The efficiency and integrity of payment card systems: industry views on the risks posed by data breaches

Julia Cheney, Robert Hunt, Katy Jacob, Richard D. Porter and Bruce J. Summers

Economic Perspectives, 2012, vol. 36, issue Q IV, 130-146

Abstract: To examine the adequacy of existing efforts to prevent, manage, and mitigate data breaches and other fraud in card-based payment systems, the authors conducted 17 interviews of various payment industry participants in 2009. This article documents the insights gained from the interviews, which consider the need for greater cooperation, sharing of relevant information, and innovation to stay ahead of the criminals that perpetrate payment card fraud with increasingly sophisticated methods.

Keywords: Payment systems; Credit cards; Fraud; Electronic funds transfers (search for similar items in EconPapers)
Date: 2012
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Working Paper: The efficiency and integrity of payment card systems: industry views on the risks posed by data breaches (2012)
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