Online payments play a critical role in the continued growth and development of the European economy. They harness the internet’s potential as a trade platform, stimulating competition and economic growth. The industry operates behind the scenes to allow trade to occur conveniently and efficiently over the internet.
Deloitte conducted a new study, commissioned by PayPal to assess the economic impact of online payments across the EU27 and found that the economic impact of online payment is estimated to contribute €125 billion to GDP in 2012.
Through their catalyst role in enabling online retail, they drive incremental sales, support the expansion of cross border trade, assist small and medium enterprises to enter the market, enable economic impact through the direct, indirect and induced contribution of industry players, and drive wider economic benefits including supply chain efficiencies, increased investment in associated infrastructure and the creation of valuable price, transactional and customer behaviour data.
The economic impact of online payments (PDF, 1.87 MB)