Cards drive increase in non-cash payments worldwide

PARIS (9/15/09)--Non-cash payments grew 8.6% to 250 billion transactions in 2007 compared with the previous year, according to the World Payments Report 2009.

The use of cards is the single strongest driver for the growth, with global card transactions--credit and debit--growing 14.5% in 2007 and 11.2% in 2008. Markets are dominated by the U.S. and Europe, which account for 61% of the transactions. Developing economies continue to grow steadily, the report said.

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Courtesy of cuna.org