Class 6: Payments

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Lecture Slides 

Class 6 Lecture Slides: Payments (PDF - 1MB)

Readings

'The Digitalization of Payments and Currency: Some Issues for Consideration' Lael Brainard, Federal Reserve Board (February 5, 2020)

'7 Key Payments Innovations in Fintech for 2020' Artur Olechowski, Codete (February 13, 2020)

'9 Payment Trends That Will Shape 2020' Estelle Mense, BlueSnap (December 5, 2019)

Study Questions / Issues to Prepare

  1. What are the challenges and opportunities in the current payment system architecture?
  2. What lessons can be drawn from Big Tech payment innovations such as Alipay, WeChat Pay, M-Pesa, Paytm, Kakao Pay, Amazon Pay, Apple Pay, & Google Wallet? What lessons from FinTech disrupters such as Plaid, Square, Stripe, Toast, TransferWise, Venmo, etc.? What are incumbents such as the major banks as well as Visa, Mastercard, and PayPal responding to the changing landscape?
  3. Do stable value coins and tokenized assets fill real gaps in payments and the financial markets? If so, will stable coins or tokenization take off or just be a passing fad?