Product Type: Market Research Report
Published by: BCC Research
Published: September 1998
Product Code: R2-262Description BCC's study presents an in-depth analysis of the impact electronic transactions will have on the way business is conducted both domestically and internationally. This impact is measured on a quantitative basis through year 2002. This report encompasses eight principle areas: electronic money--what it is--what it is not; the nature of electronic money transactions, including both consumer and corporate transactions; the delivery systems and access devices which drive electronic transactions; the role of technology, i.e., the Internet among others-- in shaping the electronic money concept; control requirements, especially security consideration in mitigating against losses relating to electronic transactions; monetary considerations, including the impact on checks and cash usage as well as the monetary supply will be measured; the effect business affiliations and strategic alliances will have on electronic transactions; regulatory implications resulting from electronic transactions.
Table of Contents Introduction
Study Goal And Objective
Reason For Doing The Study
Contribution Of This Study And For Whom
Scope And Format
Methodology
Information Sources
Related Bcc Work
Bcc On-Line Service
Internet
Summary
Domestic Consumer
Domestic Business
International
Category
Industry Overview
Electric Money Definition
Overview
Electronic Money—What It Is
Electronic Money—What It Is Not
Electronic Money—Why?
The Nature Of Electronic Money Transactions
Overview
Background Information
Consumer Transactions
Retail Purchases
Atm Activity
Buying/Selling Securities
Direct Deposits
Preauthorized Automatic Deduction (Direct Payment)
Home Banking/Bill Payment
Bill Presentment
Other
Adding Value To Stored Value Cards
Fund Transfers Between Accounts
Check Cashing At An Atm
Wire Transfers
Corporate Transactions
Electronic Benefits Transfer (Ebt)
On-Line Purchases By Businesses
Fedwire
Projection Of Activity
Summary Activities
Consumer
Retail Purchases
Direct Pay Consolidation
Direct Pay—Other
Direct Pay—Consumer Mortgages
Direct Deposit
Buying/Selling Securities
Atm Cash Withdrawals
Bill Payment
Bill Presentment
All Other
Corporate
Ebt Payments
Fedwire Activity
On-Line Purchases By Business
Delivery Systems
Overview
Access Devices
Touch-Tone Phones
Atms
Computers
Projection Of Activity
Technology Thrust
Overview
Role In Electronic Money
The Internet
Internet Access
Control Requirements
Overview
Transaction Control
Security Considerations
Secure Electronic Transaction (Set) Protocol
Security At A Self-Service Check Cashing Atm
Internet Concerns
Operations Aspects
The Year 2000 Problem (Y2k)
Projection Of Activity
Losses From Fraud
Monetary Considerations
Overview
Impact On Use Of Checks And Cash
Money Supply Observations
Regulatory Implications
Overview
Issues
Regulatory Views
What About Citigroup, Inc.
International Activities
Overview
Globalization
An Opportunity In Japan
Projection Of Activity
Smartcard
Fedwire Allocation
Atm Activity
Other
Summary
Business Affiliations/Strategic Alliances
Overview
The Role Of Affiliations/Alliances
Major Affiliations/Alliances
Financial Services Technology Consortium (Fstc) And The Treasury Department
Integrion Financial Network And Checkfree Corporation
Msfdc
New York Smart Card Program
Banking Industry Technology Secretariat (Bits) And Financial Services Technology Consortium (Fsct)
America Online (Aol) And Security Dynamics Technology. Aventail Corp., Axent Technologies And Checkpoint Softwares Technologies
Citicorp And Travelers Group (Citigroup)
Nationsbank And Bankamerica
Telecommunications (Tci) And Sun Microsystems (Sun)
The European Union (Eu)
Appendix
Glossary
Company Profiles
Financial Services Technology Consortium (Fstc)
Financial Management Service (Fms)
Checkfree
Automatic Data Processing, Inc. (Adp)
Banking Industry Technology Secretariat (Bits)
Integrion Financial Network
Citibank, N.A.
Mr. Payroll Corporation
New York Automated Clearing House Association
America Online (Aol)
Microsoft
List Of Tables
Summary Table
Summary Of Electronic Money Activity— Dollar Volume, 1997-2002
1 Advantages Accruing From Electronic Transactions
2 Number Of Atms In Service, 1997-2002
3 Benefits Of Electronic Bill Presentment And Payment Services
4 Benefits Of A Procurement Card Program
5 Summary Of Funds Transfer Service Activity Via Fedwire, 1995-1997
6 Summary Of Securities Transfer Services Activity Via Fedwire, 1995-1997
7 Summary Of Consumer Electronic Money Activity Transactions, 1997-2002
8 Summary Of Consumer Electronic Money Activity, 1997-2002
9 Summary Of Corporate Electronic Money Activity, 1997-2002
10 Summary Of Corporate Electronic Money Activity 1997-2002
11 Summary Of Retail Purchases
12 Summary Of Retail Purchase Transactions
13 Consolidation Of Direct Pay Activity, 1997-2002
14 Summary Of Direct Payments—Other: Dollar Volume, 1997-2002
15 Summary Of Direct Payments—Other: Transaction Volume, 1997-2002
16 Summary Of Automatic Deductions Of Consumer Mortgage Payments
17 Summary Of Civilian Direct Deposit Activity
18 Consolidation Of Direct Deposit Activity, 1997-2002
19 Summary Of Online Securities Brokerage Activity
20 Summary Of Atm Cash Withdrawal Activity
21 Summary Of Bill Payment Activity, 1997-2002
22 Summary Of Bill Presentment Activity, 1997-2002
23 Summary Of All Other Consumer Activity, 1997-2002
24 Summary Of Ebt Disbursements, 1997-2002
25 Summary Of Ebt Disbursements— Transaction Volume, 1997-2002
26 Summary Of Funds Transfer Service Activity Via Fedwire, 1997-2002
27 Summary Of Securities Transfer Services Activity Via Fedwire, 1997-2002
28 Consolidation Of Funds And Securities Transfers Via Fedwire, 1997-2002
29 Summary Of Procurement Card Activity, 1997-2002
30 Summary Of Functionality By Access Device
31 Remote Banking Access Devices
32 The Growth Of Technology Sales
33 The Growth Of Technology Employment
34 Technology Expenditures By Commercial Banks
35 Summary Of On-Line Computer Users
36 Internet Service Providers: Number Of Subscribers
37 Internet Service Providers Sample Subscriber Rates
38 Y2k Expenditures By Financial Services Companies
39 Summary Of Card-Based Volume. 1997
40 Distribution Of Card Based Fraud Losses
41 Matrix Of Monetary Supply Components
42 Distribution Of M1 Components
43 Summary Of Regulatory Issues Relative To Electronic Money
44 Agency Views Of Regulatory Issues Concerning Electronic Money
45 Summary Of Legislation Relating To Eft 99
46 Benefits Of Electronic Payments Versus Payment By Paper Checks
47 Summary Of Government-Wide Treasury Disbursed Payment Volume, Fiscal Year Ended 9/30/97
48 Projection Of Government-Wide Treasury Disbursed Electronic Payment Volume
49 Projection Of Government-Wide Treasury Disbursed Electronic Payment Volume
50 Examples Of Section 20 Affiliate Activity
51 Summary Of International Smartcard Activity, 1997-2002
52 Projection Of Fedwire International Related Activity, 1997-2002
53 Summary Of Atm International Activity, 1997-2002
54 Summary Of International Electronic Money Activity, 1997-2002
55 Summary Of International Electronic Money Transactions, 1997-2002
56 The Changing Banking Landscape
57 The European Union
58 Checkfree 3-Bill Mechanics
59 Electronic Bill Presentment And Payment Service Product Features
List Of Figures
Summary Figure
Summary Of Electronic Money Activity— Dollar Volume, 1998 And 2002
1 Bank In-House Solution
2 Third Party Processor Solution
3 Credit Card Purchase Solution
4 Debit Card Network Solution
5 Credit Purchase Solution
6 Ach Purchase Solution
7 Brokerage Solution
8 Insurance Solution
9 Airline Solution
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