provide a return to their substantial investment in card payment networks. ; Pacheco and Sullivan summarize the proceedings of …

years the theoretical literature on interchange fees, and payment cards in general, has grown rapidly, the empirical … very complicated, and empirical models need to incorporate many industry-specific features, such as payment-card network …, only a few payment card networks exist in a given country. However, because of the first and second reasons, generalizing …

payment system. In this vision of the future, households, businesses, and government agencies would replace paper transactions … with faster, more efficient electronic payments. The centerpiece of this new payment world is the debit card, a … parts of this payment revolution have arrived, in many respects the forecasts have proved to be overly optimistic. The …

Rapid developments in technology have brought about new methods of retail payment-such as remote banking, electronic … alternative payment methods will differ from traditional methods not only in a technological but also in an economic sense and … economic theory, there is or will likely be anything new about these new forms of payment. The author describes some of the …

the use of payment instruments (credit transfers, direct debits and card payments) throughout SEPA (the 27 EU countries … created a harmonised legal framework for payment services and the European Payments Council (EPC), unifying the banking sector …. For each of the SEPA payment instruments, the EPC has developed standards : “Rulebooks” for the credit transfer and direct …

Payment finality is critical to decentralized exchange. By specifying how the transfer of one type of claim … why rules governing payment finality are needed to sort out who will bear the losses in the event of default. Over time … trade. ; A second model shows how a more modern payment system works. The large volume and scope of payments in modern …

transactions process for payment cards. After describing a simple transaction with a private-label card, the author then considers …