-3.2 C
January 24, 2022

Local consumers use Visa cards more, for lower value, daily payments

The number of transactions on Visa cards at the merchants grew by over 27 pc in 2010, according to results released for Romania by Visa Europe yesterday, a press release informs. This growth now means that 1 in every 3 transactions on a Visa card was made at merchants, up from 2009, when only a quarter of transactions was made at the point of sales. Spend on Visa cards at merchants also registered a growth of 19 pc, marking in the same time a year on year increase in the share of consumer spending of 18 pc, indicating that more transactions out of the overall consumer transactions (including cash and other cards) were made with Visa cards.

“In the last few years, we can see that Romanians have accelerated their turn to cashless payments, becoming more sophisticated in their spending habits. They not only use their cards at merchants more often with a 27 pc increase versus last year, but also for tax payments. In the first three months in 2010, Romanians paid their taxes by card more than they have in the entire year of 2009, following our communication campaign”, says Catalin Cretu, general manager Visa Europe Romania. The trend of using the card for all types of smaller, regular payments is also represented by the trend in average POS transaction value, which has decreased by 6.7 pc to EUR 38.7. The number of Visa cards increased steadily by almost 3 pc, to a total amount of 6.56 million Visa cards in Romania. The largest part of the portfolio is represented by debit cards, more than 80 pc of all spend being debit transactions. (A. B.)

Related posts

Finance Ministry borrows RON 300 M through 4-year bonds

Nine O' Clock



Turkey’s Bosphorus tunnel opens sub-sea Asia link

Nine O' Clock