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.
Future collaboration will enhance payment experiences for consumers in Europe
• Visa Checkout, the easier way to pay online with a single sign-in, is making its debut in the UK, launching on lastminute.com • An exciting range of promotions is kicking off the partnership between Visa and lastminute.com • Enrolled customers have a 51% higher conversion rate when compared to other customers and data shows reduced cart abandonment
• Consumer spending rises at the weakest pace for three months in April (+0.5% year-on-year) • Renewed increase in face-to-face spend (+0.3%) contrasts with slight dip in e-commerce (-0.1%) • Food & Drink categories see best growth for three years (+5.9%), while Clothing & Footwear records first increase in expenditure for five months (+2.3%)
New European competition invites start-ups to submit ideas focused on improving the local community and travel experience, enhancing everyday lives of people everywhere.
Live competition at Mobile World Congress challenges five start-ups to bring payments to the Internet of Things
• At just over 1,000 square meters, new Innovation Center is Visa’s largest to date • Space will host partners and clients from across Europe to collaborate on new ways to pay • Center features live demonstrations including Internet of Things applications, virtual reality and biometrics • Mayor of London’s office welcomes the investment in the London fintech community
• Visa Token Service, which enables secure and convenient mobile payments, is live in five European markets, with seven more in the pipeline • European consumers currently spending an average of €9 in face-to-face transactions when they use their mobile device to pay • More than 1.2 million European merchants offer contactless point-of-sale, driving uptake in mobile payments
Headline findings · Consumer spending up +2.6% on the year in December · Spending growth remains solid in e-commerce categories (+5.5% year-on-year), but rises only slightly in face-to-face categories (+0.7%) · Hotels, Restaurants & Bars (+7.3%) and Recreation & Culture (+6.4%) see strongest increases in expenditure
Consumer spending increases +3.2% year-on-year, the highest rate since January 2015 Record increase in e-commerce expenditure (+12.5%), but face-to-face spending declines slightly (-1.4%) All broad spending categories see higher spending, led by Recreation & Culture (+9.3%)
• More than £2bn spent on Visa cards during Black Friday • Online Visa spend in week leading up to Black Friday up 13% year-on-year with almost £1bn spent on Black Friday, alone • Contactless and mobile technology are driving new shopping habits in the run-up to Christmas
• Plans requiring additional checkout steps means more declined transactions and longer and more complicated checkout experiences • 52% of UK shoppers say increased online checkout steps will cause them to abandon purchases • Changes mean no more express checkouts or quick in-app payments from mobiles, reduced access to non-European online shopping sites, and longer queues
• UK is predicted to become the second highest spenders in Europe, and the fourth globally • Average UK household spend on international travel to reach £9,300 annually by 2025 • Growth in spend by over 65s predicted to be a key driver
Visa Inc. (NYSE: V) announces the completion of its acquisition of Visa Europe Ltd.
• Slowest increase in consumer spending since February 2014 • Transportation and communications dropped -5.2% year-on-year, driven by slowing growth in car sales • Clothing & Footwear retailers buck the trend, posting +4.2% year-on-year, its first rise in three months • Growth in e-commerce slows to +2.3% year-on-year while face-to-face expenditure falls slightly on an annual basis (-0.8%)
• SMEs identify banks as their preferred provider of transaction services, but take-up of newer ways to pay and be paid varies • Key barriers to change highlighted as perceived cost, risk and other priorities being addressed first
• Contactless transactions over £20 grew at more than double the rate of those under £20 following the introduction of new £30 spend limit • Bars and pubs a prime driver of growth for contactless above £20, seeing 30% average weekly growth • Contactless payments now make up 10% of all face-to-face payments between £20 – £30
Headline findings: • Consumer spending rose +2.7% on an annual basis in January, the highest growth rate since May 2014 • Clothing & Footwear surged +5.0% from a dip in December, thanks to cold weather and January sales • High Street spending bounced back to an eight-month high
Headline Findings •Modest increase in consumer spending in November (+1.1% on the year) •Expenditure continues to rise solidly in e-commerce (+4.1%), but declines on the high street (-1.5%) •Hotels, Restaurants & Bars, Recreation & Culture and Clothing & Footwear see strongest increases in spending during November
Strategic Acquisition to Create One Global Company That Further Extends Visa’s Payment Leadership; Adds Approximately 3,000 European Issuers, over 500M Card Accounts and more than €1.5 trillion in Payments Volumes to Visa Inc. Portfolio
