Paying with Plastic, second edition: The Digital Revolution in Buying and Borrowing

Paying with Plastic is the definitive source on an industry that has revolutionized the way we borrow and spend. It delivers an entertaining discussion of the impact of an industry that epitomizes the notion of two-sided markets: those in which two or more customer groups receive value only if all sides are actively engaged. The authors also examine the implications of the recent antitrust cases on the industry as well as other business and technological changes—including the massive consolidation brought about by bank mergers, the rise of the debit card, and the emergence of e-commerce—that could alter the payment card industry dramatically in the years to come.

“Paying with Plastic provides a rigorous analysis and deep insights about the payment card industry’s fascinating institutional features. This book will appeal not only to policymakers and business executives, but also to the theoretically inclined economist. A remarkable achievement.” — Jean Tirole, 2014 The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2014.