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Tuesday, March 27, 2012

Payment Processing Services

Payment Processing Services: "Electronic payments are defined as ones that are cleared over a card network (e.g. Visa or MasterCard) or through the ACH system. They do not include large-value funds transfer systems, which are not analyzed in this study. The number of e-payments grew 9.3% per year on average from 2006 to 2009. The ratio of electronic payments to overall non-cash transactions rose from 67.9% to 77.6% during the same period. The total amount of e-payments rose by 6.0% per year, growing from 45.1% of non-cash payments in 2006 to 56.3% in 2009"

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