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Christmas spending expected to fall for first time in half a decade

Press Releases   •   Nov 20, 2017 08:46 GMT

​Consumers plan to make the most of Black Friday promotions, but spend over the whole festive season is predicted to be lower than last year E-commerce set to take record share of Christmas spending, while the high street likely to face a challenging festive period

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Black Friday failed to lift consumer spending in November

Press Releases   •   Dec 11, 2017 08:53 GMT

Headline findings: - Household expenditure falls by -0.9% on the year after -2.1% drop in October - Face-to-Face spend continues to decline (-3.5%), as Black Friday spend moved further online, up +2.4% - Majority of sectors record lower expenditure, with Transport & Communication being the worst hit (-6.0%) - Miscellaneous Goods & Services remains a bright spot, up +4.9%

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Visa Readies Digital Payments for the Projected 500,000 Visitors Traveling to Russia for the 2018 FIFA World Cup Russia™

Press Releases   •   Nov 29, 2017 09:46 GMT

Visa, the Official Payment Service Partner of FIFA, releases travel and spend data timed with the Final Draw for the 2018 FIFA World Cup Russia™

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October spending declines at fastest rate in four years, driven by poor performance on the high street

Press Releases   •   Nov 13, 2017 00:01 GMT

Headline findings: - Overall spending falls at quickest rate since September 2013 (-2.0% year on year) - The high street suffers from the second-steepest drop since April 2012 (-5.0%) - Clothing & Footwear sees record decline in spend (-9.0%) - Hotels, Restaurants & Bars show resilience, reporting growth of +3.2%

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Visa Introduces New Payment Wearables for Fans Attending the Olympic Winter Games PyeongChang 2018

Press Releases   •   Nov 08, 2017 08:37 GMT

Visa, the exclusive payment technology partner at the Olympic and Paralympic Games, today introduced three commercially available wearable payment devices. In the spirit of the Olympic Winter Games, Visa created NFC-enabled payment gloves, commemorative stickers and Olympic pins that allow fans and athletes to complete seamless and secure payments with a simple tap.

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Smartphones have replaced bank branches for millennials managing money on the go

Press Releases   •   Oct 30, 2017 09:08 GMT

London, UK – 30 October 2017: Seven in 10 millennial Brits now use their mobiles to keep their financial affairs in order, according to research launched by Visa. Visa’s third Digital Payments study asked over 42,000 Europeans, including more than 2,000 UK respondents, about their attitudes to alternative forms of payment and money management.

The findings show that 69% of British people between the ages of 18-34 say they have used a mobile banking app, with more than half (53%) noting that they do so regularly. By comparison, 38% of total respondents across the country regularly conduct their banking via an app. The results reflect both increased investment in digital offerings from traditional providers, coupled with a growing number of app-first “challenger banks” entering the market.

UK consumers are also making use of the increased ability to quickly and securely make payments on their phone. Over a third (34%) note they have now made a peer-to-peer (P2P) digital payment via a mobile device, with millennials again leading the way as three fifths (59%) have sent mobile money to a family or friend.

With more mobile devices coming equipped with fingerprint scanners, millennials also demonstrate an increased appetite for using biometric technology when authenticating their identity. Thirty-five percent of 18-34 year-olds would prefer to make P2P payments using biometrics, compared with a national average of 30%; while 37% would like to use this technology in conjunction with a banking app, compared to 31% of total respondents.

Jonathan Vaux, Executive Director of Innovation Partnerships at Visa, says: “Mobile technology has revolutionised the retail banking industry. Until relatively recently, simple transactions such as transferring money between accounts meant visiting a bank branch in person. We are now seeing banks embrace the flexibility offered by apps to reduce the pain points for customers and allowing them to stay on top of their finances while on the move. In essence, anyone with a smartphone or tablet is now able to take their bank branch with them wherever they go.

“London is one of the fintech centres of the world. By offering both security and convenience via mobile without compromising on customer service financial institutions are capturing the imaginations of younger British consumers. As a payments provider we are working with partners of all sizes to ensure we offer best-in-class solutions to meet customer needs and remove the friction from mobile money management.”

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About the Digital Payments Study

The Digital Payments study was commissioned by Visa and conducted by Populus between June and July 2017 among 42,000 online consumers in 22 European markets including Austria, Belgium, Bulgaria, Czech Republic, Denmark, Finland, France, Germany, Greece, Ireland, Israel, Italy, Netherlands, Norway, Poland, Portugal, Slovakia, Spain, Sweden, Switzerland, Turkey and the UK. There were 2,077 respondents in the UK. The study provides a snapshot of consumer attitudes and behavioural insights around alternative forms of payments including mobile payment, digital wallets, and peer-to-peer payments among others.

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.

Visa research shows high adoption of banking and money management apps among young Brits

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Decline in consumer spending during September points to continued weakness in UK economy

Press Releases   •   Oct 09, 2017 00:01 BST

- Household expenditure declines -0.3% on the year, the fourth month in the last five to see a decline - Recreation & Culture (-1.3%) suffers biggest decline since July 2013 - High street continues to suffer as face-to-face spending declines -3.2% - Lower spending across Transport & Communication (-6.4%) and Household Goods (-2.6%)

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Visa Announces Team Visa Roster for the Upcoming Olympic and Paralympic Winter Games

Press Releases   •   Sep 20, 2017 10:16 BST

Visa has today announced its global team Visa roster for the Olympic and Paralympic Winter Games. The roster is comprised of over 40 Olympians and Paralympians from 17 countries, including British snowboarder, Billy Morgan and speed skater, Elise Christie.

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UK Consumer spending on course for weakest year since 2013 despite modest August uptick

Press Releases   •   Sep 11, 2017 00:01 BST

- Consumer spending rises for first time since April (+0.3% year-on-year) - Growth driven by higher E-commerce expenditure (+6.5% on the year), as Face-to-Face continues to decline (-2.6%) - With average growth of 0.2% each month this year, consumer spending is on track for its weakest calendar year of growth since 2013

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The contactless revolution ten years on: two-thirds of Brits now tap to pay

Press Releases   •   Sep 01, 2017 10:41 BST

News release

The contactless revolution ten years on: two-thirds of Brits now tap to pay

Contactless debit and credit cards were first used in the UK a decade ago

Millennials lead contactless adoption – over three quarters have made a contactless payment

A quarter of Brits have made contactless payments using mobile devices

London, UK – 1 September 2017: Ten years on from the introduction of contactless cards in the UK, Visa’s annual Digital Payments study released today reinforces the country’s leading position in driving contactless payments. The study of 2,000 consumers in the UK shows that two-thirds (66%) of Brits have used contactless cards to make a payment since they were introduced in September 2007.

Across the UK, contactless payments have grown in recent years, with a record 34% of card payments using contactless in June 2017.[1] More broadly, the UK is the leading market in Europe in terms of transaction volumes using contactless payments – ahead of Poland, France, Spain and Finland.[2]

Millennial shoppers (aged 18-35) have embraced contactless payments most enthusiastically, with over three quarters (76%) making a purchase with their contactless card – up a huge eleven percentage points on 2016 (65%). Over 65s are more tentative when it comes to ‘tap to pay’, 55% of this group have done so, a slight increase on last year’s figure of 52%. The sectors that have seen the greatest uptake of contactless usage are, in general, located on the high street – grocery stores and supermarkets see the highest level of contactless payments, followed by fast food restaurants and, increasingly, commuter transport.

Almost a fifth (16%) of all bank owned contactless payment terminals are located in London, which leads the UK in contactless usage, likely also driven by the successful integration of the technology across the Transport for London network.[3] Four in five (78%) Londoners have made a payment using a contactless debit or credit card, 12 percentage points above the national average. Outside of the ‘London Bubble’, there is the most room for growth in the North West and South West regions of England, where 41% of consumers are yet to make a contactless purchase using their card.

Comfort in using contactless is driving adoption of new payment methods. Just over a quarter (26%) of the country has used a mobile device to pay contactlessly in a shop, rising to 36% among contactless card users. Fifty-seven percent of those who have used contactless cards have also used their mobile devices for online banking, compared with just 35% of non-contactless users. These consumers are also almost twice as likely to have made high value purchases using their mobile device (27% vs 16%).

Kevin Jenkins, Managing Director for Visa UK & Ireland, says: “The introduction of contactless cards in the UK ten years ago was a watershed moment for consumers. Whether buying lunch, commuting without having to top-up, queuing at bars and festivals, or donating to charity, Brits have come to expect a painless payment experience.

“Yet there’s still room for the uptake of contactless to grow, particularly outside London and the South East. Our study shows the appetite for adopting new payment methods is greater than ever and with mobile devices opening up myriad new ways to pay, the next ten years looks set to see contactless payments become an ever greater part of our day to day lives.”

[1]UK Finance contactless usage figure, June 2017

2Visa data

3 UK finance – as of May 2017 there were 420,842 bank owned contactless terminals outside the M25 compared to 79,406 inside the M25

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Notes to editors:

Appendix: Regional Figures

Respondents from UK regions who have used a contactless debit or credit card to pay for everyday goods and services
Region Percentage of respondents
London 78%
Wales 70%
East Midlands 68%
South East England 68%
Northern Ireland 67%
Eastern England 65%
Yorkshire & Humberside 64%
Scotland 63%
North East England 62%
West Midlands 62%
North West England 59%
South West England 59%

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 the Digital Payments Study

The Digital Payments study was commissioned by Visa and conducted by Populus between June and July 2017 in 22 European markets including Austria, Belgium, Bulgaria, Czech Republic, Denmark, Finland, France, Germany, Greece, Ireland, Israel, Italy, Netherlands, Norway, Poland, Portugal, Slovakia, Spain, Sweden, Switzerland, Turkey and the UK. There were 2,077 respondents in the UK. The study provides a snapshot of consumer attitudes and behavioural insights around alternative forms of payments including mobile payment, digital wallets, and peer-to-peer payments among others.

[1]UK Finance contactless usage figure, June 2017

[2]Visa data

[3]UK finance – as of May 2017 there were 420,842 bank owned contactless terminals outside the M25 compared to 79,406 inside the M25

Visa releases its annual Digital Payments study to mark the 10 year anniversary of contactless in the UK.

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About Visa UK

About Visa Europe

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