Visa POS transactions gained 30 percent in 2011

Transaction made with Visa cards increased by 30 percent at point of sales (POS) in the fiscal year that ended on September 30 2011. The overall growth in POS transactions for Romania was 20 percent.

The average transaction value on credit card was EUR 38, which is a decrease of 6.6 percent y/y, showing that cards are used for smaller and regular payments, while high value expenditure remains limited.

The number of Visa cards in Romania increased by 4.5 percent y/y to 6.85 million. Around 80 percent of Visa’s portfolio comprises of debit cards.

“The increased card demand was supported by the card business segment which didn’t go to large corporations, but to SMEs,” said Catalin Cretu, general manager Romania, Visa Europe.

Cretu added that transactions worth EUR 2.9 billion were made last year on business cards.   

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The number of Visa commercial cards increased by 19.4 percent y/y, while total expenditure in this segment gained 50 percent.

Visa is constantly supporting tax payments by card and the first results are starting to come up. The volume of taxes paid by cards doubled to EUR 18 million by end-November 2011, at there are currently 145 municipalities that accept card payments.  

This year Visa wants to implement new technologies for its Romanian operations.

“We are sure that in 2012, the contactless card will gain track in Romania. Moreover, 3 banks have already starting issuing this card since 2011,” said the GM.

Visa also wants to implement Mobile NFC (near filed communication) and Person-to-Person payment that will be useful for the 3 million Romanians working abroad, offering them the change to send remittances at low cost.  

Visa Europe reported revenues over EUR 1 billion in 2011. Its capital reserves rose to EUR 738 million.

Ovidiu Posirca