Visa predicts that consumers will complete 52 billion mobile payments per month across Europe by the end of 2013.
“By 2020, half our volume in Europe will be generated by mobile phones,” says Visa’s top cat of mobile business, Sandra Alzetta. She expects NFC smartphones from Samsung and others will come pre-installed with Visa’s mobile PayWave and Mobile Wallet services, driving exponential growth in mobile payments.
By the end of this year Visa will have over 80 devices running Visa PayWave. Visa expects to see at least 52 billion contactless payments occur per month by the end of the year – a 425% increase over the 147 billion contactless transactions completed in 2012.
Supporting the increase is the growth in the number of contactless terminals in Europe from 853,000 to one million by the end of 2013.
Visa PayWave was launched at the London 2012 Olympics, integrated into Samsung’s Galaxy S3 smart phone.