This article investigates the relationship between e-money, consumption
and sectoral growth in Jamaica using the Autoregressive Distributed Lag
(ARDL) model. Using this technique, we evaluate whether e-money has a
long run relationship with the real economy. The definition of e-money is
restricted in this article to card payments. Both the size of card payments
and the payment penetration were evaluated. Card payments were
disaggregated into internet, point of sale (POS) and automated bank