Despite all the sympathy for cash for many, the future of paying is digital: Visa, the global payment giant, reports in 2024 in Austria in 2024. Consumers are increasingly using the map in the supermarket, in the online store, in the restaurant or even skiing.
Despite their wish that the money must be saved, the Austrians have digital payment fever: the number of payment transactions with visa cards increased by no less than 10%last year, the payment volume increased by 8%. “In Austria we essentially reflect international development and our global growth in visa,” explains Stefanie Ahammer, country manager from Visa in Austria. “Digitization in payments is constantly progressing.
Debit cards at great heights: Doupling thanks to fintech innovations
The number of visa cards in Austria has risen by 12% – a record! Visa ATM cards in particular are increasing quickly: their number has more than doubled. “On the one hand, this is based on our good cooperation with partners such as Raiffeisen, Wüstenrot and Bitpanda, but is also driven by foreign online banks and fintechs that score with innovative offers,” says Ahammer.
Map payment becomes standard: 30 % more acceptance points
According to surveys, every fourth in Austria lacks the possibility to pay per card, especially in small stores. More and more stores are responding to the high demand from customers, including small stores, and accept map payment. The number of visa-in-switched payment terminals has increased by 30% since 2022. “Our investments in acceptance on the dealer side have been paid off,” says Ahammer.
“Especially for small and medium-sized companies, digital payments can be a sales driver,” sees the Visa boss benefits for dealers, restaurant owners and Co. After all, the use of payment technology for companies is simple: “It has never been so easy to accept card payments. Because today it is not necessary to accept terminals or special end equipment. The app on the smartphone is sufficient!”
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
