New data from Visa shows consumers are spending more online than ever before. eCommerce sales on the Visa network have surpassed $1 billion a day for 188 days in the first nine months of the year, demonstrating that billion-dollar eCommerce days have become the norm rather than the exception.
The data coincides with a recent Visa survey – The Way We Pay: e- and mCommerce Trends – showing 27% of smartphone users and 24% of tablet owners have used their mobile device to make a purchase in the past 12 months. That growth in mobile shopping is continuing to help drive online sales, pushing Visa to process 16% more online transactions in the first nine months of 2013, compared to the same period last year.
The continued, dramatic growth in online sales means routing millions of transactions per hour through the world’s largest retail payments processing network, VisaNet. The network already handles 48% of global eCommerce transactions** and is prepared to handle another busy holiday season in the months ahead.
Other key findings from The Way We Pay are available in full here.