Visa Reports Surge in Black Friday Transactions and Fraud Prevention

The bustling energy of Black Friday 2024 saw a notable uptick in consumer activity, with Visa reporting an 11% increase in transaction volumes compared to Black Friday 2023. This rise also marked a 16% growth over an average Friday and a 12% surge in spending across the Black Friday and Cyber Monday weekend. These figures highlight the significant jump in consumer participation during this period, emphasizing the enduring popularity of these major shopping events.

Supermarkets emerged as the top destination for Black Friday shoppers using Visa cards, accounting for a staggering 45% of all spending. Restaurants followed with 31%, while retail outlets rounded off the top three at 12%. These statistics reveal consumer preferences during the shopping frenzy, showcasing a broad spectrum of spending patterns. This also underscores the essential role that everyday necessities and dining out play during such high-volume shopping periods.

Parallel to the increase in transaction volumes, Visa’s network took significant steps to safeguard against potential fraud. Remarkably, the network blocked 410% more suspected fraudulent activities in the UK alone on Black Friday 2024 compared to the previous year. Over the entire Black Friday and Cyber Monday weekend, there was a 117% rise in fraud prevention measures instituted by Visa. The impressive increase in fraud detection reflects the company’s commitment to ensuring the safety and security of its users amidst heightened shopping activity.

Mandy Lamb, Managing Director of Visa UK & Ireland, highlighted the importance of maintaining vigilance against fraud in light of rising consumer spending. Her statement serves as a reminder to both consumers and businesses to stay alert and adopt proactive measures in safeguarding financial transactions. Visa’s intensified fraud prevention efforts illustrate that alongside catering to increased consumer demand, the company remains steadfast in its mission to provide secure and trustworthy transaction solutions.

Explore more

How Is Mastercard Shaping the Future of E-Commerce by 2030?

In an era where digital transactions are becoming the backbone of global trade, Mastercard stands as a pivotal force driving the evolution of e-commerce toward a transformative horizon by 2030. The rapid advancement of technology, coupled with shifting consumer behaviors and economic dynamics, is setting the stage for a future where billions of interconnected devices and autonomous agents could redefine

Browser Extensions for E-Commerce – Review

Setting the Stage for Digital Shopping Innovation Imagine a world where every online purchase is optimized for savings, personalized to individual preferences, and seamlessly integrated with real-time market insights—all at the click of a button. In 2025, browser extensions for e-commerce have made this vision a reality, transforming the way millions of consumers shop and how retailers strategize. These compact

AI in Banking – Review

Imagine a world where banking services are available at the touch of a button, any hour of the day, with transactions processed in mere seconds and fraud detected before it even happens. This is no longer a distant dream but a reality shaped by artificial intelligence (AI) in the banking sector. As digital transformation accelerates, AI has emerged as a

Snowflake’s Cortex AI Revolutionizes Financial Services

Diving into the intricate world of data privacy and web technology, we’re thrilled to chat with Nicholas Braiden, a seasoned FinTech expert and early adopter of blockchain technology. With a deep passion for the transformative power of financial technology, Nicholas has guided numerous startups in harnessing cutting-edge tools to innovate within the digital payment and lending space. Today, we’re shifting

Why Is Python the Go-To Language for Data Science?

What if a single tool could transform raw numbers into world-changing insights with just a few lines of code? In today’s data-driven landscape, Python has become that tool, powering everything from small business analytics to groundbreaking AI innovations at tech giants. This programming language, celebrated for its simplicity and strength, stands at the heart of data science—a field that shapes