"Electronic payments are highly efficient, offering advantages such as speed, reduced costs, and accuracy," said Dr. Ray Perryman, President and CEO of The Perryman Group. "These enhancements have contributed significantly to the expansion of the US economy, increasing liquidity and stimulating personal consumption."
Dr. Perryman says credit card debt could be the next thing to derail the economy.
Credit card debt in the US has hit its highest level in history, surpassing the 2008 financial meltdown. Dr. Perryman says today's environment is a lot different.