Details about Fumiko Hayashi

Access statistics for papers by Fumiko Hayashi.

Last updated 2023-02-24. Update your information in the RePEc Author Service.

Short-id: pha869

Working Papers

2024

1. Defining Households That Are Underserved in Digital Payment Services
   Research Working Paper, Federal Reserve Bank of Kansas City
   Also in Working Papers, Federal Reserve Bank of Boston (2024)
2. Financial Literacy, Risk Tolerance, and Cryptocurrency Ownership in the United States
   Research Working Paper, Federal Reserve Bank of Kansas City

2023

3. Which Types of Unbanked Households Are More (or Less) Likely to Open a Bank Account?
   Research Working Paper, Federal Reserve Bank of Kansas City

2021

4. Distributional Effects of Payment Card Pricing and Merchant Cost Pass-through in Canada and the United States
   Staff Working Papers, Bank of Canada View citations (5)

2020

5. Delivering Benefits of Faster Payments to the Underserved
   Consumer & Community Context, Board of Governors of the Federal Reserve System (U.S.) View citations (1)
6. Distributional Effects of Payment Card Pricing and Merchant Cost Pass-through in the United States and Canada
   Research Working Paper, Federal Reserve Bank of Kansas City View citations (1)
   Also in Working Papers, Federal Reserve Bank of Boston (2020)

2018

7. The Initial Effects of EMV Migration on Chargebacks in the United States
   Research Working Paper, Federal Reserve Bank of Kansas City View citations (3)

2017

8. Faster Payments: Market Structure and Policy Considerations
   Research Working Paper, Federal Reserve Bank of Kansas City
   Also in Current Policy Perspectives, Federal Reserve Bank of Boston (2017) View citations (1)
   Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (2017)

2016

9. Chargebacks: another payment card acceptance cost for merchants
   Research Working Paper, Federal Reserve Bank of Kansas City

2015

10. Driver of choice? the cost of financial products for unbanked consumers
    Research Working Paper, Federal Reserve Bank of Kansas City View citations (3)
11. Faster payments in the United States: how can private sector systems achieve public policy goals?
    Research Working Paper, Federal Reserve Bank of Kansas City View citations (1)
12. Innovation, Deregulation, and the Life Cycle of a Financial Service Industry
    Working Paper, Federal Reserve Bank of Richmond View citations (3)
    See also Journal Article Innovation, Deregulation, and the Life Cycle of a Financial Service Industry, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2017) View citations (9) (2017)
13. Quantifying the Impacts of Limited Supply: The Case of Nursing Homes
    Working Papers, Canadian Centre for Health Economics View citations (20)

2014

14. General purpose reloadable prepaid cards: penetration, use, fees and fraud risks
    Research Working Paper, Federal Reserve Bank of Kansas City View citations (6)
15. Recurrent overdrafts: a deliberate decision by some prepaid cardholders?
    Research Working Paper, Federal Reserve Bank of Kansas City View citations (2)

2012

16. Effects of credit scores on consumer payment choice
    Research Working Paper, Federal Reserve Bank of Kansas City View citations (4)
    Also in Public Policy Discussion Paper, Federal Reserve Bank of Boston (2012) View citations (2)

2011

17. Product Innovation and Network Survival in the U.S. ATM and Debit Card Industry
    2011 Meeting Papers, Society for Economic Dynamics View citations (2)

2008

18. Payment Card Rewards Programs and Consumer Payment Choice
    MPRA Paper, University Library of Munich, Germany View citations (6)
    Also in Payments System Research Working Paper, Federal Reserve Bank of Kansas City (2006) View citations (14)
    See also Journal Article Payment card rewards programs and consumer payment choice, Journal of Banking & Finance, Elsevier (2010) View citations (125) (2010)
19. Product innovation and network survival in the U.S. ATM and debit card network industry
    Research Working Paper, Federal Reserve Bank of Kansas City View citations (2)
20. The economics of payment card fee structure: policy considerations of payment card rewards
    Research Working Paper, Federal Reserve Bank of Kansas City View citations (3)
21. The economics of payment card fee structure: what drives payment card rewards?
    Research Working Paper, Federal Reserve Bank of Kansas City View citations (3)
22. The economics of payment card fee structure: what is the optimal balance between merchant fee and payment card rewards?
    Research Working Paper, Federal Reserve Bank of Kansas City View citations (4)

2006

23. Pricing and welfare implications of payment card network competition
    Payments System Research Working Paper, Federal Reserve Bank of Kansas City View citations (1)

2005

24. Competition and credit and debit card interchange fees: a cross-country analysis
    Payments System Research Working Paper, Federal Reserve Bank of Kansas City
25. Network competition and merchant discount fees
    Payments System Research Working Paper, Federal Reserve Bank of Kansas City View citations (1)

2004

26. A puzzle of card payment pricing: why are merchants still accepting card payments?
    Payments System Research Working Paper, Federal Reserve Bank of Kansas City View citations (7)
    See also Journal Article A Puzzle of Card Payment Pricing: Why Are Merchants Still Accepting Card Payments?, Review of Network Economics, De Gruyter (2006) View citations (22) (2006)

2003

27. Community bank access to payment card networks: has it become more expensive?
    Payments System Research Working Paper, Federal Reserve Bank of Kansas City View citations (2)

2002

28. Technology adoption and consumer payments: evidence from survey data
    Payments System Research Working Paper, Federal Reserve Bank of Kansas City
    See also Journal Article Technology Adoption and Consumer Payments: Evidence from Survey Data, Review of Network Economics, De Gruyter (2003) View citations (83) (2003)

Journal Articles

2025

1. Debit Card Interchange Fees Charged to Small Merchants After Regulation II
   Economic Review, 2025, 110, (2), 13
2. Did Card-Present Fraud Rates Decline in the United States After the Migration to Chip Cards?
   Payments System Research Briefing, 2025, 8

2024

3. Core Banking Systems and Options for Modernization
   Payments System Research Briefing, 2024, 8
4. Market Structure of Core Banking Services Providers
   Payments System Research Briefing, 2024, 7
5. The Role of Core Banking Services Providers in Facilitating Instant Payments
   Payments System Research Briefing, 2024, 7

2022

6. Assessing the Case for Retail CBDCs: Central Banks’ Considerations
   Payments System Research Briefing, 2022, (May 26, 2022), 7
7. Data Aggregators: The Connective Tissue for Open Banking
   Payments System Research Briefing, 2022, (August 24, 2022), 6

2021

8. Cash or Debit Cards? Payment Acceptance Costs for Merchants
   Economic Review, 2021, 106, (no.3), 5-21
9. Digital, Financial, and Health Insurance Exclusion Experienced by Low-Income Households
   Payments System Research Briefing, 2021, (July 7, 2021), 9

2020

10. Mobile Banking Use and Consumer Readiness to Benefit from Faster Payments
    Economic Review, 2020, 105, (no.1), 5 View citations (5)
11. Remote Card Payment Fraud: Trends and Measures Taken in Australia, France, and the United Kingdom
    Payments System Research Briefing, 2020, 6 View citations (2)

2019

12. Developments of QR Code-Based Mobile Payments in East Asia
    Payments System Research Briefing, 2019, 14 View citations (2)
13. Payment Card Fraud Rates in the United States Relative to Other Countries since Migrating to Chip Cards
    Economic Review, 2019, v.104, no.4, (Q IV), 23-40 View citations (2)

2018

14. Who Are the Unbanked? Characteristics Beyond Income
    Economic Review, 2018, (Q II), 55-70 View citations (5)

2017

15. Innovation, Deregulation, and the Life Cycle of a Financial Service Industry
    Review of Economic Dynamics, 2017, 26, 180-203 View citations (9)
    See also Working Paper Innovation, Deregulation, and the Life Cycle of a Financial Service Industry, Working Paper (2015) View citations (3) (2015)

2016

16. Access to Electronic Payments Systems by Unbanked Consumers
    Economic Review, 2016, (Q III), 51-76 View citations (6)

2014

17. Interchange fees and network rules: a shift from antitrust litigation to regulatory measures in various countries
    Payments System Research Briefing, 2014, (Oct), 1-5 View citations (2)
18. Mobile payments: merchants’ perspectives
    Economic Review, 2014, (Q II), 33-58 View citations (10)

2013

19. Fees, fraud and regulation: force of change in the payment card industry
    Payments System Research Briefing, 2013, (Apr) View citations (3)
20. The new debit card regulations: effects on merchants, consumers, and payments system efficiency
    Economic Review, 2013, 98, (Q I), 89-118 View citations (9)

2012

21. Discounts and surcharges: implications for consumer payment choice
    Payments System Research Briefing, 2012, (Jun) View citations (11)
22. Measuring the costs of retail payment methods
    Economic Review, 2012, 97, (Q II) View citations (17)
23. Medición de los costos de los métodos de pago minoristas
    Boletín, 2012, LVIII, (3), 152-180
24. Mobile payments: What’s in it for consumers?
    Economic Review, 2012, 97, (Q I), 35-66 View citations (10)
25. The new debit card regulations: initial effects on networks and banks
    Economic Review, 2012, 97, (Q IV) View citations (6)

2010

26. Payment card rewards programs and consumer payment choice
    Journal of Banking & Finance, 2010, 34, (8), 1773-1787 View citations (125)
    See also Working Paper Payment Card Rewards Programs and Consumer Payment Choice, MPRA Paper (2008) View citations (6) (2008)

2009

27. Do U.S. consumers really benefit from payment card rewards?
    Economic Review, 2009, 94, (Q I), 37-63 View citations (10)

2008

28. Developments in interchange fees in the United States and abroad
    Payments System Research Briefing, 2008, (Apr) View citations (31)

2007

29. Complex landscapes: mobile payments in Japan, South Korea, and the United States
    Payments System Research Briefing, 2007, (Sep) View citations (6)

2006

30. A Puzzle of Card Payment Pricing: Why Are Merchants Still Accepting Card Payments?
    Review of Network Economics, 2006, 5, (1), 31 View citations (22)
    See also Working Paper A puzzle of card payment pricing: why are merchants still accepting card payments?, Payments System Research Working Paper (2004) View citations (7) (2004)
31. Interchange fees in Australia, the UK, and the United States: matching theory and practice
    Economic Review, 2006, 91, (Q III), 75-112 View citations (9)

2003

32. Technology Adoption and Consumer Payments: Evidence from Survey Data
    Review of Network Economics, 2003, 2, (2), 16 View citations (83)
    See also Working Paper Technology adoption and consumer payments: evidence from survey data, Payments System Research Working Paper (2002) (2002)

1997

33. Japan's Pension Reform
    Japanese Economy, 1997, 25, (6), 70-92
34. Japan's Public Pension Policy
    Japanese Economy, 1997, 25, (6), 43-69
35. The Risk of Disability and Precautionary Savings
    Economic Review, 1997, 48, (3), 207-217

1996

36. Private Annuities Markets and Adverse Selection―The Case of National Pension Funds in Japan―
    Economic Review, 1996, 47, (3), 217-228

Books

2006

1. A guide to the ATM and debit card industry - 2006 update
   Monograph, Federal Reserve Bank of Kansas City View citations (36)