Paying with Plastic: The Digital Revolution in Buying and Borrowing Book + PRICE WATCH * Amazon pricing is not included in price watch

Paying with Plastic: The Digital Revolution in Buying and Borrowing Book

The definitive account of the trillion-dollar payment card industry, co-authored by Sloan School Dean and Professor Richard Schmalensee. The payment card business has evolved from its inception in the 1950s as a way to handle payment for expense...Read More

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  • Amazon Review

    For better or worse, most of us have at least one of the 720 million little plastic cards that are used each year to complete $860 billion worth of purchases at 15 million incredibly varied merchant locations throughout the world. This is a far cry from the humble beginnings of these myriad credit, debit, and charge cards, which just a few decades ago were generally a perk offered only to elite customers for the acquisition of fine meals, hotel rooms, department-store goods, and oil-company products. They are now so common and such an integral part of our economy, in fact, that few pay them much mind--a situation that makes David Evans and Richard Schmalensee's Paying with Plastic all the more interesting. Evans, senior vice president of National Economics Research Associates, and Schmalensee, dean of MIT's Sloan School of Management, meticulously trace the history of these cards from both the consumer and merchant perspectives in this surprisingly appealing volume, which will prove enlightening to anyone who ever wondered how plastic money works. --Howard Rothman

  • Product Description

    The payment card business has evolved from its inception in the 1950s as a way to handle payment for expense-account lunches (the Diners Club card) into today's complex, sprawling industry that drives trillions of dollars in transaction volume each year. Paying with Plastic is the definitive source on an industry that has revolutionized the way we borrow and spend. More than a history book, Paying with Plastic delivers an entertaining discussion of the impact of an industry that epitomizes the notion of two-sided markets: those in which two or more customer groups receive value only if all sides are actively engaged. New to this second edition, the two-sided market discussion provides useful insight into the implications of these market dynamics for cardholder rewards, merchant interchange fees, and card acceptance. The authors, both of whom have researched the industry for more than 25 years, also examine the implications of the recent antitrust cases on the industry as well as other business and technological changesâ??including the massive consolidation brought about by bank mergers, the rise of the debit card, and the emergence of e-commerceâ??that could alter the payment card industry dramatically in the years to come.

  • 026255058X
  • 9780262550581
  • DS Evans
  • 28 January 2005
  • MIT Press
  • Paperback (Book)
  • 383
  • 2nd Revised edition
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