Federal Reserve Payments System Working Papers
Network Competition and Merchant Discount Fees
Fumiko Hayashi
March 24, 2006
A Puzzle of Card Payment Pricing: Why Are Merchants Still Accepting Card Payments?
Fumiko Hayashi
March 2006
Competition and Credit and Debit Card Interchange Fees: A Cross-Country Analysis
Fumiko Hayashi and Stuart E. Weiner
November 2005
Interchange Fees in Various Countries: Developments and Determinants
Stuart E. Weiner and Julian Wright
November 2005
Public policy and the invisible price: competition law, regulation and the interchange fee
John Vickers, Chairman, Office of Fair Trading
May 6, 2005
A Puzzle of Card Payment Pricing: Why Are Merchants Still Accepting Card Payments?
Fumiko Hayashi
December 2004
Federal Reserve Payments System Research Briefing Papers
Paper, Plastic......or Phone?
Terri Bradford
December 2006
This article examines mobile-phone payment and banking alternatives in the United States. It explores prospects for growth, available technologies, and the outlook for one or more technologies coming to dominate the market.
The U.S. Retail Payments System in Transition: Federal Reserve Initiatives
Barbara S. Pacheco
August 2006
This article explores the changing landscape of U.S. retail payments: trends, the Fed's role, and the future of payments.
Contactless: The Next Payment Wave?
Terri Bradford
December 2005
This article explores the evolution of contactless payments, whose use will likely increase and could have an important impact on the payments landscape.
Who's Processing Your Payments?
Terri Bradford and Stuart Weiner
August 2005
This article looks at the many roles nonbanks play in payments activities and the oversight questions that arise as a result.
Payment Types at the Point of Sale: Merchant Considerations
Terri Bradford
December 2004
There are various costs associated with accepting alternative payment types. The costs associated with these payment types are a serious merchant consideration.
A New Era
Stuart E. Weiner
March 2004
The U.S. Payments System has entered a new era — one that is witnessing a marked decline in the use of paper checks and a sharp increase in the use of electronic payments.
Federal Reserve Payments System Selected Papers
Interchange Fees in Australia, the UK, and the United States: Matching Theory and Practice
How well do existing models of interchange fees for credit and debit cards match up with actual practices in various countries? Hayashi and Weiner present results suggesting that a theory applicable in one country may not apply to another and that similar interchange fee arrangements and regulations may well have different implications in different countries.
August 2006
Update: As Payments Go Plastic
Tim Todd
This article is an update to a story featured in the Summer 2005 edition of TEN
Summer 2006
Wave Good-Bye to Swiping: Customers Can Pay Without a Pin, Signature or Cash
Brye Steeves
Banks and credit card issuers are embracing contactless payment, the next phase in payment technology
Spring 2006
The Interchange Fee Debate: Issues and Economics
James M. Lyon
This article is based on a presentation to the Minneapolis Fed's board of Directors on January 19, 2006
As Payments Go Plastic
Toni Lapp
Electronic payments continue to skyrocket. Are providers and merchants getting any closer to common ground on interchange fees
Summer 2005
Understanding Retail Payments: A Closer Look
This is the second of a three-part series on trends, developments, and implications of payments system risk, Federal Reserve Bank of Cleveland
Trends in the Use of Payment Instruments in the United States
Spring 2005
2004 Federal Reserve Payments Study
December 2004
A Guide to the ATM and Debit Card Industry: 2006 Update
Federal Reserve Studies Confirm Electronic Payments Exceed Check Payments for the First Time
December 2004
The Use of Checks and Other Noncash Payment Instruments in the United States
August 2002