Number: RL31476
Title: Electronic Payments and the U.S. Payments System
Authors: Walter W. Eubanks and Pauline H. Smale, Government and Finance Division 
Abstract: This report provides a framework for understanding the paper-based and electronic components of the current U.S. payments system. It begins with an overview of the payments system, explaining the relative size and growth of various methods of payment. It discusses paper-based payments and then examines the operations of wholesale and retail electronic payments. Finally, the report discusses some of the major policy issues concerning the regulation and supervision of electronic payments.
Pages: 20
Date: Updated June 27, 2002