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Today is set to be the busiest ever day for online shopping across Europe, according to analysis by Visa Europe

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2011-11-28 12:34

Today is set to be the busiest ever day for online shopping across Europe, according to analysis by Visa Europe. The payments technology company expects more than €510 million to be spent online by consumers with their Visa cards, the majority (80%) of which will be spent on debit cards, said Visa in a press release.rnrnShoppers will spend an average of €350,000 every minute, with transactions forecast to peak in the lunch hour between 13:00 and 14:00. A second peak is expected around 19:00 as shoppers log on after returning home from work. rnrnVisa Europe’s processing platform is predicted to handle almost 7 million transactions across Europe during Mega Monday alone or 4,800 every minute as consumers increasingly turn to the internet for their Christmas shopping. rnrnDr Steve Perry, Commercial Director at Visa Europe, said: rn“We predict that more than €510 million will be spent online on Visa cards during Mega Monday across Europe, an increase of 14% on 2010. Online shopping accounts for a fifth of all spend on Visa cards and the volume of transactions we process on a daily basis as well as our historical trend data provide us with an incredible insight into consumer spending patterns.”rnrnThe busiest High Street shopping day often falls two days before Christmas day. Although Christmas Eve falls on a Saturday this year, Visa Europe still believes the busiest day will be Friday 23rd December, as shoppers make the most of the extended shopping hours and don’t risk leaving it too late before Christmas day. rnrnVisa bases its predictions on up to the minute spending data and previous years’ Christmas spending trends. Over €1 in every €8 spent in Europe is on a Visa card, making this data one of the most reliable indicators of trends in consumer spending. rnrnVisa Europe’s top tips for safe shopping onlinernrn- Take the time to do your research before making a purchase from a retailer you aren’t familiar withrnrn- Look for e-commerce retailers that use ‘Verified by Visa’ for added protection against card fraud online. ‘Verified by Visa’ ensures that both you and the retailer are genuine and protects your card twice when shopping onlinernrn- Make sure you either save or print a record of your internet transactions, including the retailer’s website addressrnrn- Before buying, read the delivery and return policies that should be on the retailer’s websiternrn- Check contact details for the website and make sure they have a contact telephone numberrnrn- If using a PC in a shared or public environment, always ensure that you log off so that no one can access your personal information rn

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