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About: Payment is a(n) research topic. Over the lifetime, 29217 publication(s) have been published within this topic receiving 379350 citation(s). The topic is also known as: pay & paying. more

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Book ChapterDOI
David Chaum1Institutions (1)
01 Jan 1983-
TL;DR: Automation of the way the authors pay for goods and services is already underway, as can be seen by the variety and growth of electronic banking services available to consumers. more

Abstract: Automation of the way we pay for goods and services is already underway, as can be seen by the variety and growth of electronic banking services available to consumers. The ultimate structure of the new electronic payments system may have a substantial impact on personal privacy as well as on the nature and extent of criminal use of payments. Ideally a new payments system should address both of these seemingly conflicting sets of concerns. more

3,058 citations

Journal ArticleDOI
Mark Armstrong1Institutions (1)
Abstract: There are many examples of markets involving two groups of participants who need to interact via intermediaries. Moreover, these intermediaries usually have to compete for business from both groups. Examples include academic publishing (where journals facilitate the interaction between authors and readers), advertising in media markets (where newspapers or TV channels enable adverts from producers to reach consumers), payment systems (where credit cards can be a convenient method of transaction between consumers and retailers), and telecommunications networks (where networks are used to provide links between callers and those who receive calls). The paper surveys recent theoretical work on these two-sided markets. The main questions are (i) what determines which side of the market is subsidized (if either) in order to attract the other side, and (ii) is the resulting outcome socially e¢cient? more

2,059 citations

18 Oct 1994-
Abstract: A bill pay system (figure 4) wherein participating consumers (12) pay bills (30) to participating billers (14) through a payment network (102) operating according to preset rules (104). The participating consumers (12) receive bills (3) from participating billers (14) (paper/mail bills, e-mail notices, implied bills for automatic debts) which indicate an amount, and a unique biller identification number (120). To authorize a remittance, a consumer (12) transmits (2) to its participating bank (16) a bill pay order (122) indicating a payment date, a payment amount, the consumer's account number with the biller (14), a source of funds (232) and the biller's (14) biller identification number, either directly or by reference to static data containing those data elements. Bank C (16) then submits a payment message (124) to a payment network (102), and the payment network (102), which assigns the biller reference numbers, forwards (268) the payment message to the biller's bank (18). For settlement, the consumer's bank (16) debits the consumer's (12) account and is obligated to a net position with the payment network (102); likewise, the biller's bank (18) receives a net position from the payment network (102) and credits the biller's bank account (268). If the consumer's bank (16) agrees to send non-reversible payment messages (124), the consumer's bank (16) does not submit the transaction until funds are good unless the consumer's bank (16) is willing to take the risk of loss if funds are not good, in the case of a guaranteed payment network (102). more

1,420 citations

Journal ArticleDOI
Abstract: article i nfo This paper reviews the historic development of the conceptualization of ecosystem services and examines critical landmarks in economic theory and practice with regard to the incorporation of ecosystem services into markets and payment schemes. The review presented here suggests that the trend towards monetization and commodification of ecosystem services is partly the result of a slow move from the original economic conception of nature's benefits as use values in Classical economics to their conceptualization in terms of exchange values in Neoclassical economics. The theory and practice of current ecosystem services science are examined inthelight ofthis historicaldevelopment.From thisreview,we conclude thatthefocus onmonetary valuation and payment schemes has contributed to attract political support for conservation, but also to commodify a growing number of ecosystem services and to reproduce the Neoclassical economics paradigm and the market logic to tackle environmental problems. more

1,199 citations

13 Jun 1997-
Abstract: A financial tender transfer system allows a transferor to transfer credit or make payment to a transferee by debiting the credit card of the transferor and crediting the credit card of the transferee. The financial tender transfer system gives the transferee immediate access to the transferred money and ensures the transferor's credit card is valid. Neither party needs to give their credit card number to the other, so security is preserved. Any amount of value up to the full credit line of the transferor can be transferred to the transferee. more

1,094 citations

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No. of papers in the topic in previous years

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Topic's top 5 most impactful authors

Kim Jae Hyung

68 papers, 132 citations

Joanna Stavins

50 papers, 755 citations

Scott Schuh

47 papers, 796 citations

Hong Jong Cheol

45 papers, 102 citations

Wilko Bolt

37 papers, 678 citations