Paying with plastic : the digital revolution in buying and borrowing / David S. Evans and Richard Schmalensee.

Format:

Book

Author/Creator:

Evans, David S. (David Sparks), 1954-

Contributor:

Schmalensee, Richard.

Language:

English

Subjects (All):

Credit cards--United States.

Credit cards.

Bank credit cards--United States.

Bank credit cards.

Electronic funds transfers--United States.

Electronic funds transfers.

Electronic commerce--United States.

Electronic commerce.

Consumer credit--United States.

Consumer credit.

Physical Description:

1 online resource (384 p.)

Edition:

2nd ed.

Place of Publication:

Cambridge, Mass. : MIT Press, c2005.

Summary:

Annotation The payment card business has evolved from its inception in the 1950s as a way to handle payment for expense-account lunches (the Diners Club card) into today's complex, sprawling industry that drives trillions of dollars in transaction volume each year.<i>Paying with Plastic</i>is the definitive source on an industry that has revolutionized the way we borrow and spend. More than a history book,<i>Paying with Plastic</i>delivers an entertaining discussion of the impact of an industry that epitomizes the notion of two-sided markets: those in which two or more customer groups receive value only if all sides are actively engaged. New to this second edition, the two-sided market discussion provides useful insight into the implications of these market dynamics for cardholder rewards, merchant interchange fees, and card acceptance. The authors, both of whom have researched the industry for more than 25 years, also examine the implications of the recent antitrust cases on the industry as well as other business and technological changesincluding the massive consolidation brought about by bank mergers, the rise of the debit card, and the emergence of e-commercethat could alter the payment card industry dramatically in the years to come.

Contents:

Contents; Preface; Acknowledgments; 1 - Plastic Cards; 2 - From Seashells to Electrons; 3 - More Than Money; 4 - From Gourmets to the Masses; 5 - From Sardi's to Saks.com; 6 - It Takes Two to Tango; 7 - Co-opetition and the Payment Card Ecosystem; 8 - System Wars; 9 - Issuer Brawls; 10 - Backroom Battles; 11 - The Antitrust Wars; 12 - On the Brink; 13 - And They Don't Take Cash; Sources and Notes; Selected Bibliography; Index

Notes:

Description based upon print version of record.

OCLC-licensed vendor bibliographic record.

Includes bibliographical references (p. [321]-352) and index.

ISBN:

0-262-27243-1

OCLC:

560589229

Publisher Number:

9780262050777