Emerging Methods of Payment

Jack Revell

Chapter 4 in Bank Strategies and Challenges in the New Europe, 2001, pp 64-70 from Palgrave Macmillan

Abstract: Abstract For the purposes of this study I must establish a starting point from which the new methods of payment emerged — the position in the middle of the 1960s perhaps, although it would not have made much difference if I had chosen the 1970s. For the present audience, coming from nearly all the countries of Western Europe, I must present a general picture and not dwell on the considerable differences in payment systems between all the countries. At that time computers were used only for maintaining the running records of the payment accounts kept with banks, savings banks and postal giros, but the payment instructions used for transfers between accounts were all paper instruments. Countries differed mainly in the proportions of giro transfers, which start with the debtor’s account being debited, and cheque transfers, in which the creditor’s account is credited before the debtor’s account is debited. Because giro transfers are not very convenient for normal shopping, notes and coin are more frequently used for small value transactions in giro countries than in cheque using countries, where cheques are often written for amounts as low as, say, four or five ECUs.

Keywords: Credit Card; Payment System; Trusted Third Party; Saving Bank; Debit Card (search for similar items in EconPapers)
Date: 2001
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-333-99276-0_4

Ordering information: This item can be ordered from
http://www.palgrave.com/9780333992760

DOI: 10.1057/9780333992760_4

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().