Paying with Plastic: The Digital Revolution in Buying and Borrowing / Edition 2

Paying with Plastic: The Digital Revolution in Buying and Borrowing / Edition 2

by David S. Evans, Richard Schmalensee
     
 

ISBN-10: 026255058X

ISBN-13: 9780262550581

Pub. Date: 01/01/2005

Publisher: MIT Press

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. Paying with Plastic is the definitive source on an industry that has revolutionized the way we borrow and

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Overview

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. Paying with Plastic is the definitive source on an industry that has revolutionized the way we borrow and spend. More than a history book, Paying with Plastic 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 changes -- including the massive consolidation brought about by bank mergers, the rise of the debit card, and the emergence of e-commerce -- that could alter the payment card industry dramatically in the years to come.

The MIT Press

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Product Details

ISBN-13:
9780262550581
Publisher:
MIT Press
Publication date:
01/01/2005
Edition description:
second edition
Pages:
384
Sales rank:
760,863
Product dimensions:
6.00(w) x 9.00(h) x 0.75(d)
Age Range:
18 Years

Table of Contents

1Plastic cards1
2From seashells to electrons25
3More than money53
4From gourmets to the masses87
5From Sardi's to Saks.com115
6It takes two to tango133
7Co-opetition and the payment card ecosystem159
8System wars185
9Issuer brawls213
10Backroom battles247
11The antitrust wars267
12On the brink297
13And they don't take cash317

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