07 July 2015

E-payments behind quarter of Canadian GDP growth - Visa

12 September 2012  |  3658 views  |  0 Fingers on Tablet computer, calculating

Electronic payments have driven almost one quarter - or C$196 billion - of total Canadian GDP growth over the past 25 years, claims a study commissioned by Visa.

According to the report, carried out by information and analytics specialist IHS, Canada has been at the forefront of the global migration to electronic payments from cash and cheques.

The growth in e-payments has been largely driven by credit and debit card transactions, which saw their value grow by more than a quarter between 2006 to 2010, from C$363.4 billion to C$455.4 billion.

This surge has also contributed to a C$107 billion in personal consumption spending.

Shane Norton, director, consulting services, IHS, says: "Consumers are speaking with their wallets and they prefer electronic payments over inefficient cash and cheques. Notably, the increase we've measured in consumer consumption mirrors the growing popularity of electronic payments."

Read the full paper:

» Download the document now 3.2 mb (PDF File)

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

09 May, 2012
29 March, 2012
16 December, 2010
08 March, 2010

Related company news

 


Your browser is unable to support Flash files.

Top topics

Most viewed Most shared
Singapore pledges S$225m to fintech
9590 views comments | 34 tweets | 24 linkedin
US banks pump $16.6bn into digital transfo...
8239 views comments | 39 tweets | 27 linkedin
Fintech leads the charge as VC investment...
6402 views comments | 33 tweets | 17 linkedin
Mobile banking biometrics gains traction
6306 views comments | 27 tweets | 25 linkedin
Nordea sets up fintech accelerator
5390 views comments | 20 tweets | 12 linkedin

Featured job

to $120K base + bonus
New York City, NY (USA)

Find your next job