Cyber Monday’s $13 Billion Dollar Boost to the Economy, Powered by Electronic Payments

WASHINGTON, DC – A new analysis by the Electronic Payments Coalition (EPC) highlights the billion-dollar economic impact electronic payments will deliver this Cyber Monday, one of the largest online shopping days of the year. With Americans projected to spend more than $13 billion online this Cyber Monday, electronic payments are fueling the economy and empowering businesses to thrive during the holiday season.  

“Cyber Monday could not exist without the modern electronic payments system,” said Richard Hunt, Executive Chairman of EPC. “Credit and debit cards do more than make online shopping possible—they ensure seamless, secure, and efficient transactions that drive consumer confidence, fuel economic growth, and support businesses of all sizes nationwide.” 

The electronic payments system offers businesses essential advantages, including lower processing costs compared to cash, guaranteed payments, faster transactions, and the ability to operate seamlessly 24/7, ensuring businesses can serve customers at any time. This system also provides robust security protections to safeguard consumer data and prevent fraud—critical benefits, especially during the busy holiday shopping season. Research consistently shows these advantages create unparalleled value for both businesses and consumers, enabling an ecosystem otherwise not possible.

“Beyond lowering costs, credit and debit cards improve the customer experience, drive higher sales, and guarantee prompt payments to business owners,” added Hunt. “This Cyber Monday, as billions flow into the market, there is no denying that electronic payments are the backbone of our economy.” If consumers made the equivalent of $13 billion in in-store purchases using cash alone, those purchases would have cost businesses $726 million or approximately $531 million more than the equivalent purchase made by consumers using credit or debit cards.