Credit and Debit Card Use Adding Billions to Canada’s GDP
News from The Epoch Times:

By Justina Reichel
Epoch Times Staff
Created: February 8, 2013 Last Updated: February 8, 2013

People walk by a window sticker advertising Visa and MasterCard credit cards Feb. 25, 2008, in San Francisco, Calif. A new study found that the growth in the use of electronic payment products like credit and debit cards added US$ 9.7 billion to Canada’s GDP over the past four years. (Justin Sullivan/Getty Images)

Rarely use cash to pay for purchases? You may be helping to boost Canada’s GDP, a new study has found.

The growth in the use of electronic payment products, such as credit and debit cards, added US$ 9.7 billion to Canada’s gross domestic product (GDP) over the past four years, according to the study, conducted for Visa by Moody’s Analytics.

“We can see from the data that the positive impact in economic growth is a direct result of card usage and is tied to the benefits electronic payme…………… continues on The Epoch Times

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Related News:

Not safe to use cards in southeast Asia: Travel agents
News from Times of India:

CHENNAI: Credit cards may be the most convenient way to pay, but in some countries it is unsafe to use them. It is riskier to swipe cards in Sri Lanka, Thailand, Philippines, Malaysia, and Indonesia than in Europe, warn travel agents.

Many agents have an informal list of countries where it is risky to use credit cards because information can be stolen. Thieves often target tourists who buy electronic products, or visit pubs and clubs.

“We tell travellers not to use credit cards at clubs, pubs, casinos, department stores or small shops abroad. It is a risk to use ATM machines in Malaysia. There is no advisory available, but we get feedback from other agents,” said Basheer Ahmed of the Travel Agents’ Federation of India.

Reports suggest that top card issuing banks have been hit by a series of unauthorized transactions totaling Rs 30 crore by an international syndicate, which bankers believe steal information from retail outlets. Banks are on the look out for suspicious transactions and alert customers.

Soon after Imran Khan, a dealer of ceramic tiles, swiped his credit card to fill fuel for his car in Chennai, his bank called to tell that his card was used in Manila, Philippines, half an hour earlier to make a pu…………… continues on Times of India

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