The PAYTECH Book is the payment technology handbook for investors, entrepreneurs and finance visionaries.
Get up to speed on the latest industry developments, grasp the market dynamics of the ‘fintech revolution’, realize the sector’s potential, and gain expert insight on investment and entrepreneurial opportunities.
MARKOS ZACHARIADIS is Associate Professor of Information Systems & Management at Warwick Business School & FinTech Research Fellow at the Cambridge Centre for Digital Innovation (CDI), University of Cambridge. Markos’ research sits at the cross section of economics of digital innovation, financial technology studies, and network economics, and has studied extensively the economic impact of ICT adoption on bank performance, the diffusion of payment networks, and the role of data & standards in payment infrastructures (SWIFT) and financial markets (LEI) among other things. His research has been published in top academic journals such as MIS Quarterly, Research Policy, and Business History and has been awarded the NET Institute Award (NYU Stern Business School) for his study on the economics of payment networks, and the SWIFT Institute & SMS awards for his research on Open APIs and Digital Transformation in Banking.
ROBERT COURTNEIDGE is the Firm’s Global Head of Cards & Payments. Robert is noted for his knowledge and experience in the e-money area, where he has acted on matters for major financial institutions around the world, as well as for internationally well-known technology providers. He has more than 26 years of experience in the cards and payment systems and is skilled in all aspects of consumer finance issues, including consumer protection, banking regulation and compliance and data protection.
SUSANNE CHISHTI is the Founder and CEO of FINTECH Circle and the FINTECH Circle Institute, the leading peer-to-peer learning platform providing in-person and online courses across fintech enterprise innovation, wealthtech, insurtech, artificial intelligence and blockchain applications in finance, crypto-currencies and startup methodologies. As Co-Editor of the global Bestseller The FINTECH Book, she has been selected as a “City Innovator – Inspirational Woman” in 2016 and one of the top 100 fintech influencers globally in 2019 after working for 14 years across Deutsche Bank, Lloyds Banking Group, Morgan Stanley Investment Management and Accenture in London and Hong Kong.
TONY CRADDOCK is Director General of the Emerging Payments Association. (EPA) Often outspoken and – by his own admission – not always right. Tony is passionate about helping companies succeed in fast growing markets such as payments. Tony believes that being part of a community like the EPA “allows us all to be part of a powerful catalyst for growth and payments innovation”. An enthusiastic public speaker and colourful media commentator about everything to do with payments. He’s a ‘serial entrepreneur’ whose biggest challenge is to develop his current portfolio rather than coming up with yet more great ideas. Cycling with mates keeps him out of the pub/house/trouble at the weekend. He doesn’t buy a newspaper out of principle (“it’s always yesterday’s news and everyone has it.”).
About this book
The PAYTECH Book is the first crowdsourced book on payment technologies and new business models in the global payment sector to be published by Wiley in 2020. It brings together entrepreneurs, investors and PayTech experts, who exclusively share their visions and unique insights on the nature of payments, payment systems infrastructures, regulations, the impact of new technologies such as blockchain/DLT and AI as well as provide case studies and projections about the future of payment innovation. The book is co-edited by a team of four recognised FinTech and PayTech thought leaders with decades of industry experience. Be the first one to know when The PAYTECH Book is published by signing up to our newsletter and following us on Twitter.
Table of contents
From banknotes and coins, to plastic cards and mobile devices, payments have evolved over the centuries to include a number of instruments and means that help financial transactions to take place. But what exactly is a payment and how are these cleared and settled in a modern financial system? What are the elements which are necessary in order to facilitate a payment? This chapter looks at the broader question of “what’s in a payment?”, and attempts to provide explanations and descriptions of the various stages and elements of payment systems. It looks at these from historical, technological, procedural and social perspectives.
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