This book makes a practical contribution to increased understanding of payment system design and management and of the relationship between the payment system and monetary policy. The authors of the twelve papers included in the book are central banking experts from around the world who draw on their experiences in providing technical assistance to the central banks of the countries of the former U.S.S.R.
In what follows, we estimate the value of the wedge between private and social costs created by float for several types ... Knowledge of this divergence enables us to estimate the existing incentives to overuse checks and to approximate ...
"This book analyzes the evolutionary trends, functions and mechanisms of payment systems and presents an in-depth explanation of how these trends led to the reduction of settlement risk and the importance of such mechanisms that have ...
The second edition updates information on card, ACH, and check systems, as well as providing perspective on developments in emerging payments.
This is a comprehensive introduction and reference on payment systems, covering their structure, international systems and settlements, and focusing on electronic transfers. Concludes with the future of the payments business.
The U.S. payment system is in the midst of a significant transition.
Drawing on wide-ranging contributions from prominent international experts and discussing some of the most pressing issues facing policy makers and practitioners in the field of payment systems today, this volume provides cutting-edge ...
Using a systems approach, the text and problems focus on rules that are applied in practice.
The study reviews the various types of payment practices that exist in mature systems including cash, check, GIRO, debit and credit card, direct debit, and large-value wire transfers.
The book examines in detail the transformation of the VISA system from a collection of non-integrated, localized, paper-based bank credit card programs into the cooperative, global, electronic value exchange network it is today.
"This book is designed to provide the reader with an insight into the main concepts involved in the handling of payments, securities and derivatives and the organisation and functioning of the market infrastructure concerned.