This paper documents the importance of nonbanks in retail payments in the United States and in 15 European countries and analyses the implications of the importance and multiple roles played by nonbanks on retail payment risks. Nonbanks play multiple roles along the entire payment processing...

Nonbanks have always been a key component of the nation's payments system. In recent years, however, nonbanks have become even more prominent. This heightened visibility raises several questions. In which payments activities are nonbanks engaged? What roles do nonbanks play in specific payments...

This article examines the potential for fraud associated with various "traditional" payment methods and the protective measures that consumers should take when using them.

This article looks at the many roles nonbanks play in payments activities and the oversight questions that arise as a result.

This article discusses the various uses of stored-value cards and the different degrees of their use and acceptance four years after their introduction.