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Payment Systems From the Salt Mines to the Board Room

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ISBN-10: 0230202500

ISBN-13: 9780230202504

Edition: 2008

Authors: Dominique Rambure, Alec Nacamuli

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Description:

Payment systems are changing profoundly through regulation, technology and competition from new entrants. This is a comprehensive introduction and reference on payment systems, covering their structure, international systems and settlements, and focusing on electronic transfers. It concludes with the future of the payments business.
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Book details

Copyright year: 2008
Publisher: Palgrave Macmillan
Publication date: 9/17/2008
Binding: Hardcover
Pages: 235
Size: 5.75" wide x 8.50" long x 0.75" tall
Weight: 0.946
Language: English

List of Figures
List of Tables
Acknowledgements
Foreword
Commonly Used Abbreviations and Acronyms
Introduction
The Structure and Economics of Payment Systems
The Architecture of Payment Systems
Introduction and basic concepts
Participants in a payment system
Payment operations
Standards
Efficiency criteria for payment systems
Payment Instruments
Characteristics of payment instruments
Cash
Cheques
Credit transfers
Direct debits
Cards
Payment channels
Statistics and comparative trends
Cross-Currency Payments and SWIFT
Correspondent banking
The SWIFT network
The correspondent banking and clearing business
Remittances
Risks in Payment Systems, Oversight and Security
Analysis of risks in payment systems
Risk management
Regulatory oversight
Fraud prevention, security and anti money laundering
The Role of Payment Systems in the Economy
The economic role of payment systems
Payment systems and money velocity
Network economics
Overview of Current Payment Systems
European Payments and SEPA
SEPA
The Payment Services Directive (PSD)
The TARGET2 RTGS system
Clearing and settlement mechanisms (CSMs)
The EBA payment systems
The SEPA schemes and frameworks
Business and operational impact of SEPA
The UK payment systems
The US Payment Systems
Fedwire
The Federal Reserve national settlement system
CHIPS
The ACH Network
Cheques
Cards
Trends
Overview of the US securities clearing and settlement systems
Major Asian Payment Systems
Payment and securities clearing and settlement systems in Japan
Payment and securities settlement systems in China and Hong Kong SAR
New Entrants
Remittance service providers
Non-bank issued credit cards
Transport cards
Mobile phones and mobile payments
Paypal
Earthport
The Settlement of Trading Activities
The Settlement of Foreign Exchange Trades and CLS
The settlement of foreign exchange trades and settlement risk
CLS
CLS operating procedures and timetable
Risk and liquidity management in CLS
Market and business impact of CLS
Securities Settlement
Securities clearing and settlement systems
Risks in securities settlement systems
Settlement risk management
Consolidation of exchanges and the clearing and settlement landscape
TARGET2-Securities
Wholesale Payment, Cash Management and Trade Facilitation Services
The Requirements of Corporations
The role of the treasury department
Electronic invoicing
Supply chain finance (SCF)
Corporate Banking Services
Electronic banking and communication channels
Reporting, cash management and treasury services
Electronic invoicing and supply chain financing services
Fees and remuneration
Selection criteria
Banks and the Payments Business
The Banks' Back Offices
Payment processing and STP
Departments involved
Operations
IT systems
Payments as a Business for Banks
Payments within banks' overall strategy
The economics and profitability of payments services
Organization and governance
Development of an enterprise-wide payments strategy
The Future
Where is the Payments Industry Going?
Instruments
Payment systems architectures, schemes, standards and operators
Risk and fraud management
Governance and oversight
Settlement of financial markets trading
Regional developments
Corporate banking
New entrants
Operations
Revenue shifts and shrinkage
Conclusion
Appendix
Notes
Bibliography and Useful Websites
Glossary
Index