Electronic-Funds-Transfer-Systems

This guide is packed with great information to get whatever it is you're looking for in San Francisco. I found the book to be user friendly, down to earth, and honest. Since I am a vinyl junkie, I was thrilled to look in the index and find the heading for "Record Stores". This guide was extremely useful when exploring "The Haight", my favorite area of The City. Bravo to the contributors, and to the Manic D production team, for this great Second Edition!

This guidebook is a wonderfull resource if you're just visiting or planing to stay awhile. Each section is written by a different person, with different interests and perspectives (bars, thrift stores, piercing, poetry readings, bookstores, etc.) It also has useful sections on Oakland and Berkeley. If you're thinking of moving to the "Bay Area", there are handy guides to housing and employment. It's a great book, and worth every penny!

The future of digital money may be a way to effect economic government -- the replacement of the coercion of the state by voluntary institutions. According to this book, advances in encryption will allow digital money transactions to be verifiable by induplicatable signature, yet encrypted to be utterly indecipherable by states (or other busybodies). The Future of Money in the Information Age is a great collection of essays that together paint an optimistic picture of a near future in which states will find it more and more difficult to exercise control of money -- their lifesblood. Highly recommended.

Guidelines for Electronic Payment of Healthcare Claims Using the ANSI Asc X12 electron by James J. Moynihan, Marcia L. McLure

Experienced financial professionals with years of practical operating experience wrote this recently published book. Therefore, it is not surprising that this book methodically covers the principal payment systems (checks, ACHs, wires and global transfer systems - CHIPS and SWIFT), their basic workings, risk, and how to manage those risks. The subject matter of this book is critical for corporate financial managers - CFOs, Treasurers, Cash Managers, Controllers - as well as bank operations officers, and bank and corporate auditors.

Since check fraud is currently a $10 billion a year problem an entire chapter is devoted to checks, their characteristics, the prevailing regulations, the risk parameters, and how to manage that risk including using internal controls, bank controls, check stock controls, and positive pay controls. The authors warn corporations that they should be alert to "gross negligence and willful conduct clauses" in bank agreements which may put undue and unnecessary risk on them.

Wire transfer, defined to include FedWire, CHIPS and SWIFT, are covered in two chapters. The first chapter covers the transfer from the originating bank to the receiving bank. The next topics reviewed include: liability for fraudulent transfers, managing risks in the links of the wire systems, and the bank's perspective on wire transfer risk. The second chapter on wire transfers focuses on completing the transfer and the rules for handing errors.

The Automated Clearing House (ACH), the second type of electronic funds transfer, in addition to wires, is covered in a separate chapter. A basic discussion of this payment type is provided along with a definition of the types of ACHs and how they are processed. The ACH origination process is covered and the warranties and liabilities of the originating bank are examined.

Other topics reviewed in this section include ACH prenotification, reversal of duplicate and erroneous payments. The authors then examine the receipt of entries, returns, change and acknowledgements. Lastly, settlement and accountability, cross-border payments, US Government payments, and ACH payment system risks are reviewed.

[In light of the recent coverage in an August 2003 issue of the American Banker newspaper, corporate treasury managers should make sure that they setup special ACH debit blocks on their bank accounts to reduce the risk of ACH fraud.]

An entire chapter is devoted to Electronic Commerce and Internet payments. Corporate financial managers are well advised to bone up on this material to ensure that they protect their corporate assets from potential fraud in these two exploding areas. There are a cyber crooks and hackers who are looking to defraud any company that doesn't protect itself on the Internet. Also included in the book is an 8-page glossary.

The last chapter covers the specifics of controlling corporate payment system risks as opposed to risks faced by financial institutions. Included in this chapter is a 5-page "Risk Management Crime Coverage Checklist." Additional material covered in this chapter are pointers on handling payment systems disruptions, managing check, wire, and ACH fraud.

In conclusion, this book covers all the bases on payments system risk. The readers will obtain a comprehensive view of the entire subject matter and be better prepared to face the challenges ahead once they realize the importance and understand the vulnerabilities in the existing payments systems.

This is an excellent review of the e-commerce industry but don't be misled: it is NOT a how-to book in the classic sense; there are no step-by-step instructions or specific strategies. In this sense, the title is misleading. In all other respects it is a very good book.

I think his analysis is compelling, but can you really establish a methodology in a time when the nasdaq in constantly fluctuating

I can say without hyperbole that this book is 1,000 times better than any book ever published. Electronic commerce jumps to life and dances on the pages in front of you.

I believe this book is a good technical study in the bits and bytes of how payment systems work, yet lacks the real-world applications, value propositions, and financial information on why some payment systems work, and many others are complete failures in the real world. Technology is only one segment of the payment arena.

this book has gathered information about payment system as good as possible.I hope every one that like E_banking technology see this book!

For those who are seeking the alternative topologies in Electronic Payment systems this book is a very good starting point with some very good references as well. Gives a good insight on the mechanisms as well. One downside is that too much emphasis is put on maths for security related subject compared to the general aim and tone of the book.

The authors both are long-time consultants for Visa and it is very apparent in this book. The discussion of MasterCard, Discover, and American Express is limited. The treatment of various legal actions (Nabanco, US DOJ, WalMart, duality) is one sided. There is minimal study of the economics of the business from vantage points (consumer, merchant, acquirer, Issuer, co-branding partner, etc.) other than the card association.

It's clear from some of the statistical material prsented that Visa particpated in the book.

Ever see JAG? It's about a real portrayl of the Navy & Marine Corp as this is of the card industry.

I picked up this book because I have always been interested in the history of money and the power of gold as currency. If you are fascinated by the concept of money and how it makes the world go round, Paying With Plastic will whet your appetite.

To many a layperson, paper money has intrinsic value ostensibly because it is backed by gold. That, is furthest from the centre of gravity. Since Bretton Woods, paper money has not been backed by gold and has absolutely no value. The "value" of paper money is perceived and has "value" only because governments say so and because we believe in it. In fact, paper money forms only a very small portion of the money that is in circulation. These days, money is in the form of digits, bits and bytes - expressed as numbers in some computer harddisk.

Paying With Plastic explores a new form of money and how credit cards are the latest form of money - evolving from metal coins, bills of exchange, and paper money. The book traces the early and painful development of what was initially a clumsy mode of payment to what is today one of the most effecient, organised and widespread form of payment.

Paying With Plastic is the leading book of its kind - thorough, yet readable. If you are interested in the concept of money and how the credit card system works, then this book is for you.

The authors bring disciplined methodology to the study of "industrial development," using credit cards as a case study. The book is useful not just for its anecdotal review of how credit cards got started & how they are used; and not just for the wealth of statistics it provides on how card & other payment usage has changed over the years; but most importantly, by putting some structure around all that material so that we can understand it coherently. So many books on banking & on industrial development (like things by guru Tom Peters) are just so many anecdotes strung together for 100s of pages, with no "system" for understanding what's being talked about. This book's strength is that it provides the reader with a way of interpreting not only what's in the book but with a way of understanding the incessant new developments in the industry that we read about in the trade press every day. I recommend this book highly to anyone in banking or interested in what's going on in the payments system.

This book has everything that you may need to know about smart cards. It contains a series of well-written in-depth articles by the experts in the field. Smart cards are the technology of the future -- and they may remain that way. The previous review predicts a smart card revolution for the year 2000. Here it is. Y2K has come and gone. Where are my smart cards? The reality is that the most pervasive use of smart cards has come about by government directive. The King of France has decreed that you cannot use a phone without having a smart card. Much touted experiments for smart card use in the United States have been failures. These include smart card electronic purses for the Atlanta Olympics and for Manhattan. It may just be that smart cards are not a compelling technology.

Smart cards are poised to invade two billion wallets and purses by the year 2000. If you have a credit card, chances are it will have a spider-like chip holding all your essential data. Even your mobile phone uses a smart card. But there are more applications to come, and with it diverse business opportunities for the organisation or individual who is always looking ahead. Smart Cards, edited by Catherine Allen and William Barr with Ron Shultz, breaks the mindset of looking at smart cards merely as an electronic purse. It expounds on the many possibilities that this wafer-thin chip-in-a-card can do to revolutionise the finance and retail sector. In short, it talks about smart-card technology. But don't just take it from me or any of the authors--arrive at your opinion from the cast of major players in the smart-card industry that the authors have assembled. Besides streamlining commercial transactions, the smart card will also have a hand in decentralising the storage of personal information. Hospitals will be able to access a patient's medical history just by reading the individual's smart card, thereby saving precious time in an emergency. At the airport, the smart card will make queues at the check-in counter disappear as travellers can check in electronically with their cards. Besides focusing on the application benefits of smart cards, this book also addresses the stumbling blocks of electronic commerce, namely privacy and security issues. A whole section of the book is catered not only to the issues of privacy but also the existing technologies to counter this problem. Innovative business individuals interested in leap-frogging ahead will benefit most from this book as it forces you to re-think standard business models in electronic commerce. Smart Cards also provides fertile ground for new smart-card applications because it showcases many ongoing trials and pilot projects. My only disappointment with the book is that its research is mainly based on corporations in the United States, a country whose advanced telecommunications infrastructure is actually a disincentive to the adoption of smart-card technology. Europe and some part of Asia, on the other hand, have been more than enthusiastic in their use of smart-card technology, and should be able to offer more real-world insights into the nature of the beast. On the whole, Smart Cards provides a good reading of the pulse of the industry and gets you up to speed with the business opportunities of "intelligent cards" that may soon slim that inch-thick wallet of yours--maybe in more ways than one!

Surveys the different kinds of Internet-based money exchange systems available at the time of book writing. Also includes some interesting interviews and monetary history. Even though the situation has changed since the book was written, it still is worth reading for basic knowledge of the area.

This book describes SET payment process & protocal standands clearly. I think someone who is new to SET process can read this book and it would definetly be helpful.