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Vikas Singh - One of the best experts on this subject based on the ideXlab platform.
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A survey of payment card industry data security standard
IEEE Communications Surveys and Tutorials, 2010Co-Authors: Jing Liu, Srinivas Dodle, Suat Özdemir, Yang Xiao, Hui Chen, Vikas SinghAbstract:Usage of payment cards such as credit cards, debit cards, and prepaid cards, continues to grow. Security breaches related to payment cards have led to billion dollar losses annually. In order to offset this trend, major payment card networks have founded the Payment Card Industry (PCI) Security Standards Council (SSC), which has designed and released the PCI Data Security Standard (DSS). This standard guides service providers and Merchants to implement stronger security infrastructures that reduce the risks of security breaches. This article mainly discusses the need for the PCI DSS and the data security requirements defined in the standard to address the ongoing security issues, especially those pertaining to payment card data handling. It also surveys various technical solutions, offered by a few security vendors, for merchant companies and organizations involved in payment card transaction processing to comply with the standard. The compliance of Merchants or service providers to the PCI DSS are assessed by PCI Qualified Security Assessors (QSAs). This article thus discusses the requirements to become PCI QSAs. In addition, it introduces the PCI security scanning procedures that guide the scanning of security policies of a merchant or service provider and prepare relevant reports. We believe that this survey sheds light on potential technical research problems pertinent to the PCI DSS and its compliance.
Jing Liu - One of the best experts on this subject based on the ideXlab platform.
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A survey of payment card industry data security standard
IEEE Communications Surveys and Tutorials, 2010Co-Authors: Jing Liu, Srinivas Dodle, Suat Özdemir, Yang Xiao, Hui Chen, Vikas SinghAbstract:Usage of payment cards such as credit cards, debit cards, and prepaid cards, continues to grow. Security breaches related to payment cards have led to billion dollar losses annually. In order to offset this trend, major payment card networks have founded the Payment Card Industry (PCI) Security Standards Council (SSC), which has designed and released the PCI Data Security Standard (DSS). This standard guides service providers and Merchants to implement stronger security infrastructures that reduce the risks of security breaches. This article mainly discusses the need for the PCI DSS and the data security requirements defined in the standard to address the ongoing security issues, especially those pertaining to payment card data handling. It also surveys various technical solutions, offered by a few security vendors, for merchant companies and organizations involved in payment card transaction processing to comply with the standard. The compliance of Merchants or service providers to the PCI DSS are assessed by PCI Qualified Security Assessors (QSAs). This article thus discusses the requirements to become PCI QSAs. In addition, it introduces the PCI security scanning procedures that guide the scanning of security policies of a merchant or service provider and prepare relevant reports. We believe that this survey sheds light on potential technical research problems pertinent to the PCI DSS and its compliance.
Derek Webb - One of the best experts on this subject based on the ideXlab platform.
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Business Policy Practices That Predict Sales of Tobacco
Policy Politics & Nursing Practice, 2006Co-Authors: Jeanine E. Gangeness, Tracy A. Evanson, Derek WebbAbstract:This pilot study with tobacco Merchants asked how policy practices may influence sales of tobacco to youth. This study compared tobacco merchant new employee training and business policies and practices to business compliance data. Licensed tobacco Merchants in a rural Minnesota county were mailed surveys regarding their new employee training and business policies practices. The returned surveys (75.9%, N = 44) were compared with tobacco compliance results that indicated if the business sold tobacco to youth during a county compliance check. The major finding from this study was that the survey respondents who did not sell tobacco to youth provided training on fake identification cards (68.0%, n = 17). Tobacco Merchants who provided additional information on fake identification cards (40%,n = 6), chi(2)(2, n = 43) 6.66, p = .036, were more likely to not sell tobacco to youth than the Merchants who did not provide fake identification card information.
Fumiko Hayashi - One of the best experts on this subject based on the ideXlab platform.
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Mobile Payments: Merchants' Perspectives
Econometric Reviews, 2014Co-Authors: Fumiko Hayashi, Terri BradfordAbstract:The U.S. payment market has attracted increasing attention from technology firms and their investors seeking to capitalize on mobile and cloud technologies and the growing trend in consumer adoption of smartphones. Although consumers in the United States largely have not adopted mobile payments, Merchants believe these technologies will address some current barriers to the use of mobile payments. In fact, many Merchants are actively developing and implementing mobile payment applications.Will these new technologies increase the overall value of mobile payments for end users, namely Merchants and consumers, and motivate them to use mobile payments? End users' preferences will influence the industry's direction as industry participants consider making investments and policymakers consider payments policies. This article focuses on Merchants' mobile payments preferences because, unlike consumer payment preferences, there is little research on the merchant perspective.The article examines attributes of mobile payments that may be a benefit or a concern to U.S. brick-and-mortar Merchants. The analysis is based on phone interviews with about 20 large and midsize Merchants from various retail categories. The article finds some attributes have clear effects on Merchants. An enhanced customer shopping experience will be a benefit for Merchants, while, at least in the near term, fragmented markets-in which several mobile technologies and applications coexist but no one gains enough traction to propel the industry forward-will be a concern. The effect of other attributes, such as cost, customer data control, and security, depends on what technologies will be used, which payment method will be linked to fund the mobile payment transaction, and who will provide the mobile payment application.Section I reviews the current payment environment for Merchants and compares basic features and associated business models of mobile payment technologies. Section II discusses key attributes of mobile payments for Merchants-customer shopping experience, cost, customer data control, security, and fragmented markets-and examines how benefits and concerns about these attributes vary by merchant characteristics. Section III summarizes the findings and draws conclusions by discussing the direction of mobile payments in the United States.I. PAYMENT ENVIRONMENT AND MOBILE PAYMENT TECHNOLOGIESMerchants view the adoption of mobile payments methods, especially those that use barcodes, quick response (QR) codes, and cloud technology, as an opportunity to improve a payment environment long dominated by cards. Merchants generally have been dissatisfied with card fees and rules that limit payment acceptance practices, such as surcharging and discounting. Although any mobile payment technology theoretically can accommodate a variety of payment methods as a funding source, each mobile technology tends to favor a particular payment method due to business models associated with the technology.Payment cards-the current payment environmentAs the U.S. payments system has evolved from paper-based to electronic, the share of Merchants' total sales made with payment cards has increased. The share of consumers that prefers to use a payment card (either a credit, debit, or prepaid card) over other payment methods at brick-and-mortar Merchants increased from 49 percent in 2001 to 69 percent in 2010 (Chart 1). Consequently, fees charged to Merchants to process payment cards, as well as rules and security standards set by payment card networks, significantly affect Merchants' net income.Fees Merchants pay to accept card transactions have risen rapidly in the last two decades because of increased volume and value of card transactions and increased fees per transaction. The increased fees per transaction are attributed to interchange fees, which are paid to card issuers and account for more than 80 percent of all fees Merchants pay for card transactions. …
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The Economics of Payment Card Fee Structure: Policy Considerations of Payment Card Rewards
SSRN Electronic Journal, 2008Co-Authors: Fumiko HayashiAbstract:This paper considers possible public policies that could improve efficiency and welfare distribution in the U.S. retail payments industry. Mainly, four options, i) encouraging competition; ii) allowing Merchants to surcharge; iii) regulating merchant fees; and iv) regulating payment card rewards, are discussed, but each option has advantages and disadvantages. Any single option may not achieve the policymakers' objective; rather, combining several policy options may be required. ; Also issued as a Payments System Research Working Paper.
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a puzzle of card payment pricing why are Merchants still accepting card payments
Review of Network Economics, 2006Co-Authors: Fumiko HayashiAbstract:This paper presents models that explain why Merchants accept payment cards even when the fees they face exceed the transactional benefits they receive from a card transaction. The prevalent assumption Merchants accept cards only when they earn positive net transactional benefits holds only for a monopoly merchant who faces an inelastic consumer demand. The paper also explores possible explanations for the recent gradual increases in merchant fees in the United States. Three possible explanations are 1) inflexible product price setting by Merchants, 2) decreases (increases) in cardholder fees (rebates), and 3) increases in cardholding-customer proportion in a given industry.
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a puzzle of card payment pricing why are Merchants still accepting card payments
2004Co-Authors: Fumiko HayashiAbstract:This paper presents models that explain why Merchants accept payment cards even when the fees they face exceed the transactional benefits they receive from a card transaction. Such merchant behaviors can be explained by competition among Merchants and/or the effectiveness of the merchant’s card acceptance in shifting cardholders’ demand for goods upward. The prevalent assumption used in payment card literature—Merchants accept cards only when their transactional benefits are higher than the fees they pay—holds only for a monopoly merchant who faces an inelastic consumer demand. A card network that wants all Merchants in a given industry to accept cards sets a lower merchant fee initially and then gradually increases it to the highest possible level, which may be higher than the sum of the merchant’s transactional benefit and the merchant’s initial margin without cards. Such merchant fees potentially create inequality between cardholders and non-cardholders.
Pierre Gervais - One of the best experts on this subject based on the ideXlab platform.
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Facing and Surviving War: Merchant Strategies, Market Management and Transnational Merchant Rings
2015Co-Authors: Pierre GervaisAbstract:For an eighteenth-century merchant, the ultimate crisis was war; armed conflicts disrupted trade both practically, by subjecting the goods transported to confiscation by the enemy, and financially, by threatening the national and international credit networks and compensation systems on which Merchants relied to clear their transactions. This was especially true for French Merchants active in the transatlantic trade, when confronted with a war with Great Britain at mid-century. Land-based goods or goods transported along the coast overt short distances could be rerouted, go through intermediaries, or be smuggled in a variety of ways. But by 1750, British domination of the seas was a well-established reality, and the French Navy, weakened by years of political neglect, was unable to protect the approach either to France's major ports, or to the North American continent. As a result, the French trader specialized in importing colonial products (sugar, coffee, indigo, or tobacco come to mind) in an Atlantic port was faced with daunting challenges. This paper shows how large Merchants could face the risks of war with considerable efficiency, combining, inside information, international networks, and local control of market segments; The oligopolistic nature of early Modern markets is fully revealed by these processes, which also show how information was kept even from principals outside merchant circles.
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Early Modern Merchant Strategies and the Historicization of Market Practices
Economic Sociology (European Electronic Newsletter), 2014Co-Authors: Pierre GervaisAbstract:The article recaps the main parameters of merchant strategies in the Early Modern period, and argues that the quantitative measurement of profit was not the foremost preoccupation of these Merchants. Network management as well as the control of the flows of information and credit were much more important.
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A merchant or a French Atlantic? Eighteenth-century account books as narratives of a transnational merchant political economy
French History, 2011Co-Authors: Pierre GervaisAbstract:In the eighteenth century, merchant financial accounting, especially double-entry accounting, should be of interest, and not only to accounting historians. The many account books left by traders the world over show how credit structured the early modern economy and society. Trade took place on credit, not with cash; Bordeaux merchant Abraham Gradis borrowed and loaned millions of Livres, and maintained a network of partners in France and the colonies across the Atlantic (Martinique, Saint-Domingue and Canada), shipping and/or selling as commission merchant wine, flour, sugar, coffee... Cash was used for smaller transactions, but commercial paper, and above all book credit, was key to merchant success. Because traders depended crucially on extended credit networks, the social construction of credit took precedence over all other considerations, including regional ones. Through the control of book credit, the largest Merchants were able to establish themselves as a truly international ruling class.
