E-payments make our economy more efficient

Wed, Jun 19, 2013: A recent study for Visa by Moody’s Analytics reveals that the growth in the use of electronic payment (e-payment) products such as credit and debit cards makes the global economy more efficient and brings positive boost to the global gross domestic product (GDP).

The study examined the contribution of e-payment to the GDP among 56 countries including Malaysia between 2008 and 2012. For Malaysia, the study shows growing card usage has added RM13.17 billion or 0.49 per cent to Malaysia’s GDP.