PURCHASE, N. Y. — MasterCard International has fired a significant shot in the interchange wars by releasing a paper that argues in favor of credit/debit card interchange as a benefit to all the parties that use the card payments system.

The paper, "Benefits of Open Payment Systems and the Role of Interchange," underscores the enormous benefits delivered by electronic payments, which have become so ingrained in everyday life they are often taken for granted or misunderstood. Few people ever stop to consider the complex and sophisticated system that allows transactions to occur within seconds, almost anywhere in the world, the card brand said.

"Perhaps the easiest way to grasp the value of electronic payments is to envision a world without them. Clearly, if electronic payments came to a sudden halt, many facets of commerce-travel, trade and the Internet just to name a few-would face dire consequences," MasterCard President/CEO Robert Selander wrote in the paper's introduction.