New Innovations in Payments
21 Pages Posted: 20 Jun 2016 Last revised: 29 Jun 2016
Date Written: June 2016
We discuss prospects for innovation in consumer payment instruments. We discuss recent research into consumer payments and what can be learned about consumer behavior towards new payment options. We consider three new innovations in payments: mobile payments, faster payments and digital currencies. For each, we describe prospects and impediments to adoption.
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