Abstract
Buyer and Seller must first agree on a payment instrument, be it cash, cheque, card or electronic. These various instruments are the ‘raw materials’ of payment systems and have evolved in response to demands for ease of use, cost reduction, security and more information, as well as technological progress.
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Notes
BIS, CPSS: A glossary of terms used in payments and settlement systems, March 2003.
Payments Council: National payments plan, Consultation on change in UK payments, November 2007.
PSE Consulting: Europe set to lose its war on cash, March 2008.
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© 2008 Dominique Rambure and Alec Nacamuli
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Rambure, D., Nacamuli, A. (2008). Payment Instruments. In: Payment Systems. Palgrave Macmillan Studies in Banking and Financial Institutions. Palgrave Macmillan, London. https://doi.org/10.1057/9780230227217_2
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DOI: https://doi.org/10.1057/9780230227217_2
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-30055-6
Online ISBN: 978-0-230-22721-7
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