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Payment System Technologies and Functions

Book Description

Payment System Technologies and Functions: Innovations and Developments is valuable tool for those interested in learning about payment systems, including academics and researchers, graduate and undergraduate students, relevant parties of authority and central banks, and professionals in payment business who need a complete understanding of payment systems. This reference promotes a better understanding of payment systems and encourages progress on enhancing the safety and efficiency of payment systems.

Table of Contents

  1. Cover
  2. Title Page
  3. Copyright Page
  4. Foreword
  5. Preface
    1. FEATURES OF THIS BOOK
    2. ORGANIZATION OF THE BOOK
  6. Acknowledgment
  7. Section 1: Basic Knowledge about Payment Systems
    1. Chapter 1: Basics of Payment Systems
      1. ABSTRACT
      2. INTRODUCTION
      3. SETTLEMENT AND PAYMENT SYSTEM
      4. IMPORTANCE OF PAYMENT SYSTEM
      5. SEVERAL ASPECTS OF SETTLEMENT
      6. PAPER-BASED PAYMENT SYSTEMS AND ELECRONIC PAYMENT SYSTEMS
      7. ACTORS IN PAYMENT SYSTEMS
      8. BANKS AS A PAYMENT SYSTEM
      9. PROCESSES IN PAYMENT SYSTEM
      10. FUNCTIONS OF CENTRAL BANKS
      11. NETWORK EXTERNALITIES OF PAYMENT SYSTEM
      12. PAYMENT SYSTEM AS A NATURAL MONOPOLY
      13. INTERDEPENDENCIES OF PAYMENT SYSTEMS
    2. Chapter 2: Classifications of Payment System
      1. ABSTRACT
      2. INTRODUCTION
      3. OPERATOR OF PAYMENT SYSTEM
      4. SETTLEMENT METHOD
      5. FREQUENCY AND TIMING OF SETTLEMENT
      6. PAYMENT VALUE
      7. SETTLEMENT DATE
      8. SETTLEMENT ASSET
    3. Chapter 3: Settlement Risk
      1. ABSTRACT
      2. INTRODUCTION
      3. ORIGIN OF SETTLEMENT RISK
      4. SETTLEMENT RISK AND PRE-SETTLEMENT RISK
      5. CLASSIFICATION OF SETTLEMENT RISK
      6. MAGNITUDE OF LOSS CAUSED BY SETTLEMENT RISK
      7. ACTUAL EXAMPLES OF SETTLEMENT RISK
      8. EXPOSURE OF SETTLEMENT RISK
      9. REDUCTION MEASURES OF SETTLEMENT AMOUNT
      10. REDUCTION MEASURES OF TIME-LAG
  8. Section 2: Basic Payment Systems and Advanced Payment Systems
    1. Chapter 4: DTNS System and RTGS System
      1. ABSTRACT
      2. INTRODUCTION
      3. TWO BASIC PAYMENT SYSTEMS
      4. COMPARISONS OF TWO BASIC PAYMENT SYSTEMS
      5. RISK MANAGEMENT MEASURES IN DTNS SYSTEM
      6. RISK REDUCTION BY INTRODUCING RTGS SYSTEM
      7. LIQUIDITY MANAGEMENT IN RTGS SYSTEM
    2. Chapter 5: Hybrid System and Integrated System
      1. ABSTRACT
      2. INTRODUCTION
      3. HYBRID SYSTEM
      4. INTEGRATED SYSTEM
      5. MECHANISMS THAT SUPPORT ADVANCED PAYMENT SYSTEMS
  9. Section 3: Innovations in Payment Systems
    1. Chapter 6: Evolutionary Trends of Payment Systems
      1. ABSTRACT
      2. INTRODUCTION
      3. TRANSISION FROM DTNS SYSTEM TO RTGS SYSTEM
      4. INTRODUCTION OF HYBRID SYSTEMS
      5. INTRODUCTION OF INTEGRATED SYSTEMS
      6. EVOLUTIONARY PROCESS OF PAYMENT SYSTEMS
      7. MULTI-CURRENCY PAYMENT SYSTEMS AND OFFSHORE PAYMENT SYSTEMS
      8. LINKAGE WITH CSD
      9. FINANCIAL EDI CAPABILITY
    2. Chapter 7: Driving Forces for Innovations in Payment Systems
      1. ABSTRACT
      2. INTRODUCTION
      3. RAPID GROWTH OF SETTLEMENT VALUES AND SETTLEMENT RISKS
      4. ENLIGHTENMENT BY THE BIS
      5. COMPETITION BETWEEN PAYMENT SYSTEMS
      6. TECHNOLOGICAL PROGRESS
    3. Chapter 8: Critical Issues on Payment Systems
      1. ABSTRACT
      2. INTRODUCTION
      3. GOVERNANCE STRUCTURE OF PAYMENT SYSTEMS
      4. LEGAL ISSUES ON PAYMENT SYSTEMS
      5. OPERATIONAL RELIABILITY OF PAYMENT SYSTEMS
      6. EFFICIENCY ISSUES OF PAYMENT SYSTEMS
  10. Section 4: Developments of Payment Systems in Selected Countries
    1. Chapter 9: Payment Systems in US
      1. ABSTRACT
      2. INTRODUCTION
      3. FEDWIRE
      4. CHIPS
      5. ACH
    2. Chapter 10: Payment Systems in EU
      1. ABSTRACT
      2. INTRODUCTION
      3. FROM TARGET TO TARGET2
      4. TARGET2
      5. RETAIL PAYMENT SYSTEMS IN EU
    3. Chapter 11: Payment Systems in Japan
      1. ABSTRACT
      2. INTRODUCTION
      3. BOJ-NET
      4. Transition of BOJ-NET to RTGS System
      5. FXYCS
      6. ZENGIN SYSTEM
    4. Chapter 12: CLS Bank
      1. ABSTRACT
      2. INTRODUCTION
      3. BACKGROUND OF CLS BANK
      4. OUTLINE OF CLS BANK
      5. FUNDING AND SETTLEMENT PROCEDURES OF CLS BANK
      6. RISK MANAGEMENT OF CLS BANK
      7. LIQUIDITY FOR CLS SETTLEMENT
      8. COUNTER-MEASURES FOR PAY-IN FAILURE
      9. IMPACT OF CLS BANK
      10. EXTENTION OF BUSINESS AREAS BY CLS BANK
  11. About the Author
  12. List of Abbreviations
  13. Index