The creation of the European single economic market led to an unprecedented increase in economic activity between firms and individuals across the European Economic Area (EEA). This necessitated the development of a payment services and processing infrastructure to match the increasing activity...

This paper examines the fundamental relationship between retail payments and overall economic growth. Using data from across 27 European markets over the period 1995–2009, the results confirm that migration to efficient electronic retail payments stimulates overall economic growth, consumption...