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Payments Systems in the U.S. Paperback


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Product Details

  • Paperback: 166 pages
  • Publisher: Glenbrook Partners (September 15, 2010)
  • Language: English
  • ISBN-10: 098278970X
  • ISBN-13: 978-0982789704
  • Product Dimensions: 7.4 x 9.7 x 0.4 inches
  • Shipping Weight: 12 ounces (View shipping rates and policies)
  • Average Customer Review: 4.7 out of 5 stars  See all reviews (19 customer reviews)
  • Amazon Best Sellers Rank: #315,408 in Books (See Top 100 in Books)

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Customer Reviews

4.7 out of 5 stars
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See all 19 customer reviews
Highly recommended by this payment professional.
Joe Nagy
This book does an excellent job of assembling in once concise and well written overview all those essential foundational facts.
Buzz K
The book consists of overviews of the "core" payment types - checking, ACH, cards, cash and wires.
clint swift

Most Helpful Customer Reviews

8 of 8 people found the following review helpful By Bill Harris on December 15, 2010
Format: Paperback
Without question, the best overview of the payments industry. Essential for payments professionals.

Bill Harris - Intuit, PayPal, PassMark, Personal Capital
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3 of 3 people found the following review helpful By Darren Blakely on October 6, 2010
Format: Paperback
I've spent nearly 20 years establishing and growing organizations that provide electronic payment processing solutions for mid-size and large companies throughout the U.S. One thing that has always been a challenge is finding tools to help existing and newly recruited sales talent quickly gain an understanding of the payment systems with which our solutions interface. This book is a great fit for sales organizations responsible for introducing products or services that interface with any aspect of the U.S. payments systems. The entire book require less an hour to read, provides a high level framework of payments systems information that can easily be used as a basis for deeper payments systems learning, and is written with the type of no nonsense approach that any busy professional will appreciate.
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3 of 3 people found the following review helpful By John Petersson on October 5, 2010
Format: Paperback
I have been a payments professional for over 15 years, and I have often wished there was a book I could use for training employees and partners on the details of the various types of payments they would become exposed to. In the past, I have used portions of various books, articles I found here and there, and training material I created myself. Starting today, I will use this book for training. I also found lots of background information in this book that was helpful to me. Without doubt, this is the best book available on the U.S. payments systems today. It covers all payment types, and it covers all participants in the payments system. It covers the economics of payments, technical aspects, the perspective of the participants and current trends. The book is very well written: concise, it avoids uncessary and hard-to-understand terms, and it does not require much prior knowledge of the payments industry. An excellent book!

John Petersson, Co-Founder, Vendorin, Inc.
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5 of 6 people found the following review helpful By David Birch on October 10, 2010
Format: Paperback
It does what is says on the tin, as they say here. This excellent paperback covers checks, cash (to a limited extent), ACH, cards and EFT in a clear and consistent way. It explains how each of the payment systems works and then, in a perspectives section and the end, explains how the various stakeholders (such as retailers and banks) see them. This helps the reader to understand not only the current situation but also the drivers for change.

Given Scott and Carol's expertise and experience, I was not surprised that I found it so useful. It will stay on my shelf as the introduction to the topic for some time to come and, I suspect, will become standard issue for newly-promoted managers in all sorts of businesses who have been told that they are now supposed to be dealing with payments. I found it especially useful (I am not from the US) when it went into the details of the US check environment and ACH schemes, both of which are uniquely American.

The next edition could benefit from a few more charts to help clarify some of the issues and trends, and I did find some of the "aside" boxes a bit distracting, but these are minor (and, I hope, constructive) criticisms.
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2 of 2 people found the following review helpful By R. Gutierrez on October 28, 2013
Format: Paperback Verified Purchase
When I began my career in the Payments Industry 30 years ago or so, a friend asked me a question: "What do you do for a living?" My answer "I program computers providing banks services to make payments for businesses and individuals." His response "That can't be too hard. How do you make it happen?" My answer, "Well...1) people enter data on computer terminals that are connected to a computer that connects to a program that takes in the account and money information from the person transferring the money and account number and bank information of the person who is owed the money 2) puts the information on a database, 3) takes the money away from the account, 4) connects to another program that sends the money through a phone circuit to the Federal Reserve Bank's computer 5) who sends it to the bank's computer where the person owed the money has their account, and adds the money to that account." His response - "Oh. Sounds complicated." Over the decades money has been moved as data on behalf of businesses, consumers and banks with technological changes improving the devices, methods, and communications networks, resulting in the ability to move money/data seamlessly. What is considered by end users a conceptually simple task of making a payment; information entered on the internet, a card swiped in a point-of-sale reader, a computer generating information, and most recently, Smartphones, is not simple mechanically as articulated in this publication.

This book provides payment detail articulated in a well written and concise description of the payments industry in the United States today.
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2 of 2 people found the following review helpful By Nancy King on November 28, 2010
Format: Paperback
I was fortunate to attend Carol and Scott's 2 day Boot Camp a few years ago. Having recruited in payments for a few years, Glenbrook's Payments Boot Camp filled in the missing bits of information. It also helped me to see why the payments start-ups I began to work with, were focused on changing the way things are done.

Carol and Scott are two of the most knowledgeable people on the subject and are always right on top of what's new. This book is a great resource for me, and for those that can't make the Glenbrook Boot Camp, it's the next best thing. A must have reference tool.
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