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Quarter of Visa transactions via online

A quarter of all Visa transactions were made online in the year to last September, as the number of retailers using the credit card company’s “digital wallet” reached 4,000 during its launch year.

Customers racked up £110bn at UK merchants in the year to September 2013, equating to £3,488 being spent online every second with a Visa card. This is up 18% on the year before.

Visa said 4,000 UK retailers had signed up to offer V.me by Visa, Visa’s digital wallet, which allows shoppers to enter their personal details and card information just once then just use a username and password to shop online across participating retailers.

Overall spend through UK Visa credit, debit, commercial and prepaid cards rose 9.2% to £445bn.

Visa said contactless transactions in the UK grew four-fold annually during the period, with 30.3 million contactless cards now in circulation.

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