Visa Europe customers are expected to spend £450m online on 2 December 2013, which equates to £312,500 being spent per minute or £5,208 per second online.
Visa Europe said it expects to process approximately 7.7 million transactions on the first Monday in December -dubbed as ‘Mega Monday’- a 16% rise on last year.
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Visa said that it accounted for over £1 in every £3 spent in the UK, suggesting a grand Mega Monday total of £1.3 billion spent online.
The weekend of 21-22 December 2013 will be a key time for many consumers to make last minute purchases and predicted Saturday 21 December to be the busiest day for shopping on the high-street, Visa added.
However, Visa predicted the busiest hour to be between 12.00 and 13.00 on Christmas Eve.
Visa Europe commercial development director, Jeremy Nicholds, said: “Online shopping now accounts for more than 25% of spend with Visa in the UK, signifying the confidence that consumers have in the security of online payments and in the delivery of goods.
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By GlobalData“With an average of £312,500 expected to be spent online every minute on 2nd December, the Christmas shopping season will certainly start with a bang!”
