Innovation in Payments
David S. Evans
University of Chicago Law School; University College London; Global Economics Group
Massachusetts Institute of Technology (MIT) - Sloan School of Management; National Bureau of Economic Research (NBER)
September 26, 2008
MOVING MONEY: THE FUTURE OF CONSUMER PAYMENTS, Chapter 3, Robert E. Litan and Martin Neil Baily, eds., Brookings, 2009
Three major technological trends will lead to a significant transformation of the payments industry: the development of online advertising technologies that will increasingly rely on transaction data, the movement of payment innovation from the existing jerry-rigged linkages of hardware and software to cloud-based computing, and the proliferation of mobile telephones and other handheld devices that are connected to the Internet. Innovation will result from the integration of these new technologies and will transform the payment and shopping experience in ways that promise to bring enormous benefits to consumers and businesses.
Number of Pages in PDF File: 46
Keywords: Payment industry, technology, e-commerceAccepted Paper Series
Date posted: October 6, 2008 ; Last revised: May 17, 2009
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