In recent years, the payment card industry has dealt with the matter of consumer liability for unauthorized charges. However, risks to consumers from identity theft and related use of personal data present new challenges for cardholders and those who profit from their usage, including merchants,...

A private ordering regime has developed within the payment card industry to define appropriate security practices and to monitor compliance by network participants. Market demands for trustworthy systems upon which consumers and merchants could rely provide incentives for security, which the...

This paper, which has been prepared for the conference on Economic Governance and Competition at Tilburg University, examines private ordering within the payment card industry to define appropriate security practices and to monitor compliance by network participants. This private ordering regime...