Singh_Econ139A_S2011_Lec9-1 (1)

Singh_Econ139A_S2011_Lec9-1 (1) - business. technology....

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1 business. technology. society. Online Payments The Economics of Electronic Commerce (Economics 139A) UCSC Spring 2011 Professor Nirvikar Singh April 15, 2011
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Types of Payment Systems Cash Most common form of payment in terms of number of transactions Instantly convertible into other forms of value without intermediation Checking Transfer Second most common payment form in U.S. in terms of number of transactions Credit Card Credit card associations Issuing banks Processing centers Slide 5-2
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Types of Payment Systems (cont.) Stored Value Funds deposited into account, from which funds are paid out or withdrawn as needed, e.g. debit cards, gift certificates Peer-to-peer payment systems Accumulating Balance Accounts that accumulate expenditures and to which consumers make period payments e.g. Utility, phone, American Express accounts Slide 5-3
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Table 5.6, Page 312 Slide 5-4
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E-commerce Payment Systems Credit cards 55 % of online payments in 2009 (U.S.) Debit cards 28 % online payments in 2009 (U.S.) Limitations of online credit card payment Security Cost Social equity Slide 5-5
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A Cash Transaction Buyer Seller Withdraw cash Deposit cash Buyer’s bank Seller’s bank Cash payment Product
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A Check Transaction Buyer Seller Checkbook
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This note was uploaded on 09/09/2011 for the course ECON 139a taught by Professor Turnbull,s during the Spring '08 term at UCSC.

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Singh_Econ139A_S2011_Lec9-1 (1) - business. technology....

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