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Pondering Payments: Challenges of Reaching All Americans

Policy Perspectives

Working Paper
Chargebacks: another payment card acceptance cost for merchants

Although chargebacks are perceived as one of the major cost components for merchants to accept card payments, little research has been conducted on them. To fill that gap, this paper describes the current chargeback landscape by generating detailed statistics on chargebacks for signature-based transactions. Our data are from merchant processors, which, altogether, processed more than 20 percent of all signature-based transactions in the United States. For Visa and MasterCard transactions, chargebacks merchants receive are, on average, 1.6 basis points (bps) of sales number and 6.5 bps of ...
Research Working Paper , Paper RWP 16-1

Working Paper
Faster Payments: Market Structure and Policy Considerations

This paper reports on a research effort by Federal Reserve staff to examine market structure implications in the still?emerging faster payments market. The analysis and conclusions in this paper are those of the authors and do not indicate official positions of the Board of Governors or Federal Reserve System. Although this paper offers several considerations regarding the U.S. faster payments market, it does not make specific policy recommendations or provide a view on the potential roles, including service provider or other roles, that the Federal Reserve may play in this market.2 Given the ...
Research Working Paper , Paper RWP 17-14

What Types of Customer Data Do Fintech Firms Use?

Beyond cash flow and credit scores, technology-driven lenders have also looked at social media activity and phone ownership.
On the Economy

Will Digital Wallets Replace Cash?

Dialogue with the Fed attendees hear about the opportunities and challenges involved with digital wallets like Venmo.
On the Economy

Faster Payments, More Disruptions

New payment technologies have transformed the banking system by increasing the efficiency and mechanisms to transfer funds. How will these innovations disrupt the banking system?
On the Economy

Developments of QR Code-Based Mobile Payments in East Asia

Initiatives facilitating QR code-based mobile payments in Japan, Singapore, and Hong Kong may address some pain points of banks, nonbanks, and merchants, but whether they address consumers’ depends on factors such as fragmentation and overall digital commerce experience
Payments System Research Briefing

How the COVID-19 Pandemic May Reshape the Digital Payments Landscape

Despite an increase in payments made via online or mobile channels in recent years, many consumers have not yet adopted digital payments. The COVID-19 pandemic may be shifting more consumers toward digital payments, along with industry and legislative initiatives designed to facilitate broader access.
Payments System Research Briefing

Competition and Coordination: The Card Network Balancing Act

Payments System Research Briefing

Journal Article
Access to Electronic Payments Systems by Unbanked Consumers

Fumiko Hayashi identifies electronic payment products that can mitigate unbanked consumers? problems with the banking system.
Economic Review , Issue Q III , Pages 51-76


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