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The site's average transaction value, determined based on its regulatory filings by dividing reported revenue by number of transactions, was about $40 in 2009.
This holds that the velocity (V) multiplied by the number of notes in circulation (M) should be equivalent to the average transaction value (P) multiplied by the number of transactions involving notes (T) – or MV = PT.
A big-name refusenik is John Lewis, which says it has no plans to go contactless at any of its 46 locations because the average transaction value at its department stores is above £30.
Customer traffic readings on a monthly basis have been solid, along with healthy gains in average transaction value.
IPayment has some 56,000 merchant locations, which average less than $250,000 a year in charge volume with an average transaction value of $75.
"If your average transaction value is 75 cents a month, Visa doesn't want to talk to you," says Russell Jones, general manager of Compaq's MilliCent.
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The data showed that "funeral services" was the number one location for credit card usage in 2013, based on the largest average transaction values.
The average contactless transaction value increased to £8.03 in November, from £7.72 in October.
For Saffronart's main auction events, which are 2-day auctions offering 100 or so works on sale, the average per-transaction value of artworks is between $40K and $100K.
According to FactSet Mergermetrics, in the last 12 months, the average termination fee was 3.36 percent of transaction value.
The average transaction price (156,005 €) is considerably lower than the appraisal value (195,214 €).
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