Risk Management and Nonbank Participation in the U. S. Retail Payments System

Download or read book Risk Management and Nonbank Participation in the U. S. Retail Payments System written by Richard J. Sullivan and published by . This book was released on 2007-09 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: The retail payments system (RPS) in the U.S. has changed significantly in recent years. Advances in technology have caused a greater reliance on electronic payment networks. And the industrial structure of the RPS industry has evolved, as more & more non-banks deliver payment products to end users & supply back-end processing. In general, these changes have made the RPS more efficient & given more choices to consumers & more payment options to merchants & businesses. At the same time, however, the rapid pace of change has introduced new risks to the RPS. Sullivan lays the groundwork for a dialogue on policy to control risk in the U.S. RPS. He concludes that a thorough review of supervisory authority relevant to the RPS would be valuable.