24 September 2016

E-payments behind quarter of Canadian GDP growth - Visa

12 September 2012  |  4096 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)

Finextra news in your inbox

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

Related stories

Canada opens inquisition into card fees

Canada opens inquisition into card fees

09 May 2012  |  4913 views  |  0 comments
Canadian competition watchdog targets Visa and MasterCard

Canadian competition watchdog targets Visa and MasterCard

16 December 2010  |  7583 views  |  0 comments | 1 tweets
Canada dumps paper cash for plastic

Canada dumps paper cash for plastic

08 March 2010  |  9069 views  |  0 comments | 1 tweets

Related company news

 

Related blogs

Create a blog about this story (membership required)
Find out moreVisit www.abe-eba.euVisit i2cinc.com

Top topics

Most viewed Most shared
Co-habitation with banks key to fintech futureCo-habitation with banks key to fintech fu...
13216 views comments | 34 tweets | 34 linkedin
hands typing furiouslyGoogle's Larry Page buys a 'major global b...
12601 views 0 | 31 tweets | 25 linkedin
RBS tests demonstrate ability of Ethereum to support a national domestic payments systemRBS tests demonstrate ability of Ethereum...
9337 views comments | 41 tweets | 27 linkedin
Banks test blockchain for reference data managementBanks test blockchain for reference data m...
8057 views comments | 16 tweets | 24 linkedin
Deutsche Bank teams up with accelerator to back fintech startupsDeutsche Bank teams up with accelerator to...
6958 views comments | 12 tweets | 5 linkedin

Featured job

Find your next job