Visa has strong expectations for the growth of contactless payments in Europe estimating that 52 million contactless payments will be made per month across Europe by the end of 2013 and that by 2020 half of Visa’s payment volume in Europe will be generated by a mobile phone.
Visa is expecting strong growth for mobile contactless payments at the point of sale in Europe fuelled by the arrival of more NFC enabled smartphones along with the growth of Visa’s PayWave NFC platform and V.me mobile wallet. According to Visa’s head of mobile business in Europe, Sandra Alzetta, Visa is forming strategic partnerships with key players in the mobile industry to have more smartphones in Europe coming with Visa’s payment services pre-installed. This includes companies like Telefonica , Vodafone and Samsung, and by the end of 2013 they expect to have over 80 devices running Visa PayWave.
The expected contactless payment growth to over 50 billion transactions per month is a strong increase from the 147 billion contactless payment transactions conducted in Europe in all of 2012. This includes payments made with contactless payment cards and mobile phones. But Visa is also expecting an increase in the number of contactless payment terminals in Europe to support this growth, from 853,000 currently to one million by the end of 2013. While contactless payments at the point-of-sale are more commonly conducted on NFC-enabled cards than mobile devices, this is encouraging more merchants to support NFC-enabled payment terminals, which will lead to more locations for consumers to make mobile POS payments as more NFC-enabled mobile devices hit the market.
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