26 September 2017
Find out more

E-payments behind quarter of Canadian GDP growth - Visa

12 September 2012  |  4441 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  |  5205 views  |  0 comments
Canadian competition watchdog targets Visa and MasterCard

Canadian competition watchdog targets Visa and MasterCard

16 December 2010  |  7842 views  |  0 comments | 1 tweets
Canada dumps paper cash for plastic

Canada dumps paper cash for plastic

08 March 2010  |  12100 views  |  0 comments | 1 tweets

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.vasco.comvisit www.abe-eba.euvisit www.sibos.com

Top topics

Most viewed Most shared
AXA launches blockchain to cover late flight compensationAXA launches blockchain to cover late flig...
11808 views comments | 16 tweets | 30 linkedin
European Commission makes fintech a priority in supervisory shakeupEuropean Commission makes fintech a priori...
8704 views comments | 34 tweets | 46 linkedin
hands typing furiouslyBlockchain is a new way of thinking?
7378 views 2 | 10 tweets | 1 linkedin
Sophia the humanoid gets UBS conference speaking gigSophia the humanoid gets UBS conference sp...
7131 views comments | 16 tweets | 19 linkedin

Featured job

Competitive base + commission + benefits
Denmark, Finland, Iceland, Norway or Sweden

Find your next job