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Mobile payments the way to grow
February 5, 2010
Mobile telephone penetration has been more than 200 per cent in recent times.
The credit card system is the lifeblood of a developed economy, said Trevor Stokes, Executive Director of the Bahrain Economic Development Board, while addressing the World Cards and Payments Summit 2010 in Dubai this week. While it has been weakened by the economic crisis, it encourages economic activity, he said.
About 78 per cent of American households, or about 91.1 million, had one or more credit cards at the end of 2008. A year earlier, there were 90.4 million households with cards, according to Nilson Report issued in April 2009.
However, credit cards could be a solution or a problem to consumers as they could push consumers into a debt trap.
Original Posting At: GulfNews
The credit card system is the lifeblood of a developed economy, said Trevor Stokes, Executive Director of the Bahrain Economic Development Board, while addressing the World Cards and Payments Summit 2010 in Dubai this week. While it has been weakened by the economic crisis, it encourages economic activity, he said.
About 78 per cent of American households, or about 91.1 million, had one or more credit cards at the end of 2008. A year earlier, there were 90.4 million households with cards, according to Nilson Report issued in April 2009.
However, credit cards could be a solution or a problem to consumers as they could push consumers into a debt trap.
Original Posting At: GulfNews
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