MasterCard issues paper on electronic payments
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- January
- 12
Many economists worry that a society addicted to debt, including consumers who charge too much to their credit cards, is a big reason that the United States may be mired in the worst recession since the Great Depression. A consumer debt hangover could delay any recovery.
But MasterCard Inc., the second largest credit and debit card brand, said that are enormous benefits from a system of electronic commerce in which transactions can occur within seconds around the world.The Purchase-basde company said it has released a paper that “dispels misperceptions about payment systems and explains the tremendous economic value that electronic payments bring to the economy.”
The paper is available at www.mastercard.com/us/company/en/ourcompany/interchange.html. “Perhaps the easiest way to grasp the value of electronic payments is to envision a world without them. Clearly, if electronic payments came to a sudden halt, many facets of commerce – travel, trade and the Internet just to name a few – would face dire consequences,” MasterCard CEO Robert W. Selander said in an introduction to the paper.
This entry was posted
on Monday, January 12th, 2009 at 4:49 pm by Jay Loomis.
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