Download or read book Nonbanks in the Payments System: Innovation, Competition, and Risk -- A Conference Summary written by Richard J. Sullivan and published by DIANE Publishing. This book was released on 2008-05 with total page 105 pages. Available in PDF, EPUB and Kindle. Book excerpt: Payments & payments processing (PP) have continually embraced new technol. At the same time, the industry has been shaped by its share of entry & exit, through startups, mergers, & the reorg. of bus. seeking the proper scope of integration. These changes have enabled nonbank org. to play a role in the PP system. Nonbanks have introduced many innovations to the PP system in recent years, leading to greater efficiencies in PP. At the same time, nonbanks have changed the dynamics of competition in PP, leading to a significant change in the system¿s risk profile. These essays summarize the proceedings of a conference which addressed many of the key questions raised by the growing presence of nonbanks in payments.