E-Payment Strategies of Bank Card Innovations
نویسنده
چکیده
This paper is concerned with the business strategy in managing payment innovations. Particularly, the study looks at the smart card electronic cash (e-cash) innovation in the financial service industry. The smart card e-cash has yet to overcome obstacles to its diffusion. Given the e-commerce opportunity, banks and non-banks compete to deploy smart card technology for Internet use. A review of previous payment innovations is also carried out to provide suggesting direction on the innovation proliferation. The paper firstly examines the payment market on the whole (the global review). The subsequent section discusses the challenges in the e-payment world and the strategies to support the diffusion of the smart card innovations.
منابع مشابه
Electronic Banking Capacities and Transparency in the Iranian Banking Network
Innovations in electronic banking in Iran have led to the development in capacities such as payment instruments and transactions by cards, which are known as electronic payment equipment in the Iranian banking network. Financial supervision is required to be increasingly based on reporting and regulatory processes to efficiently and proactively monitor risk and compliance at banks and financial...
متن کاملRegulating Iranian Card payments System as a two sided market
This paper examines the necessity of regulating the Iranian card payments system (SHAPARAK) based on the theory of two-sided markets. The expansion of the payment card system in recent years has arisen some questions regarding the role of all kinds of costs and expenses such as interchange fees, cardholder fees, merchant fees, and network externality in balancing the market. Since there is only...
متن کاملRisk Management for Third Party Payment Networks
The payment industry has been characterized by a small number of players that operate the schemes for the facilitation of credit and debit card payments. Over the years, various initiatives have been taken in order to increase competition and hence cost efficiency within the industry. One of the latest efforts is the introduction of Payment Service Directive II (PSDII) within the European Union...
متن کاملInnovations in Small Dollar Payments
On September 25, 2001, the Payment Cards Center of the Federal Reserve Bank of Philadelphia sponsored a workshop on innovations in small dollar payments. The moderated discussion was led by Richard Corl, an entrepreneur with 25 years of experience in the electronic payments industry. From his perspective as a director of Ecount, a small dollar payments innovator, Corl described a range of chall...
متن کاملThe Working Model of an E-payment System
In this paper, we propose an Internet payment system which uses a payment gateway to handle the credit card payment transaction between customers, merchants and banks. To test and evaluate the payment system, we build an online travel agency called E-Travel, which simulates a real-life E-Payment application. On-line travel services including flight reservation, selling of travel accessories, to...
متن کامل