Visa
16:46
19/01/2012
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Visa
Double digit growth of Visa Debit
Spend on Visa cards in Europe grew 14% in 2011, totaling €1.16 trillion, according to results released by Visa Europe. This growth now means that €1 in every €7 of consumer spending in Europe is on a Visa card, up from €1 in €8 in 2010 and €1 in €18 in 2000. Belgians use Visa cards more frequently at the points of sale (+1.5%) for an average lower amount (88.9€).
The growth in debit, as the preferred payment card for Europeans, continued apace, registering 16% year-on-year growth in both value and volume of transactions made at point of sale. Nearly 80% of Visa consumer spend is on debit cards in Europe. “Belgian consumers are using their cards more frequently which resulted in an increase of 1.52%. In addition, we see a continued trend of using cards for smaller amounts: in 2011, the average transaction value at the point of sales was €88.9, compared to €89.9 in 2010. That amount will undoubtedly go down even more over the next few years,” says Michiel Wielhouwer, country manager Benelux for Visa Europe.
Fraud losses on Visa cards in Europe reached an all time low in 2011, with the fraud to sales ratio falling by 27% to 0.038%, meaning that fraud now accounts for less than four cents in every €100 spent. Much of this downward trend in the face-to-face environment can be attributed to the success of EMV chip technology, with more than 75% of all Visa cards in Europe now chip-enabled. In Belgium, the fraud to sales ratio dropped 19% the past year from 0,14% to 0,11 %.
More information: www.visaeurope.com
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