The Strawhecker Group (TSG) in conjunction with the Electronic Transactions Association (ETA), for the benefit of TRANSACT 15 attendees, have released a new infographic titled The Comeback of Consumer Spending.
Highlights of the infographic include:
• Key economic indicators such as consumer confidence, GDP, and unemployment have all seen positive performance in 2014 and Q1 2015
• Electronic payments are a big reason why the economy continues to improve – almost 70% of GDP is driven by consumer spending, and 70% of consumer spending is electronic (not cash/check)
• TSG’s database of 2.7M merchants, which represents 6.5B credit/debit transactions, shows that both restaurants and retail establishments compose 23% of consumer spending with credit/debit