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...

This paper introduces a new credit card payment scheme called No Number Credit Card that can significantly reduce the possibility of credit card fraud. The proposed payment system is loosely based on Kerberos, a cryptographic framework that has stood the test of time. In No Number Credit Card, instead of card numbers, only payment tokens are exchanged between the customers and merchants. The to...

We exploit a unique merchant-level dataset from the monopoly payment card network in China to study payment card pricing. We develop hypotheses associating payment card pricing to card penetration rate, profitability and fraud risk. Our empirical analysis uses the variations in those three factors across industries to show that the card network charges a higher merchant discount for industries ...

Recent roll-outs of contactless payment infrastructures – particularly in Austria and Germany – have raised concerns about the security of contactless payment cards and Near Field Communication (NFC). There are well-known attack scenarios like relay attacks and skimming of credit card numbers. However, banks and credit card schemes often mitigate these attacks. They explain that attacks are imp...

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-...

a study was undertaken in southern peninsular state of india, the tamil nadu state, to assess the farmers’ “willingness to pay” (wtp) for receiving annual health care services to their dairy animals. the districts of the state were categorized as “livestock developed” (ld) and “livestock under developed” (lud) based on initial base line developed. contingent valuation (cv) approach was used to ...

The market for the public transit fare payment system using contactless smart cards is rapidly growing, however, the payment systems provided by different vendors are not interoperable. This paper presents an interoperable payment protocol for the public transit fare payment system using contactless smart cards. We also present implementation results of a PSAM (Purchase Secure Application Modul...

This paper investigates the competition between payment card issuers in an artificial payment card market. In the market we model the interactions between consumers, merchants and competing card issuers and obtain the optimal pricing structure for card issuers. We allow card issuers to charge consumers and merchants with fixed fees, provide net benefits from card usage and engage in marketing a...

In credit based payment systems, con dential data such as PIN and credit card number embedded in an electronic credit card must be protected. The authenticity of an electronic credit card in a payment process is normally achieved through an on-line trusted server such as a nancial institution that runs the payment system. This paper considers some novel secure electronic credit card based payme...

The rapid transition to card payments has sparked a search for effective countermeasures to those who exploit card payment security vulnerabilities to commit payment fraud. A review of these vulnerabilities finds that they are tied together by an information-intensive payment approval system. Especially damaging are large data breaches, which are often the result of criminals gathering informat...