in September 2014.

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Irish consumer spending falls -0.7% year-on-year in February driven by missing Leap Day in 2017

Press Releases   •   Mar 13, 2017 07:00 GMT

The latest data from Visa's Irish Consumer Spending Index, which measures expenditure across all payment types (cash, cheques and electronic payments), showed a -0.7% year-on-year fall in consumer spending, compared to a +3.9% rise in January. The primary factor for the decline was the additional trading day (Leap Day) in February 2016.

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Apple Pay Now Available to Irish Visa Cardholders

Press Releases   •   Mar 07, 2017 09:00 GMT

Today, Visa announced that Visa debit and credit cardholders from Ulster Bank can now use Apple Pay, giving users an easy, secure and private way to pay. Apple Pay can be used with any of the contactless point-of-sale terminals which are already used by Visa cardholders every day throughout Ireland.

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