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Keywords:Payment systems 

Discussion Paper
Mobile payments in the United States at retail point of sale: current market and future prospects

Although mobile payments are increasingly used in some countries, they have not been adopted widely in the United States so far, despite their potential to add value for consumers and streamline the payments system. After describing a few countries? experiences, we analyze the prospects for the U.S. market for mobile payments in retail payments, particularly the use of contactless and near-field communication technologies. We identify conditions that have facilitated some success in other countries and barriers to the adoption of mobile payments in the United States. On the demand side, ...
Public Policy Discussion Paper , Paper 10-2

Conference Paper
Point-of-sale payments

Proceedings

Journal Article
Not a blown fuse

Quarterly Review , Volume 18 , Issue Spr , Pages 46-49

Working Paper
Risk taking and the quality of informal insurance: gambling and remittances in Thailand

More than 35% of Thai households either give or receive remittances, and remittances account for about one-third of the income of the receiving households. Remittance relationships may be an important source of protection against adverse events for the individuals involved. This paper provides evidence that remittances behave in a way that is consistent with insurance: they are sensitive to shocks to regional rainfall and they respond to household level events. The paper goes on to consider how the quality of insurance that is offered through remittances affects household risk taking ...
Working Paper Series , Paper WP-07-01

Conference Paper
Nonbanks in the payments system: vertical integration issues

Proceedings – Payments System Research Conferences

Conference Paper
Innovation in non-bank payment systems: general discussion

Proceedings – Payments System Research Conferences

Conference Paper
Money, credit, banking, and payment system policy

Proceedings

Report
Why does overnight liquidity cost more than intraday liquidity?

In this paper, we argue that the observed difference in the cost of intraday and overnight liquidity is part of an optimal payments system design. In our environment, the interest charged on overnight liquidity affects output, while the cost of intraday liquidity only affects the distribution of resources between money holders and non-money holders. The low cost of intraday liquidity follows from the Friedman rule, but with respect to overnight liquidity, it is optimal to deviate from the Friedman rule. The cost differential simultaneously reduces the incentive to overuse money and encourages ...
Staff Reports , Paper 281

Journal Article
Intraday credit: risk, value, and pricing

An abstract for this article is not available
Economic Review , Volume 73 , Issue Jan , Pages 3-14

Working Paper
Real-time gross settlement and the costs of immediacy

Using a neoclassical monetary model, we investigate the welfare cost of a payment system that operates as a real-time gross settlement (RTGS) system. We illustrate how the cost of such systems does not ultimately derive from factors such as "payments gridlock" but instead from the credit constraints imposed by RTGS. We also investigate the welfare consequences of various approaches to the allocation of daylight credit by central banks. The two most popular approaches, collateralization and charging an administered intraday interest rate, are shown to be effective along some dimensions but ...
FRB Atlanta Working Paper , Paper 98-21

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