The laws, regulations, guidelines, and industry practices that protect consumers who use gift cards

This paper discusses consumer protections available to gift-card users. Specifically, it examines the ways in which value loaded at the time of purchase is protected for future card use or returned to consumers when the card is not used or has expired. The consumer protection information included in this paper is derived from a number of sources, including several types of state statutes, Federal Trade Commission decisions, financial industry regulatory agency guidelines, and previous interviews with payments industry experts regarding practices concerning network-branded gift cards. This paper expands research begun by the Payment Cards Center in 2004 into prepaid cards generally and the protections available to consumers who use gift cards specifically.Payment systems

Prepaid card markets and regulation

Prepaid cards, also commonly referred to as stored-value cards, are typically credit card-sized pieces of plastic that contain or represent an amount of pre-loaded value. They include a wide range of payment products, such as gift cards, payroll cards, teen cards, and travel cards. Despite significant product innovations, it is unclear whether and how existing federal and state laws that apply to other financial products (e.g., checks, credit cards, deposit accounts) apply to the different varieties of prepaid cards. Overall, the law in this area is very much unsettled. In an effort to understand the legal and regulatory issues facing prepaid cards, the Center invited Judith Rinearson, chief counsel to American Express’ electronic stored-value business, to present a workshop on the topic. This paper provides highlights from Rinearson’s presentation. It analyzes the different kinds of prepaid card products on the market and the federal and state laws that potentially apply to them.Regulation E: Electronic Fund Transfers ; Stored-value cards

The untapped potential of IT chargeback

Cover title. "May 1997."Includes bibliographical references (p. 24-25).Jeanne W. Ross, Michael R. Vitale, Cynthia M. Beath

The applicability of expert systems technology to insurgent identification in a tactical military environment

As the threat of large-scale, conventional warfare diminishes, the United States will increasingly find itself, and its military forces, involved in low intensity, insurgency, revolutionary, and guerrilla warfare as an intervening power. One especially critical aspect of counterinsurgency operations is the rapid and accurate identification of insurgents and cause- sympathetic individuals. This task is normally accomplished by an experienced and knowledgeable expert in insurgent identifications, but appears to be particularly well suited for the application of expert system technology. This thesis is concerned with examining the applicability and feasibility of using expert systems technology for the development of a computerized screening system capable of assisting in the identification of insurgent and cause-sympathetic individuals in a tactical military environment.http://archive.org/details/thepplicabilityo1094534909Captain, United States Marine CorpsApproved for public release; distribution is unlimited

After the hype: e-commerce payments grow up

On June 18, 2003, the Payment Cards Center of the Federal Reserve Bank of Philadelphia and the Electronic Commerce Payments Council (eCPC) of the Electronic Funds Transfer Association co-hosted a workshop forum to explore areas of mutual interest related to the proliferation of e-commerce payments. This was the second event jointly sponsored by the groups. ; The first forum, “The Future of e-Commerce Payments,” which was held in June 2002, focused on the possibilities ahead, as various electronic payment channels displace paper checks as a primary payment form. The more recent forum, “After the Hype: e-Commerce Payments Grow Up,” continued the dialog, emphasizing recent economic and marketplace realities that impact ecommerce payments innovation, acceptance, and maturation. ; Participants and speakers included Federal Reserve staff and industry leaders.Electronic commerce

SELLER-BUYER TRUST IN CROSS-BORDER E-COMMERCE: A CONCEPTUAL MODEL

We conceptualize and propose a theoretical model of sellers’ trust in buyers in the cross border e-commerce context. This model is based on by signalling theory, which is further refined by using trust theories and empirical findings from prior e-commerce trust research. _x000D_ _x000D_ Keywords: buyer-seller trust, cross-border, e-commerce, signalling theory, trust theory, small and medium sized._x000D

Personal on-line payments

The swift growth of e-commerce and the Internet has led to the development of a new form of electronic funds transfer—the personal on-line payment—that uses web and e-mail technologies to initiate and confirm payments. This article describes this payment instrument and the trends that have given rise to it. The authors explain that personal on-line payment systems are already providing a convenient alternative to checks, money orders, and cash, and may replace credit cards for some small-scale retail e-commerce. However, issues such as the interoperability of diverse systems and the systems’ inherent risks will continue to be central. The authors also suggest that although personal on-line payment systems are not likely to have a great impact on monetary policy, they do raise regulatory issues associated with consumer rights and protection.Electronic funds transfers ; Electronic commerce ; Payment systems ; Finance, Personal

E-commerce settles for established payment systems: Limited market potential for innovative payment systems

Established payment systems play a dominant role also in B2C e-commerce. Innovative payment systems can only be a success here if they pay attention to the particular features of e-commerce, convey the worth of their value-adding unique selling proposition and enjoy the support of established e-shops or financial service providers. However, apart from rare cases the conventional payment systems leave little room for the innovative systems. This holds all the more since the conventional payment systems are responding to the new demands of B2C e-commerce.Information- and communication technology; ICT; E-Business; E-Commerce; B2C-E-Commerce; Internet; e-payments