Discussion Paper
Credit cards and payment efficiency
Sienkiewicz, Stanley J. (2001)
On May 22, 2001, the Payment Cards Center of the Federal Reserve Bank of Philadelphia sponsored a workshop on the role of interchange fees in the credit card industry. The workshop discussion, led by Dr. David Humphrey of Florida State University, explored the framework behind interchange fees. It then focused on several open questions that have arisen within both the academic research and international regulatory communities about interchange's impact on payment system efficiency. The paper that follows is supplemented by additional research and provides background information on ...
Consumer Finance Institute discussion papers , Paper 01-02

Discussion Paper
The evolution of EFT networks from ATMs to new on-line debit payment products
Sienkiewicz, Stanley J. (2002)
On June 15, 2001, the Payment Cards Center of the Federal Reserve Bank of Philadelphia sponsored a workshop on the evolution of the electronic funds transfer (EFT) industry. Paul Tomasofsky and Bruce Sussman of NYCE, the New Jersey-based electronic payments company, led the workshop. Beginning with a brief history of EFT and the automated teller machine (ATM) industry, Tomasofsky and Sussman discussed the growth of debit card applications and various Internet payment mechanisms. They then described NYCE's new payment product, SafeDebit,TM which is designed to address security issues in making ...
Consumer Finance Institute discussion papers , Paper 02-04

Discussion Paper
Risky business: managing electronic payments in the 21st Century
Bochicchio, Marilyn; Sienkiewicz, Stanley J. (2005)
On June 20 and 21, 2005, the Payment Cards Center of the Federal Reserve Bank of Philadelphia, in conjunction with the Electronic Funds Transfer Association (EFTA), hosted a day-and-a-half forum, ?Risky Business: Managing Electronic Payments in the 21st Century.? The Center and EFTA invited participants from the financial services and processing sectors, law enforcement, academia, and policymakers to explore key topics associated with the challenge of effectively managing risk in a payments environment that is increasingly electronic. The meeting?s goal was to identify areas of potential risk ...
Consumer Finance Institute discussion papers , Paper 05-20

Discussion Paper
Prepaid cards: vulnerable to money laundering?
Sienkiewicz, Stanley J. (2007)
This paper discusses the potential money laundering threat that prepaid cards face as they enter the mainstream of consumer payments. Over the past year, several government agencies have issued reports describing the threat to the U.S. financial system, including the use of prepaid cards by money launderers. Also, this paper incorporates the presentations made at a workshop hosted by the Payment Cards Center at which Patrice Motz, executive vice president, Premier Compliance Solutions, and Paul Silverstein, executive vice president, Epoch Data Inc., led discussions. These two leading ...
Consumer Finance Institute discussion papers , Paper 07-02

Discussion Paper
The future of e-commerce payments
Bochicchio, Marilyn; Sienkiewicz, Stanley J. (2002)
On June 19, 2002, the Payment Cards Center of the Federal Reserve Bank of Philadelphia and the Electronic Funds Transfer Association's Electronic Commerce Payments Council (eCPC) sponsored a joint conference. This meeting was part of the regularly scheduled quarterly council meetings that bring together stakeholders interested in developing or enhancing e-commerce payment alternatives. The session included both Federal Reserve staff and industry leaders discussing how electronic payments are becoming an alternative to paper-based payment products and the adoption of electronic payments by ...
Consumer Finance Institute discussion papers , Paper 02-09

Working Paper
The hedging performance of ECU futures contracts
Sienkiewicz, Stanley J.; Saunders, Anthony (1987)
Working Papers , Paper 87-15