Visa Europe announced results for 2011 as well as its outlook for 2012, including its assessment of the mobile payment market for the new year. Overall, the company, which is owned and operated by its 3,700 member banks and is independent of Visa Inc., said it expects to see double digit growth this year. Visa Europe said €1 in every €7 spent in Europe will be made using Visa card.

Visa Europe said total spend on Visa cards in 2011 totaled €1.16 trillion, an increase of 14 percent over 2010. Nearly 80 percent of that amount was made using debit cards, the company said.

Along with strong overall growth, Visa Europe said it expects to see the first launches of mobile phones enabled to make purchase at the point of sale in Europe during 2012. Noting its strategic investment in mobile financial services company Monitise in 2011, Visa Europe said its own digital wallet services will be launched in the latter half of the year.

Calling new mobile services a key part of its future strategy, Visa Europe said it expects half of all Visa transactions in Europe will be on a mobile device by 2020.

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