I am looking for an article or book chapter that gives the definitive 
framework or classification or model to help us understand payments. A
payment fits into a broader business process consisting of a set of
logical steps. The offer, the acceptance, the satisfaction, the
payment, the receipt. The actual payment process between two parties
consists of a set of steps the identification presentation of both
parties, the verification of that identification by both parties, the
agreement to transfer value, the transfer of value, the
acknowledgement of that value and the recording of the process.

What actually happens in these processes depends on where the
transaction happens, the value of transaction, the relationship
between the parties, the medium of payment.

What I am looking for is an article or description that describes the
sort of thing I am talking about above but in a much better more
coherent way. Someone familiar with this field may immediately
recognise the book or article(s) that gives a good theoretical
framework for the payments cycle.

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Request for Question Clarification by easterangel-ga on 13 Dec 2002 22:56 PST

HI! Should a specific article be found or anything which discusses the
payment cycle be enough as a legitimate answer? Just let me know. :)

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Clarification of Question by thiriperson-ga on 14 Dec 2002 05:35 PST

I have found an answer so I will close the question.

The answer is in several papers from epso at

http://epso.jrc.es/newsletter/vol05/welcome.html