[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[S. Res. 603 Introduced in Senate (IS)]

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114th CONGRESS
  2d Session
S. RES. 603

 Designating the week beginning on the first Friday after Thanksgiving 
           in 2016 as ``National Electronic Payments Week''.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           September 29, 2016

   Mr. Isakson (for himself, Mr. Rounds, Mr. Peters, and Mr. Perdue) 
submitted the following resolution; which was referred to the Committee 
                            on the Judiciary

_______________________________________________________________________

                               RESOLUTION


 
 Designating the week beginning on the first Friday after Thanksgiving 
           in 2016 as ``National Electronic Payments Week''.

Whereas 70 percent of all consumer spending in the United States is conducted 
        via electronic payments;
Whereas electronic payments play a central role in promoting prosperity, 
        commerce, and economic growth in the United States;
Whereas electronic payments involve purchases with credit, debit, and prepaid 
        accounts, either in-store using a card or connected device or online;
Whereas payments companies in the United States enable individuals to gain 
        access to rapid, convenient, and secure financial payments not otherwise 
        available without electronic payments;
Whereas payments and technology companies in the United States are continually 
        developing and deploying new, innovative electronic payments 
        technologies to make commerce more secure, faster, accessible, and 
        efficient to protect against fraud;
Whereas innovative electronic payments technologies support small businesses in 
        the United States by providing secure, faster, accessible, and efficient 
        solutions;
Whereas electronic payments are used by more than 8,000,000 merchants in the 
        United States and the 1,200,000,000 payment cards in circulation allow 
        individuals to conduct electronic payments through those merchants and 
        with one another;
Whereas the value of electronic payments made on a mobile device was estimated 
        to increase by 210 percent in 2016;
Whereas electronic payments companies processed more than $5,000,000,000,000 in 
        payments in 2015, and electronic payments are projected to increase to 
        $7,000,000,000,000 in 2017;
Whereas holiday spending accounted for nearly 20 percent of retail sales during 
        2015, and nearly 70 percent of all holiday sales are conducted via 
        electronic payments;
Whereas, on Black Friday in 2015, for the first time more individuals in the 
        United States shopped online than in retail stores, which could not have 
        been possible without electronic payments companies;
Whereas the 7-day period after Thanksgiving accounted for more than 6.5 percent 
        of electronic payments for the final quarter of 2015, and electronic 
        payments totaled $35,000,000,000 during that 7-day period;
Whereas the designation of National Electronic Payments Week is especially 
        important to the electronic payments industry because it marks the start 
        of the holiday season and includes Black Friday, Small Business 
        Saturday, Cyber Monday, and Giving Tuesday; and
Whereas electronic payments play an integral role for consumers and merchants in 
        the transfer of goods and services not only during the holiday season, 
        but also throughout the year: Now, therefore, be it
    Resolved, That the Senate--
            (1) designates the week beginning on the first Friday after 
        Thanksgiving in 2016 as ``National Electronic Payments Week'';
            (2) recognizes the significant contributions and great 
        importance of electronic payments and the advantages electronic 
        payments provide to consumers, merchants, small businesses, and 
        the economy of the United States as a whole;
            (3) appreciates the significant role that electronic 
        payments play in the global marketplace;
            (4) acknowledges the growth of electronic payments 
        domestically and abroad; and
            (5) desires to foster an environment that encourages 
        continued innovation and enhanced security in electronic 
        payments.
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