Visa Europe: Mobile Will Account for More than Half of Visa Transactions by 2020

Jan. 23, 2012

In a recent statement noting both the overall growth of electronic payments in Europe and those made with Visa cards specifically, Visa Europe gave a glimpse of where it figures mobile payments will be by the end of the decade. Also, the company revealed it will be launching mobile payments and a digital wallet service in 2012. Peter Ayliffe, CEO of Visa Europe said: “These new services, that are a key part of our future, will revolutionize consumers’ everyday shopping experience to the extent that by 2020 we predict that over half of all Visa transactions in Europe will be on a mobile device.” Monitise plc, a London-based mobile payments provider and strategic partner of Visa Europe said it concurs with Visa Europe’s assessment. “The surge in mobile payments and transactions anticipated by Visa Europe mirrors the trend Monitise is seeing across its business,” said Monitise Group CEO Alastair Lukies. “On a current weekly annualized basis, the value of mobile payments and transfers across the Monitise technology platform is over £6 billion ($9.33 billion) and rising.”