Mega-Monday predictions show £1.3 billion to be spent online

The 2^nd of December, 2013 will be the biggest day for online shopping in the UK. According to Visa Europe, this coming Monday, known mainly as Cyber Monday and dubbed Mega Monday in the UK will transact a total £1.3 billion ($2.1 billion).

Visa Europe also stated that December 2nd will officially mark the beginning of the shopping season in the UK.

Visa data also mentions that 25% of all transactions made in the UK with a Visa card are done online showing the increasing place of internet purchases in the overall commerce.

"UK consumers' love affair with online shopping will reach its peak on Mega Monday when we predict that we will process 7.7 million Visa transactions - a 16% rise on last year," said Jeremy Nicholds, director of commercial development at Visa Europe.

The way online Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term are made in the UK is also changing. According to the UK's online retail association IMRG, the amount of transactions made from smartphones and tablets has risen as well.

In a press release from IMRG, the information provided shows the spending habits of online customers for one of UK’s top retailer website John Lewis. The numbers show an increase of 114% in mobile transactions from last year, and that 42% of all transactions are made via a mobile device.

“With shoppers becoming more comfortable when purchasing via mobiles and tablets, coupled with better Connectivity Connectivity Connectivity is defined as a term used for connecting devices to each other. In most cases, this refers to computer networking and more specifically includes bridges, routers, switches, gateways, and service as well as local networks. Connectivity can refer to simple forms, such as connecting a home or office to the internet or even connecting a digital camera to a computer or printer. Connectivity in FinanceConnectivity has taken on new meaning with the growth of fintech and Big Data collectio Connectivity is defined as a term used for connecting devices to each other. In most cases, this refers to computer networking and more specifically includes bridges, routers, switches, gateways, and service as well as local networks. Connectivity can refer to simple forms, such as connecting a home or office to the internet or even connecting a digital camera to a computer or printer. Connectivity in FinanceConnectivity has taken on new meaning with the growth of fintech and Big Data collectio Read this Term and the rise of smartphones so people can browse online through the day, it’s not surprising the way we shop has changed,” said Mark Lewis, online director at John Lewis.

The impressive increase in mobile sales has made IMRG alter their predictions for this holiday season, and they now show an estimated 15% increase as opposed to the initial 12%.