As consumers and merchants increasingly adopt electronic payments, the pricing of these services has generated substantial scrutiny by public authorities around the world. To discuss these developments and related issues, the Federal Reserve Bank of Chicago hosted its ninth annual Payments...

Three main forces—innovations, incentives, and regulation—have affected the migration to more efficient payment mechanisms. Though several payment alternatives have been introduced recently, many have not been widely adopted. The Chicago Fed held a conference to explore why certain payment...

On June 12, 2007, Chicago Metropolis 2020 and the Federal Reserve Bank of Chicago jointly hosted a conference to discuss road pricing strategies, as well as other issues related to reducing transportation congestion and improving economic efficiency in the Chicago region and around the world. On...

Advances in technology have helped usher in new payment mechanisms catered to current demographic and cross-border demands. Yet these payment innovations also pose increasingly complex security challenges worldwide. Participants at a recent Chicago Fed conference discussed the implications of...

The migration to more efficient payment mechanisms is affected by innovations, incentives, and regulation. While advances in technology have yielded numerous payment method alternatives, many have not been widely adopted. A recent Chicago Fed conference explored why certain payment innovations...

While the U.S. continues to transition away from cash toward electronic payment methods, some population segments continue to rely heavily on cash. In this study of foreign-born Latin Americans in Chicago, the authors find that the dramatic increase in the number of immigrants is supporting a...

On January 1, 2005, Illinois doubled the highway toll for travelers paying with cash, but kept the price unchanged for those paying electronically. This paper combines a theoretical model of payment choice with empirical analysis based on this rare natural experiment of differential pricing...