[Congressional Record (Bound Edition), Volume 162 (2016), Part 10]
[Senate]
[Page 14039]
[From the U.S. Government Publishing Office, www.gpo.gov]




  SENATE RESOLUTION 603--DESIGNATING THE WEEK BEGINNING ON THE FIRST 
  FRIDAY AFTER THANKSGIVING IN 2016 AS ``NATIONAL ELECTRONIC PAYMENTS 
                                 WEEK''

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

                              S. Res. 603

       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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