Online Public Access Catalogue

Leibbrandt, Gottfried

The pay off : how changing the way we pay changes everything / Gotffried Leibbrandt and Natasha De Terán. - London : Elliott & Thompson Limited, 2021. - xiii, 306 pages ; 24 cm

Cover --
Title --
Contents --
Introduction --
Part I: Moving money --
1. What's a payment, anyway? --
2. If money doesn't move, how does it make the world go round? --
3. Not so simple: the fundamental challenges of payment --
Part II: History --
4. The enigma of cash --
5. The war on cash --
6. Fantastic plastic: the advent of cards --
7. The mother of invention: advances in card technology --
8. Minting plastic: from credit to debit cards --
Part III: Geography --
9. Prisoners of geography: why our payment habits are national 10. Starting from scratch: how payments went mobile in China and Kenya --
11. Incredible India: the instant payment revolution --
Part IV: Economics --
12. Paying to pay: the hidden costs of payments --
13. Making money by moving money: who profits from payments? --
Part V: Big money --
14. How to steal a billion: fraud and theft --
15. Invisible plumbing: the mechanics behind payments --
16. How to move a trillion (or why we need central banks) --
17. If money never moves, how do you send it abroad? --
Part VI: The Tech revolution --
18. Crashing the party: challenging the role of banks 19. Cashing in on cards: the rise of the acquirers --
20. Live now, pay later: the allure of invisibility --
21. The new oil? The importance of data --
22. In code we trust: meeting the cryptocurrencies --
23. BigTech and banks enter the fray --
24. Crypto for grown-ups: central banks go digital --
25. Open access or closed loops: how payment networks compete for customers --
Part VII: Politics and regulation --
26. Who's running the show? Rules and regulators --
27. Europe gets a phone number: how EU regulators reshaped payments --
28. How payments became weaponised 29. Follow the money: payment trails and the fight against financial crime --
30. No way to pay: excluded from the payment system --
Epilogue: What's next? --
Acknowledgements --
Sources --
Index --

How we pay is so fundamental that it underpins everything - from trade to taxation, stocks and savings to salaries, pensions and pocket money. Rich or poor, criminal, communist or capitalist, we all rely on the same payments system, day in, day out. It sits between us and not just economic meltdown, but a total breakdown in law and order. Why then do we know so little about how it really works?; As you read this, technology is dismantling payment barriers and governments are erecting them; cash is on the way out, and crypto and BigTech are fighting their way in. The Europeans are heavily regulated, the Americans oddly backward, and the Chinese hoping to lead the way forward. Challenging our understanding about where financial power really lies, The Pay Off shows us that the most important thing about money is the way we move it.; Leibbrandt and De Teran shine a light on the hidden workings of the humble payment - and reveal both how our payment habits are determined by history as well as where we go from here. From national customs to warring nation states, geopolitics will shape the future of payments every bit as much as technology.


Electronic commerce.
Electronic funds transfers.

332.178 / LEI