Clash of the Titans: Regulating the Competition between Established and Emerging Electronic Payment Systems
Jane K. Winn
University of Washington - School of Law
January 1, 1999
Berkeley Tech Law Journal, Vol. 14, 1999
This article equates the providers of traditional electronic payment services with the Titans of Greek mythology, and the providers of new electronic payment technologies with the Olympians. Professor Winn concludes, however, that unlike the Titans of Greek mythology, these modern Titans appear to be winning in their battle with the upstart Olympians. This article describes the fundamental characteristics of payment systems, reviews the applicable law, and describes the new technologies that were, until quite recently, expected to displace older electronic payment systems. Consumers and merchants, by and large, are happy with the existing regulatory structure. And, because of the failure of new technologies to gain significant market share yet, regulators have not yet been obliged to revise existing regulations to take account of these new technologies.
Number of Pages in PDF File: 24
Keywords: payments, credit cards, debit cards, electronic fund transfers, electronic money, consumer protectionAccepted Paper Series
Date posted: September 6, 2012
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