Visa UK has appointed the Red Consultancy on six-figure fees to
raise awareness of on-line security.
Red was appointed after a three-way pitch, which included Cohn and Wolfe
and Larkspur. The account will be headed by Andrew Baiden, board
director, who reports to Chris McLaughlin, senior vice-president of
’Promoting on-line security is a major priority for Visa. We are
determined to retain the high level of consumer and merchant confidence
in our brand,’ said McLaughlin.
The brief is to raise awareness of Visa’s majority market share of
e-tail payments, as well as its leading role in developing security
solutions for the on-line payment environment.
Lesley Brend, managing director of the Red Consultancy, said: ’Visa is
the pioneering payments brand of the old economy - our brief is to
ensure it maintains that leadership position in the new e-conomy.’
She added that recent research had indicated security remains the single
biggest barrier to buying on-line. ’The campaign will aim to increase
consumer and merchant confidence across all e-tailing channels,’ she
Visa estimates that by 2003 consumers will be spending over pounds 110
billion on on-line purchases - the current level is just over pounds 9
billion. It predicts that by 2004, worldwide internet sales will account
for ten per cent of all Visa transactions.
The credit card company’s research indicates that one third of on-line
shoppers have not paid over the internet specifically due to worries
about the safety of their transaction.
But security fears have not prevented British shoppers from spending
pounds 240 million on-line last year - mostly paying for their purchases
with payment cards.
Visa is the most popular payment method on the internet and is used in
some 52 per cent of all consumer internet transactions.