Electronic-funds-transfer

Just an addendum to my previously submitted review: This review reflects my personal opinion and not necessarily that of the American Bar Association or any of its committees or subcommittees. Thanks!

As the chair of the American Bar Association's Subcommittee on Electronic Commerce, I recently reviewed this book for an upcoming issue of the South Carolina Law Review. In that review, I noted that few other works have addressed the intersection of electronic commerce and banking law, and characterized the book as "a consistently impressive combination of a treatise and a client memorandum." I found particularly useful the authors' detailed, informed, and intensely practical surveys of electronic payment technologies, regulatory actions, and judicial decisions. Separate sections, which can be read independently, are devoted to the missions and relevant activities of various regulatory agencies such as the Federal Reserve Board and the Federal Deposit Insurance Corporation. Other chapters discuss security and privacy of online banking systems, the operation of stored-value systems such as Mondex and Visa Cash, online brokerage and insurance services, intellectual property online, and Internet-based jurisdiction. I believe that this book is useful not only for reference but as a survey of developments in this rapidly-moving area. In my opinion, someone who sat down and read 50 pages a night of 21st Century Money, Banking and Commerce could get painlessly in two weeks more substantive information than most seminars on electronic commerce could deliver.

I have read "The Latin American Conspiracy" and found it not only interesting but motivating. Van Geldern brings America's financial vunerability home in a clear and uncomfortably vivid way. So uncomfortable, I had to re-think my views of America as the world's leader in monetary affairs. But it was also fun and full of action, intrigue and Holloywoodesque drama. I sincerely recommend this book for anyone concerned about our national financial standing and what possible alternatives we have if money does become worthless. S.B. Thompson

I have read "The Latin American Conspiracy" and found it not only interesting but motivating. Van Geldern brings American's financial vunerability home in a clear and uncomfortably vivid way. So uncomfortable, I had to re-think my views of America as the world's leader in monetary affairs. But it was also fun and full of action, intrigue and Holloywoodesque drama. I sincerely recommend this book for anyone concered about our national financial standing and what possible alternatives we have if money does become worthless. S.B. Thompson

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.

This book is good only for people who are really discovering the online world. Basically it's a list of web links with a one page comment giving a high-level summary on the site's content. Don't expect to find advanced tips driving you to unknown features of a web site. Some of the sites mentioned don't exist anymore, but this is understandable given what happened in the dot com industry. On the positive side, it's interesting to note that even if the book is published by Microsoft, the Microsoft's web sites are not getting more visibility (some actually would deserve it).

Get a cup of coffee, close the door, log on to the internet, position this book on your lap, and invest a little time in your financial future. I'm 26 years old, just starting out, and needed a good guide to cover the basics of budgeting, investing, and making smart financial decisions. This book, paired with the tool of the World Wide Web, gave me exactly what I wanted... with plenty of information to spare. The book guided me to online calculators,informative websites, and other money management tools. I now have a clearer view of where I am today, financially, where I will be if I make no changes, and where I could be by setting realistic goals. By focusing on all things financial on the internet, the book was more than a book: it served as an interactive, hands on financial planning seminar. Revolutionary, proactive, and advocating of every person wanting to follow through on reasonable financial goals. Well done!

We finally have a simple easy to use guide on how to use the computer for true money management.This book is well written and has some great illustrations. We need more books like this.

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.