THE ECONOMIC AND SOCIAL IMPACT OF ELECTRONIC PAYMENT ON THE DEVELOPMENT OF FINANCIAL MARKETS

Abstract

Based on a global sample of nations, this study examines the connection between economic growth and electronic payment systems. The study is pertinent given the significance of payment systems in financial transactions and the fact that there isn't much research on this rapidly developing field in the literature. The notion, types, and additional attributes of electronic payment systems are first discussed in the study, which then goes on to examine macroeconomic data from various nations worldwide. It can be assumed that this is a national issue because no hard data is available to support or refute the link between electronic payment systems and economic growth.