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Sealy and Hooley's Commercial LawText, Cases, and Materials

Sealy and Hooley's Commercial Law: Text, Cases, and Materials (6th edn)

David Fox, Roderick Munday, Baris Soyer, Andrew Tettenborn, and Peter Turner
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date: 13 April 2024

p. 58717. Payment cards and electronic moneylocked

p. 58717. Payment cards and electronic moneylocked

  • D Fox, D FoxProfessor of Common Law, University of Edinburgh
  • RJC Munday, RJC MundayReader Emeritus in Law, University of Cambridge
  • B Soyer, B SoyerProfessor of Commercial and Maritime Law, Institute of International Shipping and Trade Law, Swansea University
  • AM TettenbornAM TettenbornChair in Law, Swansea University
  •  and PG TurnerPG TurnerVisiting Senior Fellow of the Melbourne Law School

Abstract

This chapter focuses on the use of payment cards in commercial transactions, taking into account traditional credit and debit cards and also the more modern contactless instruments, including smartphones, which has been made increasingly available through mobile payment technology. This chapter begins with a discussion of the main types of payment card in general circulation in the UK, including credit (and charge) cards, debit cards, ATM cards, and multifunctional cards. It then considers contractual networks and the regulation of contractual relationships and finally liability for unauthorised transactions and connected lender liability.

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