For comparison, Visa's stated FY 2025 (ended Sep 30, 2025) payments volume was $14.2T.

rough math, but:

$14.2T / $1.9T * 1.6% = 12% global GDP

I was curious, and the American Clearing House has a TPV of $93 trillion, which means ACH is 78%?? That seems too high.

Oh - not all bank transfers count in GDP. I often move money from one account to another.

Note that Visa has the same issue: withdrawing money from an ATM shouldn’t count towards GDP! Neither does Vemo-ing a friend to settle up a split restaurant bill (my Venmo is attached to my debit card).

At least it’s not 24.9%

Americans and credit have an unhealthy relationship.