We proposed in 8] a novel scheme to implement an anonymous credit card that protects privacy while providing the security, record-keeping and charging mechanism of conventional credit cards. The key idea is to use cryptographic techniques to allow two parties to communicate without knowing each other. In this paper, we present a formal method to study collusion in the multi-party communication ...

Credit cards that can be used only for health care expenses are growing in popularity in the United States, a trend that is putting money in the pockets of medical professionals but may be hurrying patients down the road to personal bankruptcy. Over the past three or four years, US financial institutions have begun partnering with health care providers to offer medical credit cards to people wi...

Despite that existence of variety of electronic payment systems is among critical success factors of ecommerce, it is surprising to note that few studies were carried about the preferences of customers to these alternatives. This study evaluates the degree of current use, satisfaction, intention to adopt and perceived obstacles toward existing electronic payment systems. Data were collected fro...

Payment card associations offer both debit and credit cards and, until recently, engaged in a tie-in on the merchant side through the so-called honor-all-cards (HAC) rule. The HAC rule came under attack on the grounds that the credit and debit card markets are separate markets and that the associations lever their market power in the “credit card market” to exclude on-line debit cards and there...

Nowadays, many bank cards are smart cards (i.e. integrated-circuit cards) based on the EMV specifications for payment systems. This paper specifies how biometric on-card verification can be integrated into EMV debit and credit cards in a backwards-compatible way. The biometric verification does not change the EMV transaction flow outside the cardholder-verification step. The proposed payment sy...

The purpose of this section is to give an overview on smart cards used in the telecommunications field by detailing the main building blocks, their functions and how they are related to each other. Generally speaking, smart cards belong to the group of identification cards using a ID--1 format formally defined in ISO Standard 7810, Identification Cards -Physical Characteristics. This standard s...

The financial consequences of compulsive buying are obvious given the large amount of debt reported by compulsive buyers in many studies. Credit cards allow consumers to borrow money very easily in order to satisfy their desire to purchase. In two web-based experiments, we found that compulsive shoppers often overspent and were rarely influenced by price. Their overspending was partially mediat...

This paper explores a reason why retailers pay such large merchant fees to credit card issuers. Credit cards as media of exchange are introduced to a New Monetarist model in which exchange occurs in alternating centralized and decentralized markets. Sellers who exert high (low) effort produce a good with a high (low) probability of being high quality. The quality of the good is revealed only af...

E-commerce customers may have a problem when paying for the purchase of a major item, if its price is larger than the available credit on their credit card. In the brick and mortar world, this problem would be solved by paying part of the bill with cash or with a second credit card. In e-commerce, however, this has not been an option. Furthermore, even when a customer could pay the whole purcha...

We test the Becker-Murphy model of rational addiction with New Zealand credit card debt data. Our results clearly favour the rational addiction model over the myopic, backward-looking model. The estimated short-run and long-run price elasticities are-0.58 and-2.32 respectively, and the estimated rate of time-preference is 6.7% per quarter.