Visa Inc. (NYSE: V) today reported consumers kicked off the holiday shopping season with a bang, spending a record $5 billion online over the four day period, starting with Black Friday through CyberMonday. Consumers with U.S.-issued Visa cards drove an increase in eCommerce volume of 20 percent over the same period in 2011.
“CyberMonday was a true star this year, generating a record $2 billion purchase volume on Visa cards issued in the U.S., an increase of 21% over last year,” said Wayne Best, Chief Economist, Visa Inc. “Interestingly this holiday, we’re seeing a slight decrease in the average transaction amount, indicating that consumers are using the Internet for more than big ticket items, making multiple purchases at various price points.”
“With near-ubiquitous connectivity, mobile and social networks, consumers can now browse and shop using a host of devices, anytime and anywhere,” said Jennifer Schulz (@Jen_Schulz), global head of eCommerce, Visa Inc. “More than ever in an always-on commerce world, consumers want to save money, avoid crowds and simplify gift-buying. That’s why we launched V.me by Visa, allowing people to check out online with just a few clicks.”
About Visa Inc.Visa is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable digital currency. Underpinning digital currency is one of the world’s most advanced processing networks — VisaNet — that is capable of handling more than 24,000 transaction messages a second, with fraud protection for consumers and guaranteed payment for merchants. Visa is not a bank, and does not issue cards, extend credit or set rates and fees for consumers. Visa’s innovations, however, enable its financial institution customers to offer consumers more choices: Pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit www.corporate.visa.com. Source: MARS SpendTrack. U.S. Issued Visa Authorizations Only Click here for Visa’s 2012 Peak Season media kit: http://corporate.visa.com/newsroom/media-kits/peak-season-2012.shtml