Browse Tag

Migration to Electronic Payments Added Nearly $300B to GDP Across 70 Countries

Migration to Electronic Payments Added Nearly $300B to GDP Across 70 Countries, Study

4 mins read

The FINANCIAL -- The Visa-commissioned study found that increased use of electronic payment products, including credit, debit and prepaid cards, added US$296B to GDP, while raising household consumption of goods and services by an average of 0.18 percent per year. In addition, Moody’s economists estimate that the equivalent to 2.6 million new jobs were created on average, annually, over the five-year period as a result of increased use of electronic payments. The 70 countries in the study make up almost 95 percent of global GDP.…

Read More »
Countries with the largest increases in card usage experienced the biggest contributions in growth.

Migration to Electronic Payments Added Nearly $300B to GDP Across 70 Countries, Study

4 mins read

The FINANCIAL -- The Visa-commissioned study found that increased use of electronic payment products, including credit, debit and prepaid cards, added US$296B to GDP, while raising household consumption of goods and services by an average of 0.18 percent per year. In addition, Moody’s economists estimate that the equivalent to 2.6 million new jobs were created on…