This paper gives information about banking operations. Only a few years ago, the emergence of new, electronic payment technologies such as debit cards and PC banking led many financial services industry observers to predict the imminent arrival of a paperless payments environment. Because these new technologies promised greater efficiencies, enhanced...
This paper gives a small-business owner an overview of how to build a system for accepting online payments at an e-commerce site. .So you have a great new product or service to sell, have built a nifty Web site, and are ready to sell your product. You have settled on...
With deregulation leading to new competition in the Taiwanese credit-card processing market, National Credit Card Center NCCC was looking for new ways to maintain its competitive advantage. EDS helped implement a new end-to-end processing system that cuts costs, improves service and enables a wider range of electronic payment products.
NACHA's Council for Electronic Billing and Payment has published a white paper describing business-to-business electronic payments methods. The white paper, authored by the Council's Business-to-Business Task Force, develops a framework that businesses can use to evaluate the comparative benefits of specific electronic payment mechanisms. "The purpose of the white paper...
At the Association for Financial Professionals' 2005 annual conference, Business Finance brought together a panel of treasury professionals to discuss Check 21, remote deposit capture, the proliferation of payment systems and payment fraud. This article provides the views, based on the discussion with those treasury professionals, on electronic payments system.
The background for the energy is the coming order-of-magnitude increase in the volume and variety of electronic payments, and the recent coordinated move by the major finance standards groups and the major banks of the world to define a suite of XML-based electronic payment messages called the IST Electronic Payment...
Despite the growth in electronic payments, it is obvious that paper payments are not going to totally disappear any time soon and companies will still need to collect them cost effectively and efficiently. As a result, some financial executives and some providers - are wondering what the migration to electronics...
Over the past several years, the emergence and adoption of electronic payment instruments have acutely affected check usage. Today, the rapid growth of online bill payment looks to threaten checks' last redoubt. However, bill payment technology is still in its adolescence; the interplay of many stakeholders in the industry, including...
Many corporate struggle under the burden of ever increasing electronic payment volumes, maddening complexity in terms of formats and interfaces, lack of end-to-end payment information, suboptimal straight through processing and thus huge amounts of manual labor and a lot of opportunity to further improve the company's overall working capital. The...
Check 21 legislation and a consumer shift from paper checks to electronic payment mechanisms are changing the payment systems marketplace. In order to realize financial gains afforded by these two influences, banks need to have an image-enabled payment system in place that will support check images as well as other...
This article depicts about a research which reveals that a combination of electronic payment types are poised to replace the check as the primary vehicle for transferring funds between two commercial parties. The research cites several factors that signal the approaching demise of check payments, including recent Federal Reserve estimates...
Enter Check 21, accounts receivable conversion ARC and a slew of electronic payment alternatives from NACHA. These combined with evolving consumer habits and advances in retail lockbox technology, are causing many business to wonder if they need to change their process or if it should be their process. For many...
Payment processing operations whether internal or outsourced must continually invest in maintaining the technology required to deliver maximum unit productivity at minimum unit cost. It is also becoming increasingly obvious that investments in hardware, software and expertise related to accounts receivable check ARC conversion, Check 21, online bill payment and...
This paper examines the protections available to users of various electronic payment vehicles that fall victim to fraud, discover an error on their statement, or have a dispute with a merchant after making a purchase. Specifically, it examines in detail the federal and state laws that protect consumers in the...
Surveys conducted by the Federal Reserve confirm that electronic payment transactions in the United States have exceeded check payments for the first time. The number of electronic payment transactions totaled 44.5 billion in 2003, while the number of checks paid totaled 36.7 billion, according to recent surveys of U.S. depository...
E-payments can be widely defined as payments that are initiated, processed and received electronically. The purpose of this paper is to provide an overview of a segment of e-payments, examining the latest developments and issues related to recent innovations in the area of retail payments. The scope is on e-payment...
This paper focuses on e-payments which are the heartbeat of many e-government applications today. In order to transact business electronically with citizens, employees, other governments, and businesses, governments must develop secure ways to transfer value. Because citizens are skeptical about the security of electronic transactions, payment applications must convey competence...
The United States has a heavily paper-based retail payment system compared with many other developed economies, but the shift to electronic payments has been bigger and more decisive than commonly perceived. For the first time ever, check use declined in the mid-1990s, and among electronic payments, the adoption of debit...
At a time when countries are searching for new sources of economic stimulus and competitiveness, a white paper from Visa and the Commonwealth Business Council sheds light on the economic development value of electronic payments. The paper examines the global shift from paper-based transactions towards electronic payments and identifies specific...
Strained IT budgets, combined with continuous technological change, are driving an increasing number of organizations to consider outsourcing their non-core business activities. Outsourcing transaction processing, such as disbursements and invoices, can create value by providing access to best practice payment processes, reducing overall processing costs, and facilitating the transition from...
