This text provides thorough coverage of the still-dominant traditional payment systems and the non-paper payment systems that will dominate in the future. The authors? integration of text, cases, and problems allows teachers to arrange and bundle the materials to suit their particular teaching styles. Increasingly, payments law is practically important, legally complex, and intellectually rich. This book is designed to make the subject more accessible, in all these respects, for students learning payments law and professors teaching it.