Visa’s e-commerce transaction volume grows 59% year-to-year January-May

Despite the growth of alternative payment methods for online retail commerce like e-checks and invoices, online purchasers continue to use payment cards in growing amounts for e-commerce transactions, Visa reports.

Purchasers spent $37.6 billion on Visa credit and debit cards for online purchases January through May of this year, up 59% from $23.7 billion during the same period a year ago, Visa says.

The pace slowed a bit in May but remained strong. Purchasers spent $7.7 billion on credit and debit cards in May, up 50% from $5.1 billion in May 2003, Visa says. Visa notes that its e-commerce figures cover all online transactions, including travel sales and online payments of utility bills.