Visa to pour EUR100m on e-commerce

Visa Europe has said it will invest 100 million euros a year into mobile and e-commerce payments and expects to see “commercial launches of mobile payments” before the end of 2011, reports Mobile Europe.

According to the Silicon Republic, Peter Ayliffe, Visa Europe CEO, said the company is witnessing strong double-digit growth in the usage of Visa cards throughout Europe, particularly with debit.

The popularity of Visa cards' growth will continue to rise over the next few years as electronic payments displaces cash. During this time, the company expects to see the emergence of contact-less and mobile payments, and even further growth in e-commerce.

According to Ayliffe, Visa Europe has spent approximately 1 billion euros on payment technology since its creation in 2004, which it has used to build the continent's transaction-processing infrastructure, reveals NFC News.