How Do Minimum Payment Changes Affect Credit Card Arbitrage?

Credit Card Debt and Payment Use

Charles Sprenger and Joanna Stavins Abstract: Approximately half of credit card holders in the United States regularly carry unpaid credit card debt. These so‐called “revolvers” exhibit payment behavior that differs from that of those who repay their entire credit card balance every month. Previous literature has focused on the adoption of debit cards by people who carry credit card balances, ...

Securing credit card transactions with one-time payment scheme

Traditional credit card payment is not secure against credit card frauds because an attacker can easily know a semisecret credit card number that is repetitively used. Recently one-time transaction number has been proposed by some researchers and credit card companies to enhance the security in credit card payment. Following this idea, we present a practical security enhancement scheme for one-...

NFC mobile credit card: The next frontier of mobile payment?

With the advancement of mobile devices and the emergence of Near Field Communication (NFC) technology, payment today is a mere wave-of-the-phone. However, the adoption of mobile credit card (MCC) is still not widespread despite its potential as documented. Premised on this, the study extends the Technology Acceptance Model (TAM) with four additional constructs. The moderating effect of gender w...

Do Consumers Really Want Credit Card Reform ?

E arlier this year, several bills were introduced in Congress to curb what many consumer advocates have described as abusive credit card practices. These bills were intended to keep credit card issuers from penalizing consumers for paying their card balances in full each month. In unveiling one of the measures, Congressman John LaFalce declared, “[Consumers] should not be tricked or trapped int...

A Simple and Secure Credit Card-Based Payment System