Thread: 10% growth for Visa in Europe

It's still booming across the pond!

Use of credit cards and debit cards are remaining flat in the United States last year but in Europe Visa saw a 10.3% increase during that same time. The number of transactions went up 11% and the number of credit cards increased by 1.5% and debit cards increased by 7.1%

FT.com / Companies / Financial Services - Visa Europe sees spending rise

It doesn't look like increased spending so much as a switch over from cash to card payments.

Europe has more growth because there are more markets to grow there. The region is made up of Westernized areas (which moved to card payments when the US did) and then the more developing areas (which are still cash based and currently transitioning cards).

That is why if you look at all of Europe as a whole you are seeing higher growth. I'm sure in the Westernized countries growth is slower, and in the developing countries, it's higher. That's why it's unfair to base it on an entire region.

Credit cards use will only go up! It's 2009 not 1909. Electronic card payments are the most convenient and safest way to spend and if you think everyone is using cards now wait and see in 10 years how many people use them!

Originally Posted by debitcard guru

I know this is an old post. I just recently read debit card and cash use is up worldwide. In U.S. Visa claims debit usage has surpassed credit card use.

Makes sense. I know I have been using my debit card more in '09. It's a good tool to monitor your spending since you only spend what you have.