Payments Systems

David Humphrey and James McAndrews

in The Oxford Handbook of Banking

Published in print January 2012 | ISBN: 9780199640935
Published online September 2012 | | DOI:

Series: Oxford Handbooks in Finance

Payments Systems

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  • Economics
  • Financial Markets
  • Public Economics



This article analyzes the use of retail payments systems (cash, checks, debit cards, credit cards, automated clearing houses, giro networks) and wholesale payment systems (secure giro and wire transfer networks) across countries. It highlights the costs and benefits of different systems to the banking system, and explores policy avenues with respect to both retail (privacy issues, card interchange fees, etc.) and wholesale payment systems (integration of back-office systems and uses of large value payment systems, systemic risk, etc.).

Keywords: retail payment systems; wholesale payment systems; banking system

Article.  7382 words. 

Subjects: Economics ; Financial Markets ; Public Economics

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