Innovation in Payments

MOVING MONEY: THE FUTURE OF CONSUMER PAYMENTS, Chapter 3, Robert E. Litan and Martin Neil Baily, eds., Brookings, 2009

46 Pages Posted: 6 Oct 2008 Last revised: 5 Aug 2014

See all articles by David S. Evans

David S. Evans

Global Economics Group; University College London

Richard Schmalensee

Massachusetts Institute of Technology (MIT) - Sloan School of Management

Date Written: September 26, 2008

Abstract

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.

Keywords: Payment industry, technology, e-commerce

Suggested Citation

Evans, David S. and Schmalensee, Richard, Innovation in Payments (September 26, 2008). MOVING MONEY: THE FUTURE OF CONSUMER PAYMENTS, Chapter 3, Robert E. Litan and Martin Neil Baily, eds., Brookings, 2009. Available at SSRN: https://ssrn.com/abstract=1277275

David S. Evans (Contact Author)

Global Economics Group ( email )

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Suite 900
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University College London ( email )

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London WC1E OEG, WC1E 6BT
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Richard Schmalensee

Massachusetts Institute of Technology (MIT) - Sloan School of Management ( email )

Room E62-525
Cambridge, MA 02142
United States
617-253-2957 (Phone)
617-258-6617 (Fax)

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