The PayTech Book: The Payment Technology Handbook for Investors, Entrepreneurs, and FinTech Visionaries
by Susanne Chishti  (Editor), Tony Craddock  (Editor), Robert Courtneidge (Editor), Markos Zachariadis  (Editor)

About the Author
Susanne Chishti (Editor in Chief)is the CEO of FINTECH Circle, Europe’s first angel network focused on FinTech opportunities and founder of the FINTECH Circle Institute, the leading FinTech learning and innovation platform offering corporate innovation workshops to C-level executives and online FinTech courses. She is also the bestselling co-editor of The FinTech Book, The WealthTech Book and The InsurTech Book (published by Wiley).

Tony Craddock, an enthusiastic leader of the world’s most influential association in payments, a lively public speaker and avid networker, Tony is passionate about payments and the difference they can make to lives everywhere. Tony shares his deep payments knowledge born from 15 years’ experience, and his evangelical zeal for innovation, when speaking and chairing conferences; publishing books and white papers; or enrolling leaders to join the Emerging Payments Association (EPA)’s collaboration network.

Robert Courtneidge was appointed CEO of international payments specialist Moorwand in 2018, following a distinguished career in the card and payments industry dating back nearly 30 years. He has been named amongst the Payments Power 10, a highly competitive ranking of the most influential payments industry contributors, for six consecutive years and was voted No. 1 in 2015.

Markos Zachariadis is Professor and Chair in Financial Technology and Information Systems at the Alliance Manchester Business School, University of Manchester, and a FinTech Research Fellow at the University of Cambridge. Markos’s research sits at the cross-section of economics and strategy of digital innovation, financial technology studies and network economics, and he has studied extensively the economic impact of information and communication technology adoption on bank performance, the diffusion of payment networks and the role of data and standards in financial infrastructures and markets. His research has been published in top academic journals and books, and he has been awarded the NET Institute award for his study on the economics of payment networks and the SWIFT Institute and GRI awards for his research on open application programming interfaces and digital transformation in banking.

About this Book
The only globally-crowdsourced book on the future of payments (“PayTech”), offering comprehensive understanding of a rapidly evolving industry at the centre of global commerce

The movement of money between individuals, organisations and governments is crucial to the world economy. The payments industry has undergone immense transformation -– new regulations, technologies and consumer demands have prompted significant changes to the tools, products and use cases in payments, as well as presented lucrative opportunities for entrepreneurs and FinTech professionals. As payment technologies become faster and more efficient, companies and investors are increasingly favouring PayTech innovation due to better customer experience, increased revenues and manageable risks. The PAYTECH Book brings together a diverse collection of industry experts to provide entrepreneurs, financial services professionals and investors with the answers they need to capitalise on the highly profitable PayTech market.

Written by leaders in the global FinTech and payment sectors, this informative volume explains key industry developments and presents valuable first-hand insights from prominent industry practitioners. Contributors include advisors and consultants to the payments and financial services industry, entrepreneurs and business owners utilising cutting-edge PayTech capabilities, academic researchers exploring the social-political-economic impact of PayTech and many others. Detailed chapters cover essential topics such as cybersecurity, regulation and compliance, wholesale payments and how payment systems currently work and how PayTech can improve them. This book:

• Defines PayTech and identifies its key players
• Discusses how PayTech can transform developed markets and accelerate growth in emerging economies
• Describes how PayTech fits into the larger FinTech ecosystem
• Explores the future of PayTech and its potential as an agent of social change and financial inclusion
• Provides diverse perspectives on investment in PayTech and what consolidation and expansion will look like
  

The PAYTECH Book: The Payment Technology Handbook for Investors, Entrepreneurs and FinTech Visionaries is an indispensable source of information for FinTech investors and entrepreneurs, managers from payments companies and financial services firms and executives responsible for payments in government, corporations, public sector organisations, retailers and users of payments.

Brief Contents
1. Payments Explained
    Payments are Getting Political Again 6
    Money: A History of Gods and Codes 11
    Payments Explained 14
    From Barter to App – How Payments Have Changed 17
    Do We Still Need to Pay? 21
    How ACH and Real-Time Payments Clearing and Settlement Works 23
    Payments as a Service 26
    The New Emerging Banks and Their Role in Payments 28
    The Payments Race 31
    PayTech Regulation Trends 34
    An Innovative Local Payments Method in an Ancient Land 37
2. Payment System Infrastructures and Money Transfer Technologies
    The Convergence of Card Payments and Bank Payments 46
    Instant Payments: A New Deal for the Payments Market? 49
    PIN on Mobile – A Pivotal Moment for Payments 51
    PayTech in the Cloud 54
    The Rise of a Super-Correspondent Banking Network 56
    Why Distinctions Within Mobile Wallets and Tokenization Matter 59
    The Future is Already Here; It is Just Not Evenly Distributed 61
    PSD2 Open Banking: The Challenges of Third-Party Provider Identity and Regulatory Checking 64
    Taking PayTech to the Villages of India 68
3. Payments Regulation and Compliance
    How Payments Regulation and Compliance Can Create a Better Future 74
    Refining the Collective Responsibility for Compliance 78
    Can Operational Agility Grow Payments in the New Online Platform Marketplaces? 81
    The Hidden Value of Greater Standardization for the EU-Wide FinTech Market 84
    Is Europe a Good Example of Open Banking? 86
    Taking Back the Power: Regulations in the EU are Changing the Face of Banking 88
    Achieving Control Effectiveness and Sustainable Compliance Using Nine Factors 91
    Money Laundering Laws, Technology and Keeping Up With Criminals 94
    Dynamic Regulation Readiness – Implementing the 5th Anti-Money Laundering Directive 97
    eKYC: The Next Mountain for e-Businesses to Climb 100
    AML Systems After Madoff: Ponzi-Identification Using “Complexity” 102
4. Blockchain Regulation Around the World
    Understanding Cryptocurrencies, Blockchain Technology and Regulations 110
    Blockchain, Cryptocurrencies and How They Fit Within Current Payments Regulation 114
    Blockchain and Beyond 117
    Will Central Banks Adopt the New World Economy of Cryptocurrencies? 119
    The Case for a National Cryptocurrency 122
    Regulation and the Future of Blockchain: Which Approach Will Succeed? 124
    Web 3.0 – The Internet of Value 127
    Blockchain – An Elixir for Anti-Money Laundering? 129
    Facilitating Online Crypto-Payments Now and in the Future 132
    A New Law for Derivatives Markets and the Use of Smart Contracts 134
    PayTech and Blockchain: Adjusting for Security and Risk 137
    Cryptocommodities: An Essential Element of Decentralized Payments 140
5. Payments in Practice
    The Perspective of a Passionate Payments CEO 148
    Plugging the Data Black Hole: How Mobile Self-Checkout Can Help Revive the High Street 152
    How UnionPay Quick Pass is Beating Alipay and WeChat Pay in China 155
    How Payment Agility and Cash-for-Carbon Can Solve a Global Problem for Mankind 158
    Revolutionizing the Retail Industry Through Integrated Payments Systems 162
    Asset Management and Payments in India – So Near and Yet So Far 164
    Exploiting the Value of Data Embedded in Payments Systems 167
    Reinventing the Customer Experience by Focusing on the After-Payment Emotional Experience 170
    How Open Banking and Payment Touchpoints Will Save Banks 172
    Why Personal Financial Management Will Be Embedded Into the Next Generation of Payments 175
    How Helping Microbusinesses Accept Digital Payments Could Transform Kenya’s Economy and Enhance Inclusion 178
    How Decentralization Can Create a Customer-Centric Ecosystem 182
6. Blueprint for Change
    A Blueprint for Change 188
    Accelerating the Adoption of PayTech Innovations 192
    How to Build a Successful PayTech Product 195
    The Future of Digital Payments Market Infrastructures 198
    It’s Money, Jim, But Not As We Know It 201
    Payments as Open Business Banking Enabler for the Gig Economy 206
    The Financial Arms Race: The Game With No Rules 209
    How Network Paradigms Can Lead to New Payments Innovations 212
    It’s the Ecosystem, Stupid! Keeping Ahead in a Payments Ecosystem 215
    Mobile Money: Creating a Cash-Light Africa to Solve the Financial Inclusion Problem 217
    Back to the Future: A Miraculous Time-Trip Through the Future, Present and Past of Payments 222
    Fifteen Ways in Which Our Digital Future Will be Shaped by PayTech 225
List of Contributors 229
Index 236

Pages: 256 pages
Publisher: Wiley; 1 edition (January 22, 2020)
Language: English
ASIN: B0845TKD8L