Electronic payments stimulate economic growth: Visa study

MUMBAI, FEB. 20:  

The growth in the use of electronic payment products added $1.5 billion to India’s GDP in last five years, as per a study conducted for Visa by Moody’s Analytics.

The electronic payment products, such as credit and debit cards usage, contributed 0.2 per cent of the global Gross Domestic Product (GDP) from 2008-2012, as per the study done across 56 countries (including India) that represent 93 per cent of global GDP.

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