In his opening remarks at the conference, Charles Plosser, president of the Federal Reserve Bank of Philadelphia, noted that innovation in electronic payments has led to major changes in the financial industry. The process of innovation has allowed new entrants into the industry, expanding the availability of consumer credit and permitting more opportunities for smoothing consumption over time....

Speaker recognition refers to the concept of recognizing a speaker by his=her voice or speech samples. Some of the important applications of speaker recognition include customer veri cation for bank transactions, access to bank accounts through telephones, control on the use of credit cards, and for security purposes in the army, navy and airforce. This paper is purely a tutorial that presents ...

You've Got to Give Them Credit by Ken Briggs NCR Today Here's a case study for Catholic Social Teaching. Would taking money to entice students to get credit cards fall inside or outside the lines? In 2009, the University of Notre Dame alumni association took $1.8 million from credit card peddlers (Bank of America, Chase and U.S. Bank doled out such sums)in exchange for promotional privileges, t...

We study the ability of banks and merchants to influence the consumer’s payment instrument choice. Consumers participate in payment card networks to insure themselves against three types of shocks— income, theft, and their merchant match. Merchants choose which payment instruments to accept based on their production costs and increased profit opportunities. Our key results can be summarized as ...

The Malaysian Islamic financial services have developed and thrived in the competitive domestic global market especially last three decades. Government has provided industry conducive enabling environment to catalyse growth development. finance gained prominence been identified as area nation’s sector. Bank Negara Malaysia Annual Report 2020 published on 3 April amongst others highlights that w...

T he exchange of goods conducted face-to-face between two parties dates back to before the beginning of recorded history. Eventually, as trade became more complicated and inconvenient, humans invented abstract representations of value. As time passed, representations of value became more and more abstract, progressing from barter through bank notes, payment orders, checks, credit cards, and now...

Electronic commerce demands different security requirements for its many different applications. In the near future one smartcard may be used for many electronic commerce applications, such as payment systems, access to banking services and financial transactions over the Internet. A role and task based security model (R&T model) can ensure a secure access to many different services through an ...