Charging Ahead: The Growth and Regulation of Payment Card by Ronald J. Mann

By Ronald J. Mann

This ebook tells the tale of charge cards world wide: why humans use them, the consequences at the economies of the international locations the place they be successful, why they're used so another way worldwide, and what can be performed to answer the issues they reason. It features a wealth of knowledge from worldwide, attention-grabbing narratives concerning the modifications from kingdom to state, and penetrating analyses of regulations that may stem misuse of playing cards.

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Extra info for Charging Ahead: The Growth and Regulation of Payment Card Markets

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Specifically, the credit card is associated with increases in spending, borrowing, and financial distress. It is not clear why that is the case, although academics have suggested it may be due to any number of factors: cognitive impairments, compulsive behavior, excessive or unfair advertising, or fraudulent contracting practices. Chapters 4 and 5 discuss that problem. Specifically, I examine the quantitative relations between credit card use and consumer borrowing and also between credit card borrowing and financial distress.

It is clear from the annual reports of the acquired entities that these acquisitions would increase the profitability of the monolines even if the acquiring entities made no changes in business operations and were unable to create any synergies with their existing customer bases. S. bank card issuers. The credit card serves two distinct functions. It is a device for both payment and borrowing. That juxtaposition is both a major reason for the card’s value and the source of many of the problems that can be traced to the use of credit cards.

Although this is not true in all countries (Japan is a conspicuous counterexample), merchants in the United States ordinarily can contract with a single entity to process most if not all of their credit card transactions. Originally, all acquirers were banks, but in recent years, the market has become dominated by technology companies that specialize in efficient processing. Thus, First Data Corporation now processes about half of all general-purpose credit card transactions in the United States.

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