Consumers in Europe did 19 million transactions with Visa-branded contactless bank cards in March, up by nearly 50% from December, announced Visa Europe Tuesday, which predicts monthly transactions will increase to 52 million by the end of 2013.
Visa noted there are now 58 million contactless cards running its payWave contactless application in Europe and 797,000 point-of-sale terminals that accept it, led by such countries as the UK, Poland and Spain. All or nearly all of the terminals also accept MasterCard PayPass.
Both payment schemes are promoting the rollout of contactless in Europe and elsewhere as they seek to capture more transactions from cash and jump-start mobile NFC payment. Both Visa and MasterCard are believed to have been subsidizing terminals for some merchants, and perhaps covering some other costs, as well, especially in such countries as Poland.