Mega Monday: European shoppers set to make online history with
10 million transactions in a day
- Visa Europe predicts that €565 million will be spent
online as transactions top 10 million, making 10th December the
busiest online shopping day ever across Europe
- Almost 7,000 transactions set to take place every
minute on Visa cards
- Transaction volumes expected to rise 20%
year-on-year
London, 26 November 2012 - Monday 10th December
is set to be the busiest day ever for online shopping across
Europe, according to analysis by Visa Europe, who predict that 10
million transactions will take place on Mega Monday. The payments
technology company expects more than €565 million to be spent
online by consumers with their Visa cards, the majority (80%) of
which will be spent on debit cards.
Shoppers will spend an average of almost €400,000 every minute,
with transactions forecast to peak between the hours of 20.00 and
21.00 GMT.
Visa Europe’s processing platform is predicted to handle around
7,000 transactions every minute as consumers across Europe seek out
this Christmas’ must-have presents and attempt to benefit from
online bargains and beat the Christmas shopping crowds.
Dr Steve Perry, Commercial Director at Visa Europe, said: "On
Mega Monday this year we are predicting a 20% rise on 2011 and for
the first time we expect to process 10 million online transactions
across Europe in a single day. We are seeing consumers increasingly
turn to the internet to make purchases and this reflects the
confidence that shoppers feel about the security of using their
Visa cards for online transactions, particularly where they've been
Verified by Visa. The volume of transactions we process on a daily
basis, as well as our historical trend data, provide us with an
incredible insight into consumer spending patterns."
The busiest high-street shopping day often falls two days before
Christmas Day. The weekend of 22nd -23rd December will be a key
time for many consumers to make last minute purchases, with Visa
Europe predicting Saturday 22 December to be the busiest day for
shopping on the high-street across Europe.
Visa bases its predictions on up to the minute spending data and
previous years’ Christmas spending trends. Over €1 in every €7
spent in Europe is on a Visa card, making this data one of the most
reliable indicators of trends in consumer spending.
Visa Europe’s top tips for safe shopping online
To ensure consumers are always protected when shopping online,
Visa Europe provides the following tips:
- Use the latest version of your browser's software and check to
be sure your computer's operating system software is up to
date.
- Shop with retailers you know about, or research them first to
ensure they are reputable and reliable.
- Make sure that your card details will be encrypted
securely before being sent across the internet – look for
an unbroken key or lock at the bottom of your browser window or
check the website address, which should begin https:// rather than
http://
- Keep a record of your internet transactions,
including the retailer's website address. Many online stores send
customers e-mails summarising the purchase details – make sure you
save or print these.
- Before buying, read the delivery and return
policies that should be on the retailer’s website. Can
unsatisfactory items be sent back? If the items are faulty, can you
get a refund or a credit note?
- The retailer’s website should also have information about
delivery arrangements and costs, currencies they
accept and taxes that apply.
- Look for a telephone number or e-mail address
and note them down in case you have any queries.
About Visa Europe
In Europe, there are 460 million Visa debit, credit and
commercial cards. In the 12 months ending June 2012 those cards
were used to make purchases and cash withdrawals to the value of
€1.8 trillion. 14% of consumer spending at the point of sale in
Europe is with a Visa card, and almost 80% of that is on Visa debit
cards.
Visa Europe is independent of global Visa Inc., with an
exclusive, irrevocable and perpetual licence in Europe, while both
companies operate to ensure global interoperability. As a dedicated
European payment system Visa Europe is able to respond quickly to
the specific market needs of European banks and their customers -
cardholders and retailers - and to meet the European Commission’s
objective to create a true internal market for payments.
Visa enjoys unsurpassed acceptance around the world. In
addition, Visa/PLUS is one of the world’s largest global ATM
networks, offering cash access in local currency in over 200
countries.
For more information, visit http://www.visaeurope.com/