Visa Europe’s 282 million cardholders increased their total card numbers by 20 percent in 2004. Of Visa’s three card types, debit has experienced the strongest growth over the past two years. And as cash is displaced, Visa is advising its member banks to aim for debit cards to be used an average of 200 times annually, up from the current usage of 60 times annually.

To support future debit and prepaid card growth, Visa Europe is establishing a new platform that will authorize, clear and settle POS and ATM transactions originating in Europe.