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Point of sale spending on Visa Europe's cards rose by 10.3 per cent during the 2008 financial year, the firm has reported.

The company highlighted innovative technological advances as being a driver for its growth, explaining e-commerce proved to be particularly effective over the festive period.

It said online transactions were up just under a quarter (24 per cent) on December 2007.

Chief executive at the credit card provider Peter Ayliffe said the continued success of the firm, especially during the current economic climate, is demonstrative of the service quality it provides.

He noted that many consumers view card transactions as being both more convenient and safer than their cash-based counterparts.

Mr Ayliffe concluded: "The sophistication of our European processing platform can be seen by the ease with which it dealt with the busiest shopping day before Christmas, when it was processing 731 transactions every second."

In other news, Barclaycard recently announced its intention to include contactless technology into some of its cards over the course of 2009.

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Credit Cards	0% Balance Transfers	0% Purchases	APR Representative (Variable)
	Tesco ClubCard Credit Card
	9 months	15 months	16.9%
** 16.9% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.9% p.a(variable). **
	Virgin Credit Card
	20 months	3 months	16.8%
** 16.8% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.8% p.a(variable). **
	Barclaycard Platinum with BT
	22 months	3 months	17.5%
** 17.5% APR representative (variable). Based on a credit limit of 1200 and purchase rate 17.5% p.a(variable). **
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