Visa reveals UK ‘s appetite for e-commerce
With GBP 3,170 worth of internet Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl met by Visa every second, UK consumers are Visa’s number one online spenders.
According to Visa Europe, UK shoppers are the international forerunners in safe online shopping. In addition to this, British e-commerce businesses are said to be attracting many overseas shoppers with around £16 billion in e-commerce purchases accredited to non-British consumers (half of which are not from the EU). Customers from the USA are the top non-domestic spenders followed by Italy, France, Germany and Japan.
2013 online Visa spending is expected to amount to more than double the 2009 spend of GBP 50 billion, which was already exceeded halfway through this year.
According to Marc O’Brien, Managing Director at Visa UK: “In just four years we have seen online spending at UK clothing merchants with Visa nearly double in growth from GBP1 in £7 in 2009, to GBP1 in GBP4 in 2013. In fact, online spending with Visa is now at an unprecedented scale across all sectors including airlines, supermarkets and services, indicative of the ever increasing preference to make purchases online, largely fuelled by the explosion in smartphones and tablets.”
With GBP 3,170 worth of internet Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl met by Visa every second, UK consumers are Visa’s number one online spenders.
According to Visa Europe, UK shoppers are the international forerunners in safe online shopping. In addition to this, British e-commerce businesses are said to be attracting many overseas shoppers with around £16 billion in e-commerce purchases accredited to non-British consumers (half of which are not from the EU). Customers from the USA are the top non-domestic spenders followed by Italy, France, Germany and Japan.
2013 online Visa spending is expected to amount to more than double the 2009 spend of GBP 50 billion, which was already exceeded halfway through this year.
According to Marc O’Brien, Managing Director at Visa UK: “In just four years we have seen online spending at UK clothing merchants with Visa nearly double in growth from GBP1 in £7 in 2009, to GBP1 in GBP4 in 2013. In fact, online spending with Visa is now at an unprecedented scale across all sectors including airlines, supermarkets and services, indicative of the ever increasing preference to make purchases online, largely fuelled by the explosion in smartphones and tablets.”