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annual report 2011.

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. The company also reported that the fraud losses on Visa cards in Europe reached an all-time low. In 2011, fraud was accounting for less than four cents in every €100 spent.

The credit card giant has issued of 30 million contactless cards and launched its first mobile payment services in 2011. ”We expect this growth in electronic payments to continue during 2012 when we will be launching mobile payments and our digital wallet services. These new services, that are a key part of our future of payments strategy, will revolutionise 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,’ commented Peter Ayliffe, Chief Executive of Visa Europe.