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Rating: 
Summary: A monumental effort!
Review: I picked up this book because I have always been interested in the history of money and the power of gold as currency. If you are fascinated by the concept of money and how it makes the world go round, Paying With Plastic will whet your appetite.To many a layperson, paper money has intrinsic value ostensibly because it is backed by gold. That, is furthest from the centre of gravity. Since Bretton Woods, paper money has not been backed by gold and has absolutely no value. The "value" of paper money is perceived and has "value" only because governments say so and because we believe in it. In fact, paper money forms only a very small portion of the money that is in circulation. These days, money is in the form of digits, bits and bytes - expressed as numbers in some computer harddisk. Paying With Plastic explores a new form of money and how credit cards are the latest form of money - evolving from metal coins, bills of exchange, and paper money. The book traces the early and painful development of what was initially a clumsy mode of payment to what is today one of the most effecient, organised and widespread form of payment. Paying With Plastic is the leading book of its kind - thorough, yet readable. If you are interested in the concept of money and how the credit card system works, then this book is for you.
Rating: 
Summary: Bias comes through.
Review: The authors both are long-time consultants for Visa and it is very apparent in this book. The discussion of MasterCard, Discover, and American Express is limited. The treatment of various legal actions (Nabanco, US DOJ, WalMart, duality) is one sided. There is minimal study of the economics of the business from vantage points (consumer, merchant, acquirer, Issuer, co-branding partner, etc.) other than the card association. It's clear from some of the statistical material prsented that Visa particpated in the book. Ever see JAG? It's about a real portrayl of the Navy & Marine Corp as this is of the card industry.
Rating:
Summary: Bias comes through.
Review: The authors both are long-time consultants for Visa and it is very apparent in this book. The discussion of MasterCard, Discover, and American Express is limited. The treatment of various legal actions (Nabanco, US DOJ, WalMart, duality) is one sided. There is minimal study of the economics of the business from vantage points (consumer, merchant, acquirer, Issuer, co-branding partner, etc.) other than the card association. It's clear from some of the statistical material prsented that Visa particpated in the book. Ever see JAG? It's about a real portrayl of the Navy & Marine Corp as this is of the card industry.
Rating:
Summary: Excellent overview of the development of cards
Review: The authors bring disciplined methodology to the study of "industrial development," using credit cards as a case study. The book is useful not just for its anecdotal review of how credit cards got started & how they are used; and not just for the wealth of statistics it provides on how card & other payment usage has changed over the years; but most importantly, by putting some structure around all that material so that we can understand it coherently. So many books on banking & on industrial development (like things by guru Tom Peters) are just so many anecdotes strung together for 100s of pages, with no "system" for understanding what's being talked about. This book's strength is that it provides the reader with a way of interpreting not only what's in the book but with a way of understanding the incessant new developments in the industry that we read about in the trade press every day. I recommend this book highly to anyone in banking or interested in what's going on in the payments system.
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