Payment systems are an integral part component of banking that is undergoing material change. Industry trends and discussions with key banking personnel highlighted four issues that are top concerns for banks engaged in emerging payments: changing delivery channels and safeguards, fraud, vendor...

On September 11, 2000, Jamie B. Stewart, Jr., First Vice President and Chief Operating Officer of the Federal Reserve Bank of New York, delivered the following remarks at Sibos 2000, the international banking operations seminar sponsored by the payment network SWIFT (Society for Worldwide...

One reason the U.S. has been slow to move from paper checks to electronic payments is that the benefits for individual users are less than for the payments system as a whole.

A discussion of international, domestic, pricing, and operational aspects of electronic payment system risk, with a description of proposals for managing the risk and for reducing Federal Reserve exposure.

In the U.S., the share of payments made "electronically"--with credit cards, debit cards, and direct payments--grew from 25 percent in 1995 to over 50 percent in 2002 (BIS, 2004). This paper frames this aggregate change in the context of individual behavior. Family level data indicate that the...