Money in Motion: Modernizing Canada's Payment System

Electronic Money: A viable payment system?

This paper explores some of the legal and practical issues related to the implementation of electronic money placed in smart cards as a viable online payment system. This is a subject of particular importance as many there are many hopes from the financial industry about the implementation of an electronic currency system will create a great method for small transactions, both online and offline.

King and Payment System Stability in an Electronic Money World

*I wish to thank Leonard Nakamura for helpful comments and conversations that helped shape this paper, although he bears no responsibility for its shortcomings. The views expressed in this paper are those of the author and do not necessarily reflect those of the Federal Reserve Bank of Philadelphia or of the Federal Reserve System.

Electronic Money Laundering Detection in Transactions of Payment Service Providers

Under the coverage of legitimate commerce, criminals money-launder their illicit incomes through the payment gateways provided by Payment Service Providers (PSP). In order to do money-laundering forensics in transactions of PSP companies, a new method was proposed by Hojati et al which is done through detecting deviations from class behavior based on peer group analysis (PGA) method. Our experi...

Making Money: Commercial Banks, Liquidity Transformation and the Payment System

We consider the interaction between the roles of a bank as a facilitator of payments in the economy and as a lender. In our model, banks make loans by issuing digital claims to an entrepreneur, who then uses them to pay for inputs. Issuing digital claims has two effects on a bank’s liquidity. First, some of these claims used as payment are cashed in before the project is over, necessitating tra...

Payment Cards and Money Demand in Belgium