Growth of US remote payments outpaces in-person transactions
Remote transactions grew faster in volume and value than in-person payments in 2016
Remote payments are growing faster than in-person transactions in the US, according to the Federal Reserve Payments Study.
Between 2015 and 2016, remote general-purpose credit card payments increased by 16.6% in volume and 9.6% in value, while in-person payments grew by 7.9% and 4.1%, respectively. For prepaid card payments, remote transactions accounted for almost all of the growth – by 12.3% in volume and 3.9% in value.
“We need to take into consideration that as remote payments grow, they
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