Public authorities have recently intervened in the U.S. payment card industry to address controversy over the growing fees charged to merchants for processing debit card transactions. The interventions, by Congress and by the Department of Justice, aimed to give merchants and consumers some relief from the high fees and to promote competition within the payment card industry. The new regulation...

This paper presents a model of a card payment system to address the pricing and rules that govern such systems. It evaluates the social optimality of privately set interchange fees and the adoption of a rule by payment systems to prevent merchants surcharging for card transactions using two extremes of merchant pricing—monopolistic pricing and perfect competition. Both types of merchant pricing...

When a customer owns multiple credit cards, the selection of a credit card for a purchase payment is rarely done systematically. Furthermore, the customer has no online options to pay a high cost item with multiple cards. This paper presents a flexible Payment Recommender (PR) system that helps the customer to make a decision on identifying a group of credit cards, called Virtual Card, which pr...

Current payment methods, that are based on cash and magnetic strip cards, are either expensive to use, or they do not offer enough security for payments. Smart card based payment systems offer several benefits over currently used cash and magnetic strip cards. Building and delivering smart card based payments systems is not an easy task. It includes several risks and some of them are addressed ...

abstract following the advances in mobile communication and information technology, smart phones have been used in a wide variety of commercial, social, entertainment, file sharing and health transactions and applications. the current procedures in healthcare environment for patient registration, appointment scheduling and payment are time consuming and somehow tiresome. traditionally, patients...

Consumers’ ability to purchase goods and services from anywhere and at any time is a critical factor in the ubiquity of e-commerce. Credit cards enable a medium of exchange that facilitates the global e-commerce marketplace. Credit card providers’ and bank account service sites provide powerful tools for the individual to manage their credit card accounts, and allowing payment of monthly credit...

Credit card is one of the convenient way of payment in online shopping. In this on line shopping, payment is made by giving information like card no, security code , expiration date of the Credit card etc . To rectify the risk factors of using the credit card, every card holder’s spending method is modeled by using HMM. By using this authenticated security check the information of transaction i...

Near Field Communication (NFC) technology allows for the implementation of novel contactless payment systems in stationary retail. In this paper, we quantitatively analyze the impact of such systems on a retailer's payment costs on the example of real-world data from a Swiss food retailer. Our results indicate that the introduction of contactless payment under current card fee models would in v...