Transcription of ANALYSIS The Impact of Electronic Payments on Economic …
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ANALYSIS The Impact of Electronic Payments on Economic …
The Impact of Electronic Payments on Economic GrowthIntroduction Greater worldwide card use raises a number of questions. Foremost, do Electronic Payments bring macroeconomic benefits? Moody s Analytics attempted to answer this question by analyzing macroeconomic data for 70 countries/regions between 2011 and 2015. By calculating the Impact of card usage on per capita consumption, Moody s Analytics was able to extrapolate the effect that the increase in spending on goods and services had on consumption and thereby GDP. Specifically, Moody s Analytics estimated that higher card usage contributed an additional $296 billion to consumption between 2011 and 2015, or a cumulative increase in global GDP during the sample time period.
GDP during the sample time period. That equals about a $7 4 billion contribution to GDP each year. Real consumption grew at an average of 2.3% in the same period, of which 0.01 percentage point is attributable to increased card penetration. This implies that card usage
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