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.