Electronic Payment Systems : Law and Emerging Technologies

Banking and payment systems are continually becoming more complex. Technological innovations have impacted the structure, form, and variety of payment systems, increasing their variety as well as their ubiquity on an international level. This guide explores these innovations and the legal and technological questions that they present. Written by experts in the field, this book provides a topical discussion of the principal electronic payment systems utilized today. Beginning with an overview of modern payment systems, this comprehensive guide:Discusses the primary modern payment systems, which form the “rails” for significant innovationExamines the next generation of payments technologies, which are seeking to deliver greater efficiency, convenience, and utility for businesses and consumers Details important regulatory concerns, including money laundering, tax enforcement, and sanctions regimesIncludes legal and policy insights in the payments environment including the European Union and the U.S. Provides current reflections and forward-looking thoughts on issues and concerns presented by technologies that are closely related to electronic payments.As the Internet continues to expand its scope and impact daily lives, how are payment systems likely to adapt to these changes? While people extoll the benefits of technology, laws and regulations are also informed by critical examination of related social impacts. How does this movement toward electronic payment systems impact the poor and socially disadvantaged? These subjects are boldly addressed as well as other topics.