Advocacy That Fuels Progress
As the leading trade association representing the payments and fintech industries, ETA advocates before federal, state, and Canadian policymakers.
We shape public policy to advance our members' interests while keeping them informed of legislative and regulatory developments impacting the industry.
Download our paper Electronic Transactions: Powering Business and Everyday Life.
Protecting electronic payments means protecting the present and future of our economy.
The industry was critical to allowing the economy to continue to run during the pandemic, and it’s fueling America’s growth today.
Every time someone taps or inserts their card, buys something online, makes an electronic bill payment, uses an app to make a person-to-person (P2P) payment, or completes a business-to-business (B2B) payment, they are using electronic payment technologies.
The growing and diverse industry behind these payments has invested significantly over decades to build a smart, secure and seamless financial payment network — allowing millions of transactions to happen effortlessly every second of every day.
The industry, represented by the Electronic Transactions Association, includes payments networks, financial institutions, transaction processors, mobile payments products and services, payments technologies, independent sales organizations, software providers, and hardware suppliers.
Electronic payments power the U.S. economy by giving businesses and consumers the tools to easily and efficiently complete billions of transactions worth more than $52.7 trillion every year.
Small and medium-sized businesses (SMBs) rely on electronic transactions to sell however customers want to buy, enabling them to expand and thrive in an increasingly competitive economy. This ability has allowed the SMBs to add nearly $250 billion to the U.S. economy in recent years while supporting millions of jobs.
Electronic payments are not only fast and simple for the point of sale, they save businesses the time and cost to count, handle and secure cash, and reduces the potential for theft.
9 out of 10
small business owners reported that transitioning to e-commerce empowered them to compete effectively with larger retailers.
Consumers rely on electronic transactions throughout their day, whether they are buying groceries at the store, paying bills or shopping online, eating out, using ride sharing, sending money to friends and family, depositing a paycheck and so much more.
By growing the marketplace for goods, the industry opens up a world of choice for consumers, enabling them to pay how, when and where they prefer. Consumers also benefit from features like no-fault fraud protection, rewards and cash back programs.
For underinvested communities, digital payments offer access to everyday financial services, promoting equitable economic opportunities across the U.S.
Mobile payment apps provide a lightning-fast way to transfer money between friends and family. More than half of Americans use these apps at least once a week.
Security That’s Built In
The industry is committed to security, and it makes sure that electronic transactions are highly secure and reliable. Advanced encryption and other cutting-edge technologies protect against fraud and data breaches, giving consumers peace
of mind.
As just one measure of the industry’s work on security, global fraud rates for credit, debit, and prepaid card transactions have continued to decline. In 2022, fraud losses represented only 0.07% of transaction volume — a remarkable improvement thanks to the industry’s investment in security.
Investing in Tomorrow
The electronic payments industry has allowed the world to adjust to rapidly changing economic conditions, including preventing economic collapse during the COVID-19 pandemic. New technologies like secure digital transaction platforms allow businesses to conduct billions of online transactions that build their supply chains and grow their customer base. Tools like smartphone apps that allow for fast, safe and simple P2P and B2B transfers have led to an explosion of new small business growth that supports local economies and brings underinvested consumers into the financial system.
