Payment Systems

Catalog description

Provides an understanding of the payments landscape in the United States by exploring readings related to the nature of money. Given recent changes in the payments landscape, the course will focus on new solutions for transferring value, including real-time payments, stored value cards, credit cards, debit cards, cross-border remittances, and e-wallets for various types of currencies. For each payment system, we will explore (1) the mechanics of a particular payment system, (2) the source (statutory or private) for the rules governing that system, and (3) a focus on how the legal or private rules for that system address errors and fraud.