As Novac writes on the 21st of October, 2020, the number of contactless Visa transactions made across the Republic of Croatia has increased by an encouraging 20 percent, primarily due to the ongoing coronavirus epidemic, and there has, as a result of the same, been a noticeable increase in e-commerce transactions of 40 percent when compared to 2019, as was announced yesterday from Visa.
According to published figures, Visa processed more than half a billion additional contactless payments across Europe, transactions with which until recently had to be authorised with the input of a PIN number.
The reason for the increase, it is explained, is the growth of the amount that can be paid without the need for a PIN authorisation, because the limits have been increased in more than 29 countries across Europe as a result of the coronavirus pandemic and the desire to avoid too much physical contact.
Visa is also noticing a growing demand for contactless payments throughout Europe, where more than 75 percent of payments via these cards are now contactless.
In some European countries, the share of contactless Visa transactions has more than doubled on an annual basis, and in many of the largest European countries, the share of contactless Visa transactions has increased by at least 20 percent in the past year.
Visa have pointed out that the possibility of digital payment in stores is no longer just a convenience, but a need for both consumers and merchants, and it enables shopping without any contact at payment terminals.
”The growing popularity of contactless Visa payments in Europe is not new – the pandemic has served to accelerate the existing trend, it’s just that now, contactless payments are no longer just a convenience, but a necessity.
As soon as the global coronavirus pandemic began, we immediately focused on working with our partners across Europe to raise contactless Visa payment limits and thus help consumers pay more easily and securely and reduce the need for them to have to enter their PIN,” said Renata Vujasinovic, the manager for Visa Croatia.
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