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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

###

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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Consumer spend falls for the third month in a row

Press Releases   •   Aug 07, 2017 08:30 BST

• Consumer spending falls by -0.8% on an annual basis, following declines in May and June • Transport & Communication (-6.1%) and Clothing & Footwear (-5.2%) see most marked reductions in spend • Face-to-Face expenditure falls at quicker pace (-3.7% on the year), while E-commerce spend increases by +3.6%

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Convenience and security concerns drive three-quarters of Brits to abandon online purchases

Press Releases   •   Aug 02, 2017 08:00 BST

• The UK is Europe’s largest ecommerce market, with sales exceeding £130bn in 2016[1] • Nine out of 10 millennials have used their mobile phone to make a purchase

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Visa Expands Global Transaction Processing with Facilities in Singapore and United Kingdom

Press Releases   •   Jul 26, 2017 05:01 BST

New Processing Centers Designed to Meet the Growing Demand for Digital Payments around the World

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Visa and PayPal Extend Partnership to Europe

Press Releases   •   Jul 18, 2017 07:00 BST

Visa and PayPal have 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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June rounds off worst quarter for spending since Q3 2013

Press Releases   •   Jul 10, 2017 08:00 BST

• Household expenditure declines on an annual basis for second month running (-0.3%) • Spending falls by -0.3% year-on-year on average over Q2, lowest quarterly figure since Q3 2013 • Expenditure decreases through Face-to-face categories (-2.4% on the year), while growth in E-commerce expenditure softens (+2.9%)

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Visa Commits to Strategic Investment in Klarna; Companies Plan Partnership Deal

Press Releases   •   Jun 27, 2017 13:30 BST

Future collaboration will enhance payment experiences for consumers in Europe

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Kompas Awarded €50,000 in Visa’s first European Everywhere Initiative

Press Releases   •   Jun 27, 2017 10:30 BST

• UK start-up won with solution that uses machine learning to support regional commerce experiences • More than 300 entries submitted from start-ups in 19 countries

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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