Every day, billions of dollars are exchanged between individuals, often across large distances. Whether it’s repaying a loan from a friend, sending pocket money to a child studying abroad, or moving money between your own accounts – person to person payments have become a part of everyday life.
In the past, one would have had to go through the hassle of filling out a complicated form or going to an agent to transfer money. What if you could send money easily online, or even through your mobile phone – without having to manage cash, fill forms or complete the transaction in-person?
This is now a reality for many people, simply by sending the payment to a Visa account. Over the Internet, through a mobile device or via physical self-service kiosks, consumers in 18 countries in Asia Pacific, Central Europe, Middle East and Africa are regularly making near-instant personal payments of varying amounts directly to Visa cards.
Today, 200 million consumers in 18 countries around the region can access simple and fast person-to-person payment services based on the Visa Personal Payments platform. Consumers are responding positively too: we’ve seen 89 per cent growth in transactions across the region between September 2011 and September 2012. Of these, about 10 per cent now originate from mobile devices – signaling a significant uptake for mobile-based payments.
With increasing numbers of people making use of the security and convenience provided by this platform, we hope to see this trend continue well into the future.
For more information, see our previous post or click here to read more about innovation at Visa.
Posted by: Visa Corporate Relations Team on October 9, 2012 at 9:14 am