Visa Europe to Invest €100 Million Annually in Mobile and E-Commerce

April 11, 2011

A Visa Europe executive said recently the company expects to spend €100 million a year on mobile and e-commerce payments ventures and infrastructure. Visa Europe CEO Peter Ayliffe noted that the company has invested €1 billion building its network in Europe since its formation in 2004 and plans to direct much of its future spending toward new payments technologies. “In just ten years we have moved from €1 in every €18 spent in Europe on a Visa card to €1 in €8,” Ayliffe said. “Today we have committed to accelerate this displacement of cash by bringing to market ways to pay that bring true convergence between electronic payments and mobile and e-commerce technology.”