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Strategies of Competition in the Bank Card Business
Innovation Management in a Complex Economic Environment

Jarunee Wonglimpiyarat

This is the first book to describe the history of the innovation of the bank card, from development to commercialization. It describes the strategies employed by innovators in order to achieve competitive advantage, and the use of technology to manage implementation. Interviews and questionnaire surveys are conducted with all the major player in the bank card industry – Barclays, Citibank, American Express, Diners Club, Visa International, Mondex International and Europay. The result is a clear and penetrating insight into all aspects of the bank card market.
… Innovations in bank cards – ATM/cash cards, credit cards, EFTPOS/debit cards and smart cards – are analyzed; as are the collaborative strategies employed by the banks to realize the benefits of bank card technology. Strategies of Competition has been written for bankers and those who work in the financial service industry, students undertaking courses in technology/strategic management, and MBA students. It provides a detailed and up-to-date analysis of the logic that banks and bankers adopt in setting bank card strategies under a complex socio-economic environment and competitive conditions. Innovation Management in a Complex Economic Environment is essential reading for all who need to understand the strategic integration and management of banking products and innovations as they relate to the bank card business. Specific topics addressed include: the use of technology in providing banking products/services; strategies in securing the benefits of innovations; and banking sector capability in the innovation and launch of smart cards.

Preface Acknowledgements 1 ATM/Cash Cards 2 Credit Cards 3 EFTPOS/Debit Cards 4 Competition, Innovation and Performance: The Evolution of the Bank Card Business 5 Smart Cards Notes References Index
“This publication will be welcomed by both practitioners and academics, as it is to my knowledge the first attempt to understand the innovation process with respect to bankcards, and to research the reasons behind some of the success and failures that have occurred in this increasingly important means of payment.” Professor Steve Worthington, Monash University “Ms Wonglimpiyarat has written a most useful work bringing together for the first time, in one publication, a comprehensive, high level history of the development of ATM, debit and credit cards. This is a particularly complex field which, rather surprisingly, is not well documented at a high level. This book will be useful at several levels – for the student seeking an introduction to a field which is of growing importance in all advanced economies and for the professional working in the field and wishing to know more about the developments.” John Hardy, Chief Executive, LINK Interchange Network Ltd. “Strategies of Competition in the Bank Card Business applies the concept of technology management to the financial services industry and the banking industry. The author has successfully combined policy research with technology management to present the bank card business in a new way.” His Excellency Mr. Phinij Jarusombat, Minister of Science and Technology, Thailand

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