Hasan, Iftekhar; De Renzis, Tania; Schmiedel, Heiko - European Central Bank - 2013
This paper examines the fundamental relationship between retail payments and the real economy. Using data from across … stimulates the overall economy, consumption and trade. Among different payment instruments, this relationship is strongest for … for whole economy. Additionally, the findings reveal that the impact of retail payments on the real economy is more …