While the economy is still in the midst of a major recovery and retail spending over the past four or five years has been sporadic at best, many economists are optimistic due to the increased rate of payment card usage over the same period of time. 

Many experts believe the key to economic recovery is to give consumers easier options when it comes to making payments, and with the plethora of credit and debit card choices on today's market, many individuals are embracing more efficient methods, and merchants are capitalizing on this opportunity.

According to a report from Moody's Analytics, one of the driving forces behind increased global credit and debit card usage is the rise of the payment method in emerging markets. In fact, the report states card usage added $471 billion to Asia-Pacific markets from 2008 through 2012.

Mark Zandi, chief economist of Moody's Analytics, said in the report that consumption in this area has grown concurrently with the shift from traditional payment methods, such as cash and checks, to more advanced options like card payments, eCommerce and even mobile.

"Despite a challenging global economic landscape, the increased penetration of payment cards helped boost consumer consumption and, on average, added to GDP," Zandi said. "This was particularly true for emerging markets. The increase in consumption parallels the growing popularity and accessibility of electronic payments among global consumers, and the findings point to the need for governments to adopt policies that encourage the shift to efficient and secure electronic forms of payments."

If growth within the electronic payments market is to serve as the catalyst behind global economic recovery, merchants must be prepared to process any new payment type. Implementing a pos card processing system will allow merchants to accept all types of payment cards.