The Future Of Payment Systems

Author : Stephen Millard,Andrew Haldane,Victoria Saporta
Publisher : Routledge
Page : 288 pages
File Size : 55,5 Mb
Release : 2008-03-25
Category : Business & Economics
ISBN : 9781134071296

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The Future of Payment Systems by Stephen Millard,Andrew Haldane,Victoria Saporta Pdf

Drawing on wide-ranging contributions from prominent international experts and discussing some of the most pressing issues facing policy makers and practitioners in the field of payment systems today, this volume provides cutting-edge perspectives on the current issues surrounding payment systems and their future. It covers a range of continually important topics, including: the form payment systems might take in the future the risks associated with this evolution the techniques being deployed to assess these risks and the implications these risks have for the respective roles of the public and private sector. Produced in association with the Bank of England, this book is fascinating reading for practitioners and policy makers in the field of payment systems, as well as students and researchers engaged with the economics of payments and central banking policy.

Author : Bernardo Batiz-Lazo,Leonidas Efthymiou
Publisher : Springer
Page : 432 pages
File Size : 53,9 Mb
Release : 2016-12-04
Category : Business & Economics
ISBN : 9781137602312

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The Book of Payments by Bernardo Batiz-Lazo,Leonidas Efthymiou Pdf

This book examines the nature of retail financial transaction infrastructures. Contributions assume a long-term outlook in their exploration of the key financial processes and systems that support a global transition to a cashless economy. The volume offers both modern and historic accounts that demonstrate the constantly changing role of payment instruments. It brings together different theoretical approaches to the study, re-examining and forecasting changes in retail payment systems. Chapters explore a global transition to a cashless society and contemplate future alternatives to cash, cheques and plastic, featuring the perspectives of academics from different disciplines in conversation and industry participants from six continents. Readers are invited to discover the innovation in payment systems and how it co-evolves with changes in society and organisations through personal, corporate and governmental processes.

Author : Eswar S. Prasad
Publisher : Harvard University Press
Page : 497 pages
File Size : 44,7 Mb
Release : 2021-09-28
Category : Business & Economics
ISBN : 9780674258440

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The Future of Money by Eswar S. Prasad Pdf

A cutting-edge look at how accelerating financial change, from the end of cash to the rise of cryptocurrencies, will transform economies for better and worse. We think weÕve seen financial innovation. We bank from laptops and buy coffee with the wave of a phone. But these are minor miracles compared with the dizzying experiments now underway around the globe, as businesses and governments alike embrace the possibilities of new financial technologies. As Eswar Prasad explains, the world of finance is at the threshold of major disruption that will affect corporations, bankers, states, and indeed all of us. The transformation of money will fundamentally rewrite how ordinary people live. Above all, Prasad foresees the end of physical cash. The driving force wonÕt be phones or credit cards but rather central banks, spurred by the emergence of cryptocurrencies to develop their own, more stable digital currencies. Meanwhile, cryptocurrencies themselves will evolve unpredictably as global corporations like Facebook and Amazon join the game. The changes will be accompanied by snowballing innovations that are reshaping finance and have already begun to revolutionize how we invest, trade, insure, and manage risk. Prasad shows how these and other changes will redefine the very concept of money, unbundling its traditional functions as a unit of account, medium of exchange, and store of value. The promise lies in greater efficiency and flexibility, increased sensitivity to the needs of diverse consumers, and improved market access for the unbanked. The risk is instability, lack of accountability, and erosion of privacy. A lucid, visionary work, The Future of Money shows how to maximize the best and guard against the worst of what is to come.

Author : Peter Goldfinch
Publisher : Routledge
Page : 126 pages
File Size : 47,5 Mb
Release : 2019-02-11
Category : Business & Economics
ISBN : 9780429684906

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A Global Guide to FinTech and Future Payment Trends by Peter Goldfinch Pdf

Being able to make and receive payments is an essential facet of modern life. It is integral to the banking and finance systems, and it touches all global citizens. In some areas, payment systems are rapidly evolving – moving swiftly from paper payment instruments, to electronic, to real-time – but in others, underdeveloped payment systems hold back economic and social development. This book is intended to assist the reader in navigating the payments landscape. The author explores highly topical areas, such as the role of payment systems in enabling commerce to contribute to the development of emerging economies, the evolution of payment systems from paper instruments to computerization, the role of cryptocurrencies, and the slow decline of plastic credit and debit cards owing to alternative forms of payment being introduced. Altogether, this book provides a comprehensive overview of the evolution of payment and offers projections for the future, encouraging readers to explore their own predictions, using the framework that the book has provided. It is vital reading for technologists, marketers, executives and investors in the FinTech sector, as well as academics teaching business and technology courses.

Author : D. Rambure,A. Nacamuli
Publisher : Springer
Page : 235 pages
File Size : 43,6 Mb
Release : 2008-09-17
Category : Business & Economics
ISBN : 9780230227217

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Payment Systems by D. Rambure,A. Nacamuli Pdf

Payment systems are changing profoundly through regulation, technology and competition from new entrants. This is a comprehensive introduction and reference on payment systems, covering their structure, international systems and settlements, and focusing on electronic transfers. Concludes with the future of the payments business.

Author : Robert E. Litan,Martin Neil Baily
Publisher : Rowman & Littlefield
Page : 158 pages
File Size : 50,7 Mb
Release : 2009-12-01
Category : Business & Economics
ISBN : 9780815703785

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Moving Money by Robert E. Litan,Martin Neil Baily Pdf

Once we paid for things with bills, coins, or checks. Today we pay with zeroes and ones—digital entries on credit and debit cards, or electronic messages sent over the Internet. In Moving Money, distinguished analysts explore this trend, its development and likely future, and the ramifications of this transformation. This is a book about money as a medium of exchange—in the past, in the present, but particularly in the future. What forms has money taken over the years? Moreover, how have those means of payment changed in recent years, and how will they develop in the future? And what (if anything) should policymakers do to facilitate those changes, or at least allow them to develop and mature? Brookings economists Robert E. Litan and Martin Neil Baily and a distinguished group of experts dissect these issues and peer into the future of consumer payments. The landscape of the consumer payments industry will be shaped at least in part by public policies. Historically, governments have had monopolies on the manufacture of money. Any form of payment clearly requires trust on the part of both the seller and the buyer, and the government must establish and enforce laws to secure this relationship. More controversial is the issue of whether, and to what extent, government is also needed to protect the market in private sector payments systems. Why do these issues matter? The payments industry is a large and important sector of developed economies. In the United States, private-sector payments providers generate approximately $280 billion a year in revenue, while the government invests substantial resources into making money (minting coins and printing bills) or moving it (via checks and various electronic transfers). And the way we pay for things influences our purchases—what we spend money on, how much we spend, and where we spend it. Thus the future of consumer payments is intertwined with the health of national economies. Contri

Author : Susanne Chishti,Tony Craddock,Robert Courtneidge,Markos Zachariadis
Publisher : John Wiley & Sons
Page : 261 pages
File Size : 51,8 Mb
Release : 2020-02-18
Category : Business & Economics
ISBN : 9781119551911

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The PAYTECH Book by Susanne Chishti,Tony Craddock,Robert Courtneidge,Markos Zachariadis Pdf

The only globally-crowdsourced book on the future of payments (“PayTech”), offering comprehensive understanding of a rapidly evolving industry at the centre of global commerce The movement of money between individuals, organisations and governments is crucial to the world economy. The payments industry has undergone immense transformation ­– new regulations, technologies and consumer demands have prompted significant changes to the tools, products and use cases in payments, as well as presented lucrative opportunities for entrepreneurs and FinTech professionals. As payment technologies become faster and more efficient, companies and investors are increasingly favouring PayTech innovation due to better customer experience, increased revenues and manageable risks. The PAYTECH Book brings together a diverse collection of industry experts to provide entrepreneurs, financial services professionals and investors with the answers they need to capitalise on the highly profitable PayTech market. Written by leaders in the global FinTech and payment sectors, this informative volume explains key industry developments and presents valuable first-hand insights from prominent industry practitioners. Contributors include advisors and consultants to the payments and financial services industry, entrepreneurs and business owners utilising cutting-edge PayTech capabilities, academic researchers exploring the social-political-economic impact of PayTech and many others. Detailed chapters cover essential topics such as cybersecurity, regulation and compliance, wholesale payments and how payment systems currently work and how PayTech can improve them. This book: Defines PayTech and identifies its key players Discusses how PayTech can transform developed markets and accelerate growth in emerging economies Describes how PayTech fits into the larger FinTech ecosystem Explores the future of PayTech and its potential as an agent of social change and financial inclusion Provides diverse perspectives on investment in PayTech and what consolidation and expansion will look like The PAYTECH Book: The Payment Technology Handbook for Investors, Entrepreneurs and FinTech Visionaries is an indispensable source of information for FinTech investors and entrepreneurs, managers from payments companies and financial services firms and executives responsible for payments in government, corporations, public sector organisations, retailers and users of payments.

Author : David B. Humphrey
Publisher : World Bank Publications
Page : 114 pages
File Size : 46,7 Mb
Release : 1995
Category : Business & Economics
ISBN : 0821331116

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Payment Systems by David B. Humphrey Pdf

World Bank Technical Paper No. 260. An efficient payment system is a necessary precondition for business development. This study outlines the basic operating principles of a payment system and reviews its benefits, costs, risks, and problems. It examines in detail the systems currently in place in the developed economies of Europe and the United States and draws from the analyses to support recommendations for restructuring those systems in developing countries. The study reviews the various types of payment practices that exist in mature systems including cash, check, GIRO, debit and credit card, direct debit, and large-value wire transfers. A range of short- and long-term improvements in payment systems are recommended for developing countries. There is a special focus on the Russian payment system and the problems it faces in transition from a centrally planned to an market economy.

Author : Markus Mayer
Publisher : GRIN Verlag
Page : 126 pages
File Size : 48,7 Mb
Release : 2007-01-31
Category : Computers
ISBN : 9783638587495

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The future of payment systems - A case study on digiPROOF, a fingerprint based payment system by Markus Mayer Pdf

Master's Thesis from the year 2006 in the subject Computer Science - Commercial Information Technology, grade: A, UNITEC New Zealand, 129 entries in the bibliography, language: English, abstract: digiPROOF is a payment system which is based on biometrics and allows customers to pay with their fingerprint. EDEKA, a big German supermarket chain has introduced the digiPROOF system in one of their stores to test how customers accept the system. Up to now, customer reactions have been very positive and EDEKA is at the moment implementing the system in several other stores and plans to roll out the system Germany wide in the long run. In the past years a great variety of new and innovative payment systems have been introduced into the market. None of them however could gain a substantial market share and replace traditional payment methods. The aim of this dissertation was therefore to analyze if payment systems based on fingerprint technology have the potential to sustain in the market and if they might be able to supplement or even replace traditional payment systems. In order to assess digiPROOF a framework of success factors for payment systems was established in this dissertation. Subsequently a survey of users as well as non-users of the system was carried out and the digiPROOF system was evaluated according to the framework of success factors to draw a conclusion on whether fingerprint based payment systems are able to sustain successfully in the market and how the future payment market might look like. The approach of evaluating the system from a theoretical point of view through the framework of success factors and triangulating the results through empirical findings by questioning users as well as non-users allowed to draw a holistic picture and make a positive assumption on the future prospects of fingerprint based payment systems.

Author : Dominique Rambure,Alec Nacamuli
Publisher : Palgrave MacMillan
Page : 274 pages
File Size : 43,8 Mb
Release : 2008-09-17
Category : Business & Economics
ISBN : STANFORD:36105131623949

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Payment Systems by Dominique Rambure,Alec Nacamuli Pdf

Payment systems are changing profoundly through regulation, technology and competition from new entrants. This is a comprehensive introduction and reference on payment systems, covering their structure, international systems and settlements, and focusing on electronic transfers. It concludes with the future of the payments business.

Author : Markus Heckel,Franz Waldenberger
Publisher : Springer Nature
Page : 209 pages
File Size : 42,9 Mb
Release : 2022
Category : Capital market
ISBN : 9789811678301

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The Future of Financial Systems in the Digital Age by Markus Heckel,Franz Waldenberger Pdf

This book is open access, which means that you have free and unlimited access. The increasing capacity of digital networks and computing power, together with the resulting connectivity and availability of "big data", are impacting financial systems worldwide with rapidly advancing deep-learning algorithms and distributed ledger technologies. They transform the structure and performance of financial markets, the service proposition of financial products, the organization of payment systems, the business models of banks, insurance companies and other financial service providers, as well as the design of money supply regimes and central banking. This book, The Future of Financial Systems in the Digital Age: Perspectives from Europe and Japan, brings together leading scholars, policymakers, and regulators from Japan and Europe, all with a profound and long professional background in the field of finance, to analyze the digital transformation of the financial system. The authors analyze the impact of digitalization on the financial system from different perspectives such as transaction costs and with regard to specific topics like the potential of digital and blockchain-based currency systems, the role of algorithmic trading, obstacles in the use of cashless payments, the challenges of regulatory oversight, and the transformation of banking business models. The collection of chapters offers insights from Japanese and European discourses, approaches, and experiences on a topic otherwise dominated by studies about developments in the USA and China.

Author : Mr.Tobias Adrian,Mr.Tommaso Mancini Griffoli
Publisher : International Monetary Fund
Page : 20 pages
File Size : 44,7 Mb
Release : 2019-07-15
Category : Business & Economics
ISBN : 9781498324908

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The Rise of Digital Money by Mr.Tobias Adrian,Mr.Tommaso Mancini Griffoli Pdf

This paper marks the launch of a new IMF series, Fintech Notes. Building on years of IMF staff work, it will explore pressing topics in the digital economy and be issued periodically. The series will carry work by IMF staff and will seek to provide insight into the intersection of technology and the global economy. The Rise of Digital Money analyses how technology companies are stepping up competition to large banks and credit card companies. Digital forms of money are increasingly in the wallets of consumers as well as in the minds of policymakers. Cash and bank deposits are battling with so-called e-money, electronically stored monetary value denominated in, and pegged to, a currency like the euro or the dollar. This paper identifies the benefits and risks and highlights regulatory issues that are likely to emerge with a broader adoption of stablecoins. The paper also highlights the risks associated with e-money: potential creation of new monopolies; threats to weaker currencies; concerns about consumer protection and financial stability; and the risk of fostering illegal activities, among others.

Author : Liébana-Cabanillas, Francisco
Publisher : IGI Global
Page : 393 pages
File Size : 44,7 Mb
Release : 2014-02-28
Category : Business & Economics
ISBN : 9781466651913

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Electronic Payment Systems for Competitive Advantage in E-Commerce by Liébana-Cabanillas, Francisco Pdf

Recent innovations in the field of information technology and communications are radically changing the way international organizations conduct business. In this competitive environment, having the necessary tools to streamline business transactions and secure digital payments is crucial to business success. Electronic Payment Systems for Competitive Advantage in E-Commerce provides relevant theoretical frameworks and the latest empirical findings on electronic payment systems in the digital marketplace. Focusing on the importance of e-commerce in business development, including the advantages and disadvantages of e-payments, this book is an essential resource for business professionals who want to improve their understanding of the strategic role of e-commerce in all dimensions, as well as for both researchers and students.

Author : United States. Congress. House. Committee on Banking and Financial Services. Subcommittee on Domestic and International Monetary Policy
Publisher : Unknown
Page : 178 pages
File Size : 43,8 Mb
Release : 1995
Category : Business & Economics
ISBN : UVA:X002687831

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The Future of Money by United States. Congress. House. Committee on Banking and Financial Services. Subcommittee on Domestic and International Monetary Policy Pdf

Author : Tamara Knecht
Publisher : GRIN Verlag
Page : 194 pages
File Size : 40,9 Mb
Release : 2022-11-16
Category : Business & Economics
ISBN : 9783346763419

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The Digital Transformation of Payment: A Glimpse Into the Future of Mobile Payment Systems by Tamara Knecht Pdf

Master's Thesis from the year 2021 in the subject Business economics - Market research, grade: 1,0, accadis Hochschule Bad Homburg, language: English, abstract: Mobile payment systems are an innovation that allows people to make contactless payments with a mobile device (such as a smartphone) at the cash register in brick-and-mortar retail outlets without carrying a wallet with credit and debit cards. While other countries have almost entirely adopted and integrated this innovation into their daily lives, adoption rates in Germany remain significantly low. Hence, the objective of this work is to analyze the future of mobile payment systems in Germany with respect to the reasons for adoption or refusal. In particular, the following research question was addressed: Will mobile payment methods replace physical cards in Germany, or will certain factors prevent full adoption?