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Visa declares 1bn more touch-free visa payments made.

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Global Banking News-April 7, 2021-Visa declares 1bn more touch-free visa payments made

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Visa Inc (NYSE:V) on Wednesday revealed that it has processed 1bn additional touch-free payments, where consumers previously needed to enter their PIN, and that consumer confidence in contact less payments continues to grow.

Also, this milestone has been reached in under a year since contact less payment limits were increased in 29 countries in Europe and growth of contact less payments has been a key trend during the COVID-19 pandemic. There is a 40% or higher increase in such transactions in December 2020 versus the year before and touch-free payments have gone from being a convenience to a necessity.

Further, this demand for contact less transactions is over 80% of in-store Visa payments and in France and Germany, the number of such transactions has increased by two thirds and almost half, respectively, year-on-year. Therefore, of the 1bn transactions, 400m were in the UK and further growth is expected after the announcement that the...

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