2017

Competition and Coordination: The Card Network Balancing Act

By Jesse Leigh Maniff (March 2017)
As payment card networks seek to balance the benefits of collaboration against allegations of anti-competitive behavior, efforts to improve payments security may be hindered by the threat of legal action.

Banks Re-enter the P2P Payments Fray: With Mobile, Will this Time Be Different?

By Terri Bradford (January 2017)
After coming up short against nonbanks in two previous rounds of the fray over P2P payments, banks appear to be poised to go toe-to-toe this time around.

2015

The Puzzle of Payments Security: Fitting the Pieces Together to Protect the Retail Payments System

By Terri Bradford (October 2015)
This article offers highlights from the Federal Reserve Bank of Kansas City's fifth international payments conference, "The Puzzle of Retail Payments Security: Fitting the Pieces Together to Protect the Retail Payments System," hosted June 25-26, 2015.

Change is Coming: What the EMV Migration May Mean for Payments Innovation

By Terri Bradford and Jesse Leigh Maniff (April 2015)
This article considers how the upcoming shift from magnetic stripe to chip technology may affect the survival of card-based payment innovations.

2014

Interchange Fees and Network Rules: A Shift from Antitrust Litigation to Regulatory Measures in Various Countries

By Fumiko Hayashi and Jesse Leigh Maniff (October 2014)
This article summarizes the global trends in public authority involvement in payment card pricing and rules, examines reasons for the shift to regulatory measures, and considers potential implications for the United States.

2013

Fees, Fraud and Regulation: Forces of Change in the Payment Card Industry

By Fumiko Hayashi and Richard J. Sullivan (April 2013)
This article summarizes analysis from three recent Economic Review articles on how changes to card payment technology and debit card regulation will affect the U.S. retail payments system in years to come.

2012

Where Social Networks, Payments and Banking Intersect

By Terri Bradford (December 2012)
This article explores opportunities and risks emerging from a relatively new phenomenon: The rise of commerce, banking and payments services marketed and offered through social media.

Discounts and Surcharges: Implications for Consumer Payment Choice

By Fumiko Hayashi (June 2012)
This article reviews the current landscape for payment discounts and surcharges, considers whether they influence consumer payment choice, and offers several policy responses.

2009

An Update on Interchange Legislation in the United States

By Christian Hung (December 2009)
This article provides a summary of recent developments in interchange legislation in the United States as well as the recently released Government Accountability Office report detailing its findings on interchange fees.

The Benefits of Collecting and Reporting Payment Fraud Statistics for the United States

By Richard J. Sullivan (October 2009)
This article argues that publication of fraud statistics helps the payment industry to coordinate security efforts, provides useful information for policymakers, and helps to promote consumer confidence in payments. However, while other countries regularly publish such statistics, it is an open question whether they will become available in the United States.

Backward Glance While Looking Forward

By Terri Bradford (April 2009)
This article takes a backward glance at some of the early emerging payments nearly a decade after their introduction and examines their status today and where they may be heading.

2008

International Remittances

By Terri Bradford (December 2008)
This article describes some of the means by which individuals remit funds internationally -- informal networks, money transfer operators, financial institutions and other options -- and discusses some of the factors that may influence the choice of provider.

Developments in Merchant Acquiring

By Terri Bradford and Christian Hung (Sept 2008)
This article discusses the origin and roles of merchant acquiring; the models for acquiring; and relevant developments in legislation, PCI compliance, and the Single Euro Payments Area.

Developments in Interchange Fees in the United States and Abroad

By Terri Bradford and Fumiko Hayashi (May 2008)
This article provides an update on developments in interchange fees in the United States and recent public authority involvement in interchange fees abroad.

2007

The Evolution of the ACH

By Terri Bradford (December 2007)
This article by Terri Bradford summarizes the beginnings of the ACH, exciting changes underway today, and possible further changes in the future.

Complex Landscapes: Mobile Payments in Japan, South Korea, and the United States

By Terri Bradford and Fumiko Hayashi (October 2007)
This article provides and overview of the mobile payments landscape in Japan and South Korea and discusses developments in the United States.

Stored-Value Cards: A Card for Every Reason...

By Terri Bradford (June 2007)
This article discusses the various uses of stored-value cards and the different degrees of their use and acceptance four years after their introduction.

2006

Paper, Plastic......or Phone?

By Terri Bradford (December 2006)
This article examines mobile-phone payment and banking alternatives in the United States. It explores prospects for growth, available technologies, and the outlook for one or more technologies coming to dominate the market.

The U.S. Retail Payments System in Transition: Federal Reserve Initiatives

By Barbara S. Pacheco (August 2006)
This article explores the changing landscape of U.S. retail payments: trends, the Fed's role, and the future of payments.

Payments Fraud: Consumer Considerations

By Terri Bradford and Bruce Cundiff (May 2006)
This article examines the potential for fraud associated with various "traditional" payment methods and the protective measures that consumers should take when using them.

2005

Contactless: The Next Payment Wave?

By Terri Bradford (December 2005)
This article explores the evolution of contactless payments, whose use will likely increase and could have an important impact on the payments landscape.

Who's Processing Your Payments?

By Terri Bradford and Stuart Weiner (August 2005)
This article looks at the many roles nonbanks play in payments activities and the oversight questions that arise as a result.

Early Experience with Check 21

By Larry Taft and Nathan Halmrast (April 2005)
This article looks at some of the early developments since the Check 21 law became effective and some of the remaining barriers to a more efficient and electronic check clearing system.

2004

Payment Types at the Point of Sale: Merchant Considerations

By Terri Bradford (December 2004)
There are various costs associated with accepting alternative payment types. The costs associated with these payment types are a serious merchant consideration.

Payment Services and the Evolution of Internet Banking

By Richard J. Sullivan (August 2004)
A review of bank Web sites conducted by Payments System Research staff shows how essential online banking has become to the payments system.

A New Era

By Stuart E. Weiner (March 2004)
The U.S. Payments System has entered a new era — one that is witnessing a marked decline in the use of paper checks and a sharp increase in the use of electronic payments.