Payment Solutions for Modernising Economies

Moving from cash to electronic debit and prepaid payments accelerates economies. It is like going from walking to riding a bicycle. Adding credit is like adding gears to the bicycle," said Christopher Rodrigues, president and CEO, Visa International. "Electronic payment systems have transformed our lives and boosted the global economy by giving nearly a billion consumers a fast, efficient and safe way to pay for goods and services. Now, as governments and enterprises extend the reach of electronic payments, we see rapid continued growth toward two billion electronic payment users, worldwide."

Dr. Mohan Kaul, chief executive of the Commonwealth Business Council, noted, "This paper provides an important resource to help raise awareness and understanding in the area of electronic payments, particularly for emerging markets that are embracing leapfrog technologies to drive growth. It provides an effective overview of real challenges and practical advice."