Electronic Value Exchange

Electronic Value Exchange

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Electronic Value Exchange examines in detail the transformation of the VISA electronic payment system from a collection of non-integrated, localized, paper-based bank credit card programs into the cooperative, global, electronic value exchange network it is today. Topics and features: provides a history of the VISA system from the mid-1960s to the early 1980s; presents a historical narrative based on research gathered from personal documents and interviews with key actors; investigates, for the first time, both the technological and social infrastructures necessary for the VISA system to operate; supplies a detailed case study, highlighting the mutual shaping of technology and social relations, and the influence that earlier information processing practices have on the way firms adopt computers and telecommunications; examines how a€œgatewaysa€ in transactional networks can reinforce or undermine established social boundaries, and reviews the establishment of trust in new payment devices.Most subscribers opted for negative authorization, meaning that card numbers were simply checked against a a€œderoga€ file, ... The automated decision significantly sped up the authorization process, resulting in an average local authorization time of just twenty-two seconds. ... of their subscribersa€” interchange authorizations required an additional, a€œtwo-leggeda€ call to the issuera#39;s center.6 Credit Systemsanbsp;...

Title:Electronic Value Exchange
Author:David L. Stearns
Publisher:Springer Science & Business Media - 2011-01-04


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