Investigating The Design Of The Retail Payment System

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Investigating the Design of the Retail Payment System

Author : Yuya Sugio
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis Investigating the Design of the Retail Payment System by : Yuya Sugio

Download or read book Investigating the Design of the Retail Payment System written by Yuya Sugio and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Globally, a variety of innovative technologies are emerging and traditional economic activities are gradually shifting to the digital economy. Among these, in the retail payment sector, which deals with customer contact and payment information, a trend to review interbank retail payment systems is occurring in many countries. The UK initiative has led the way, and similar efforts to instantiate and remake retail payment systems into new systems have been underway in various countries. One of the reasons of the reviews is the fact that, from the user's point of view, there are many aspects of payment services provided by companies that are not user-friendly. In the Japanese retail payments sector, there are various issues such as lack of interoperability, and the government and the banking industry are working to improve these issues. This paper focuses on providing recommendations for the Japanese case. It examines the state of the retail payment systems, considering the payment systems as a quasi-public social infrastructure that can affect all industries, rather than simply a system in the financial sector. More specifically, this paper focuses on the interbank retail fast payment systems and mobile payments based on it, while taking a broad view of the retail payment system, including its regulatory framework. There are various stakeholders with different perspectives in the retail payment system, and the central bank has a neutral perspective and can be the best entity that could provide the system. In reviewing the retail payment system, it is desirable for stakeholders to compare multiple design options and make decisions after clarifying the performance and functions they need. In the Japanese case, the best design option in the short term would be to utilize the banking industry's Cotra system while applying regulations to ensure interoperability, and in the long term, the central bank could provide the system, including the issuance of Central Bank Digital Currency (CBDC). This paper aims to provide a new perspective to stakeholders of the Japanese retail payment system and contribute to the discussion on the future review of it.

Electronic Payment Systems: a User-Centered Perspective and Interaction Design

Author : Dennis Abrazhevich
Publisher : Dennis Abrazhevich
ISBN 13 : 9038619480
Total Pages : 202 pages
Book Rating : 4.0/5 (386 download)

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Book Synopsis Electronic Payment Systems: a User-Centered Perspective and Interaction Design by : Dennis Abrazhevich

Download or read book Electronic Payment Systems: a User-Centered Perspective and Interaction Design written by Dennis Abrazhevich and published by Dennis Abrazhevich. This book was released on 2004 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Innovations in Retail Payments

Author : Committee on Payment and Settlement Systems. Working Group on Innovations in Retail Payments
Publisher :
ISBN 13 : 9789291311279
Total Pages : 96 pages
Book Rating : 4.3/5 (112 download)

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Book Synopsis Innovations in Retail Payments by : Committee on Payment and Settlement Systems. Working Group on Innovations in Retail Payments

Download or read book Innovations in Retail Payments written by Committee on Payment and Settlement Systems. Working Group on Innovations in Retail Payments and published by . This book was released on 2012 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt: "In June 2010, the Committee on Payment and Settlement Systems (CPSS) set up a working group to investigate developments in retail payments, focusing especially on innovations. This report, produced by that group, first provides an overview of innovative retail payment activities in the CPSS and other selected countries from a fact-finding exercise, which attempted to cover influential developments in retail payment instruments and schemes over the past decade. Based on the trends observed and the economics of retail payments, the report identifies a number of exogenous and endogenous factors that could serve as drivers for retail payment innovations or as barriers to them. The analysis was also used to suggest some pointers as to what can be expected over the next five years. Finally, the report identifies a number of issues for central banks concerning their various responsibilities and tasks as catalysts, overseers and/or operators of payment systems."--Abstract.

Banking on Innovation

Author : Tanai Khiaonarong
Publisher : Springer Science & Business Media
ISBN 13 : 3790823333
Total Pages : 200 pages
Book Rating : 4.7/5 (98 download)

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Book Synopsis Banking on Innovation by : Tanai Khiaonarong

Download or read book Banking on Innovation written by Tanai Khiaonarong and published by Springer Science & Business Media. This book was released on 2009-06-01 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: Innovation in banking should be directed at improving the infrastructure that fosters efficient financial services and international trade. In this work, innovation theory is used to show how modern payment systems have transformed the technology of banking and facilitated changes in the strategy and structure of financial services organisations. Design, implementation and dissemination of payment systems are described and the analysis of their costs and benefits is combined with case studies of banks undergoing change. By studying firm capabilities, competencies, and resources, the approach is extended to services in general and linked to the ability of firms to compete and promote national economies. Payment systems vary and advanced and developing economies face obstacles in their legal and technical infrastructure, and maturity of banks. By adopting an international perspective, the book offers a unique comparative analysis that shows what kind of investments are likely to be effective.

Near Real-Time Retail Payment and Settlement Systems Mechanism Design

Author : Zhiling Guo
Publisher :
ISBN 13 :
Total Pages : 61 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Near Real-Time Retail Payment and Settlement Systems Mechanism Design by : Zhiling Guo

Download or read book Near Real-Time Retail Payment and Settlement Systems Mechanism Design written by Zhiling Guo and published by . This book was released on 2015 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: Rapid expansion of e-commerce, along with rising domestic and cross-border payments, has fueled the demand among financial institutions for a cost-effective means to expedite clearing and settlement of low-value retail payments. These are called faster payments settlement systems. Traditionally, retail payments have made extensive use of interbank netting systems, in which payments are accumulated for end-of-day settlement. This approach, known as deferred net settlement (DNS), reduces the liquidity needs of the payment system, but bears inherent operational and financial risks for unsettled intraday payments. As large dollar volumes of retail payments accumulate, real-time gross settlement (RTGS) has been recognized as an attractive option, especially for high-value payments. It permits immediate settlement of transactions during the day, but it brings up other risks and incentives issues that require consideration. This research proposes a hybrid faster payments settlement system involving elements of both DNS and RTGS. We explore a mechanism that supports centralized queuing, permits payment prioritization, reduces payment delays, enhances liquidity, and optimizes the settlement process. We offer a modeling framework and experimental simulations to evaluate the proposed approach. Our evaluation is based on a set of system performance conjectures that support operational performance evaluation and mechanism design-related policy insights. Our results point out the qualities of a cost-effective and value-maximizing mechanism to quickly settle increasingly large volumes of retail payments, while ensuring that the incentives for payment system stakeholders are given careful consideration.

Innovations in Retail Payments

Author : Committee on Payment and Settlement Systems. Working Group on Innovations in Retail Payments
Publisher :
ISBN 13 : 9789291971275
Total Pages : 96 pages
Book Rating : 4.9/5 (712 download)

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Book Synopsis Innovations in Retail Payments by : Committee on Payment and Settlement Systems. Working Group on Innovations in Retail Payments

The Payment System

Author : Tom Kokkola
Publisher :
ISBN 13 : 9789289906333
Total Pages : 369 pages
Book Rating : 4.9/5 (63 download)

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Book Synopsis The Payment System by : Tom Kokkola

Download or read book The Payment System written by Tom Kokkola and published by . This book was released on 2010 with total page 369 pages. Available in PDF, EPUB and Kindle. Book excerpt: "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. Emphasis is placed on the general principles governing the functioning of the relevant systems and processes and the presentation of the underlying economic, business, legal, institutional, organisational and policy issues. The book is aimed at decision-makers, practitioners, lawyers and academics wishing to acquire a deeper understanding of market infrastructure issues. It should also prove useful for students with an interest in monetary and financial issues."--Introduction (Pg. 20, para 8).

The emergence of a retail payment system in the 21st century

Author : Eklou Amendah
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (14 download)

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Book Synopsis The emergence of a retail payment system in the 21st century by : Eklou Amendah

Download or read book The emergence of a retail payment system in the 21st century written by Eklou Amendah and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Contactless Retail Payment System Second Edition

Author : Gerardus Blokdyk
Publisher : 5starcooks
ISBN 13 : 9780655503804
Total Pages : 288 pages
Book Rating : 4.5/5 (38 download)

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Book Synopsis Contactless Retail Payment System Second Edition by : Gerardus Blokdyk

Download or read book Contactless Retail Payment System Second Edition written by Gerardus Blokdyk and published by 5starcooks. This book was released on 2018-11-25 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: What would be the goal or target for a Contactless Retail Payment System's improvement team? How did the Contactless Retail Payment System manager receive input to the development of a Contactless Retail Payment System improvement plan and the estimated completion dates/times of each activity? What may be the consequences for the performance of an organization if all stakeholders are not consulted regarding Contactless Retail Payment System? What are your current levels and trends in key Contactless Retail Payment System measures or indicators of product and process performance that are important to and directly serve your customers? What threat is Contactless Retail Payment System addressing? Defining, designing, creating, and implementing a process to solve a challenge or meet an objective is the most valuable role... In EVERY group, company, organization and department. Unless you are talking a one-time, single-use project, there should be a process. Whether that process is managed and implemented by humans, AI, or a combination of the two, it needs to be designed by someone with a complex enough perspective to ask the right questions. Someone capable of asking the right questions and step back and say, 'What are we really trying to accomplish here? And is there a different way to look at it?' This Self-Assessment empowers people to do just that - whether their title is entrepreneur, manager, consultant, (Vice-)President, CxO etc... - they are the people who rule the future. They are the person who asks the right questions to make Contactless Retail Payment System investments work better. This Contactless Retail Payment System All-Inclusive Self-Assessment enables You to be that person. All the tools you need to an in-depth Contactless Retail Payment System Self-Assessment. Featuring 703 new and updated case-based questions, organized into seven core areas of process design, this Self-Assessment will help you identify areas in which Contactless Retail Payment System improvements can be made. In using the questions you will be better able to: - diagnose Contactless Retail Payment System projects, initiatives, organizations, businesses and processes using accepted diagnostic standards and practices - implement evidence-based best practice strategies aligned with overall goals - integrate recent advances in Contactless Retail Payment System and process design strategies into practice according to best practice guidelines Using a Self-Assessment tool known as the Contactless Retail Payment System Scorecard, you will develop a clear picture of which Contactless Retail Payment System areas need attention. Your purchase includes access details to the Contactless Retail Payment System self-assessment dashboard download which gives you your dynamically prioritized projects-ready tool and shows your organization exactly what to do next. You will receive the following contents with New and Updated specific criteria: - The latest quick edition of the book in PDF - The latest complete edition of the book in PDF, which criteria correspond to the criteria in... - The Self-Assessment Excel Dashboard, and... - Example pre-filled Self-Assessment Excel Dashboard to get familiar with results generation ...plus an extra, special, resource that helps you with project managing. INCLUDES LIFETIME SELF ASSESSMENT UPDATES Every self assessment comes with Lifetime Updates and Lifetime Free Updated Books. Lifetime Updates is an industry-first feature which allows you to receive verified self assessment updates, ensuring you always have the most accurate information at your fingertips.

The Book of Payments

Author : Bernardo Batiz-Lazo
Publisher : Palgrave Macmillan
ISBN 13 : 9781137602305
Total Pages : 0 pages
Book Rating : 4.6/5 (23 download)

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Book Synopsis The Book of Payments by : Bernardo Batiz-Lazo

Download or read book The Book of Payments written by Bernardo Batiz-Lazo and published by Palgrave Macmillan. This book was released on 2016-12-21 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the nature of retail financial transaction infrastructures. Contributions assume a long-term outlook in their exploration of the key financial processes and systems that support a global transition to a cashless economy. The volume offers both modern and historic accounts that demonstrate the constantly changing role of payment instruments. It brings together different theoretical approaches to the study, re-examining and forecasting changes in retail payment systems. Chapters explore a global transition to a cashless society and contemplate future alternatives to cash, cheques and plastic, featuring the perspectives of academics from different disciplines in conversation and industry participants from six continents. Readers are invited to discover the innovation in payment systems and how it co-evolves with changes in society and organisations through personal, corporate and governmental processes.

Payment systems : design, governance and oversight

Author : Bruce J. Summers
Publisher :
ISBN 13 : 9781902182728
Total Pages : 380 pages
Book Rating : 4.1/5 (827 download)

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Book Synopsis Payment systems : design, governance and oversight by : Bruce J. Summers

Download or read book Payment systems : design, governance and oversight written by Bruce J. Summers and published by . This book was released on 2012 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Importance of the Retail Payment System

Author : Hal S. Scott
Publisher :
ISBN 13 :
Total Pages : 75 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis The Importance of the Retail Payment System by : Hal S. Scott

Download or read book The Importance of the Retail Payment System written by Hal S. Scott and published by . This book was released on 2014 with total page 75 pages. Available in PDF, EPUB and Kindle. Book excerpt: This article explores the importance of an efficient retail payment system and develops an integrated framework for evaluation of the retail payment system by policy makers. It examines the costs and benefits of the various types of retail payment system, focusing on the seven desirable benefits of the retail payment system: (1) finality and reversibility; (2) universality (ability to use at point of sale and remotely); (3) recordkeeping; (4) liquidity (maximizing interest earning assets); (5) security and safety; (6) financial inclusion and access; and (7) fungibility and ease of use (seven benefits).The article discusses the Coase Theorem, a proposition from transaction cost economics that provides a useful tool for analyzing transaction efficiency. Increased costs are not bad per se since parties are often willing to incur higher costs to achieve their desired results, e.g. higher costs for a more secure form of payment. Indeed, higher costs may often generate higher value to both parties to a transaction. What one wants to reduce are “friction” costs, costs that neither party wants to pay to achieve a desired result, e.g. higher costs produced by lack of information.While each retail payment system provides certain advantages, e.g. cash for small transactions, overall the analysis suggests that debit and credit cards represent the most desirable payment system for achieving the seven benefits set forth above. This is supported by statistics that indicate that retail payments have increasingly moved toward card payments.

Retail Payment Portfolio Management Solutions

Author : Gerard Blokdyk
Publisher : Createspace Independent Publishing Platform
ISBN 13 : 9781977875792
Total Pages : 124 pages
Book Rating : 4.8/5 (757 download)

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Book Synopsis Retail Payment Portfolio Management Solutions by : Gerard Blokdyk

Download or read book Retail Payment Portfolio Management Solutions written by Gerard Blokdyk and published by Createspace Independent Publishing Platform. This book was released on 2017-10-02 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt: Does Retail Payment Portfolio Management Solutions include applications and information with regulatory compliance significance (or other contractual conditions that must be formally complied with) in a new or unique manner for which no approved security requirements, templates or design models exist? This best-selling Retail Payment Portfolio Management Solutions self-assessment will make you the reliable Retail Payment Portfolio Management Solutions domain master by revealing just what you need to know to be fluent and ready for any Retail Payment Portfolio Management Solutions challenge. How do I reduce the effort in the Retail Payment Portfolio Management Solutions work to be done to get problems solved? How can I ensure that plans of action include every Retail Payment Portfolio Management Solutions task and that every Retail Payment Portfolio Management Solutions outcome is in place? How will I save time investigating strategic and tactical options and ensuring Retail Payment Portfolio Management Solutions opportunity costs are low? How can I deliver tailored Retail Payment Portfolio Management Solutions advise instantly with structured going-forward plans? There's no better guide through these mind-expanding questions than acclaimed best-selling author Gerard Blokdyk. Blokdyk ensures all Retail Payment Portfolio Management Solutions essentials are covered, from every angle: the Retail Payment Portfolio Management Solutions self-assessment shows succinctly and clearly that what needs to be clarified to organize the business/project activities and processes so that Retail Payment Portfolio Management Solutions outcomes are achieved. Contains extensive criteria grounded in past and current successful projects and activities by experienced Retail Payment Portfolio Management Solutions practitioners. Their mastery, combined with the uncommon elegance of the self-assessment, provides its superior value to you in knowing how to ensure the outcome of any efforts in Retail Payment Portfolio Management Solutions are maximized with professional results. Your purchase includes access to the $249 value Retail Payment Portfolio Management Solutions self-assessment dashboard download which gives you your dynamically prioritized projects-ready tool and shows your organization exactly what to do next. Your exclusive instant access details can be found in your book.

Retail Payments

Author : Weltbankgruppe
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (125 download)

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Book Synopsis Retail Payments by : Weltbankgruppe

Download or read book Retail Payments written by Weltbankgruppe and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Retail payment systems play an important role in the smooth functioning of an economy and inefficiencies in the retail payments market can have cascading effects throughout the economy. While there are a number of issues that are responsible for the persistence of inefficiencies in retail payment markets, the lack of a coherent, holistic strategy for the development of retail payment systems is among the most common. In order to develop such a strategy, it is important to economically substantiate the migration from less cost-efficient retail payment instruments (typically cash and paper-based instruments) to more cost-efficient ones (typically electronic payments). Overall, establishing a sound economic baseline for national retail payment systems in terms of costs of different payment instruments can better guide system development and enable high-impact changes. This document is designed to serve as a practical guide for central banks and other public or private-sector stakeholders interested in conducting a study on the costs of day-to-day retail payments in their economies. The results of a cost study based on this methodology can help decision makers to agree on the targeted gains in efficiency in their retail payments system, define an implementation plan for achieving a desired future mix of payment instruments, and provide information for all stakeholders involved in the retail payments market.

Annual Report

Author : Federal Reserve Bank of Cleveland
Publisher :
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4.0/5 ( download)

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Book Synopsis Annual Report by : Federal Reserve Bank of Cleveland

Download or read book Annual Report written by Federal Reserve Bank of Cleveland and published by . This book was released on 1977 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Securities Clearance and Settlement Systems

Author : Mario Guadamillas
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4./5 ( download)

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Book Synopsis Securities Clearance and Settlement Systems by : Mario Guadamillas

Download or read book Securities Clearance and Settlement Systems written by Mario Guadamillas and published by World Bank Publications. This book was released on 2001 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: How to assess securities clearance and settlement systems, based on international standards and best practices.

Governance of Retail Payment Systems

Author : World Bank
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (128 download)

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Book Synopsis Governance of Retail Payment Systems by : World Bank

Download or read book Governance of Retail Payment Systems written by World Bank and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: As innovation in retail payments continues and the systems evolve, effective governance of them becomes more complicated and increases in importance. Retail payment systems are essential for the economy to function efficiently, and more and more, they are something on which all individuals rely on in order to participate in economic life. Effective governance arrangements of retail payment systems are critical not just for the stability, reliability, and efficiency of the financial system but also for its capacity to manage and respond to the changing policy and market environment. Governance calls for focused attention, and retail payment systems deserve and require distinct and specific guidance regarding governance. This is because issues related to retail payment system governance go beyond the typical corporate issues, precisely because of the underlying public interest and the broader public policy objectives of safety and efficiency. This paper provides context and considerations regarding the governance of retail payment systems within this changing environment. It provides examples of approaches specific to the governance of retail payment systems and the different factors that influence and guide them. It refers to related legal frameworks, principles, and reference materials that may be useful in conducting reviews. And it draws on and shares examples of the challenges, frameworks, and arrangements of specific countries and systems. The paper provides specific guidance for practical matters, such as the regular assessment and revision of governance arrangements, the importance of acknowledging public interest, maintaining access rules that are in line with market needs and developments, achieving and maintaining a high degree of transparency regarding governance, and in ensuring that the board and management have the right skills and knowledge. The paper concludes with several themes for consideration that will help authorities and other relevant stakeholders navigate the topic of governance for retail payment systems.