ETA Commends Congress’ Passage of Additional Stimulus Funding Through Digital Payments

Washington, D.C. — March 10, 2021 — The following statement is attributed to Jodie Kelley, CEO, Electronic Transactions Association (ETA), the global trade association for the payments technology industry, regarding Congress’ passage of the $1.9 trillion COVID-19 relief bill:

”We applaud Congress today for passing the American Rescue Plan Act of 2021, the $1.9 trillion economic stimulus package that will help speed up recovery from the economic and health effects of the COVID-19 pandemic and the ongoing recession. The American Rescue Plan has broad public support and is a great next step in helping all Americans, particularly low- and moderate-income Americans, get back on their feet.

The digital transactions industry has been essential in keeping the economy moving during the pandemic by providing safe and secure payment options. During the previous round of economic stimulus, the industry helped the U.S. Treasury distribute $110 billion in Paycheck Protection Program (PPP) loans to more than 1.5 million small businesses, billions of dollars in federal and state unemployment benefits, and $9 billion to 57 million Americans using prepaid cards provided by the industry. Prepaid cards give Treasury another secure way to get stimulus money into the hands of Americans who need it quickly.

Our members have advocated for the use of a diverse range of payments technology products and services to help Americans during this crisis, and we stand ready to provide continued assistance to Treasury in distributing stimulus funds as the American Rescue Plan is rolled out across the country.”

About ETA
The Electronic Transactions Association (ETA) is the global trade association representing more than 500 payments and technology companies. ETA members make commerce possible by processing more than $21 trillion in purchases worldwide and deploying payments innovation to merchants and consumers.

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