Visa: eCommerce, Contactless Payments, & Tokenization

Visa, Inc.’s fiscal Q1 reveals that cross-border volumes have grown, and contactless payments are making progress in the UK, and beyond. To learn more about the topic and get help with chargeback insurance providers, just keep on reading this post.

Contactless Payments & Chargeback Insurance Providers

During 2015-2019, contactless payments made huge advances. In June 2019, the UK witnessed 761 million contactless transactions. London represents the centre of contactless payments in the country.

Visa Inc. increased its success in advanced online payments, tokenization, and contactless transactions last year. Visa CEO Al Kelly says that the company’s 1/3 CP (card-present) transactions worldwide are contactless. A year ago, that number was 1/4.

In fact, the network’s payment volume rose by 8% YoY (year-over-year) to $2.3 trillion. What about your eCommerce business in the UK? Are you offering the right payment-processing options to your customers? In case you need help in this regard, just work with a respectable processor-comparison company in the country.

Make sure the comparison company pays special attention to the snapshot of credit-card processors it provides. No matter you’re interested in chargeback insurance providers or other merchant services, a true payments-comparison expert can help you enjoy an unmatched deal for your business.

Visa Inc. in Today’s World of Payment Transactions

Visa reports that the company goes on gaining ground worldwide on securing the ecosystem with tokens. Now, the payments giant boasts more than 750 million tokens all around the globe. Besides:

  • The revenues of its international transactions grew by 9% to $2 trillion
  • Total cards rose by 1%
  • Processed transactions still witnessed a YoY-growth pace at 11% to account for 37.8 billion transactions

As Kelly notes, in the CP space, there’s meaningful momentum in ‘tap to pay’. The company views this as the most friction-free method for making in-person payments.

To wrap things up, merchants need to be more focused on using alternative-payment methods. Alternative-payment options such as e-wallets, mobile, and net-banking solutions are currently more popular than cards and cash, and other traditional methods fo9r making payments. The growth of online transactions results in increased chargebacks and fraud. Thankfully, there’re true payment specialists that can help you overcome these challenges with ease.

Author Bio: Payment industry guru Taylor Cole is a passionate payments expert who understands the complex world of merchant accounts and chargeback insurance providers. He also writes non-fiction, on subjects ranging from personal finance to stocks to cryptopay. He enjoys eating pie in his backyard porch, as should all right-thinking people.

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