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Size matters: Economies of scale in European payments processing

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Author Info
Beijnen, Christine
Bolt, Wilko

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Abstract

This paper investigates the existence and extent of economies of scale in the European payment processing industry. It is expected that the creation of a single European payments area (SEPA) will spur consolidations and mergers among European payment processors to more fully realize payment economies of scale. We find evidence for the existence of significant economies of scale using data of eight European payment processors during the years 1990-2005. The analysis also reveals that ownership structure is an important factor to explain cost differences across European processing centers.

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File URL: http://www.sciencedirect.com/science/article/B6VCY-4T1Y3SJ-2/2/61d0eeef8338e2377b03b483c96e81bb
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Publisher Info
Article provided by Elsevier in its journal Journal of Banking & Finance.

Volume (Year): 33 (2009)
Issue (Month): 2 (February)
Pages: 203-210
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Handle: RePEc:eee:jbfina:v:33:y:2009:i:2:p:203-210

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Keywords: SEPA Payment processing Scale economies Ownership;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Wilko Bolt & David Humphrey, 2005. "Public good issues in TARGET - natural monopoly, scale economies, network effects and cost allocation," Working Paper Series 505, European Central Bank. [Downloadable!]
  2. Wilko Bolt & David Humphrey, 2007. "Payment Network Scale Economies, SEPA, and Cash Replacement," Review of Network Economics, Concept Economics, vol. 6(4), pages 453-473, December. [Downloadable!]
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  3. Patrick van Cayseele & Christophe Wuyts, 2006. "Measuring Scale Economies in a Heterogeneous Industry: The Case of European Settlement Institutions," SUERF Studies, SUERF - The European Money and Finance Forum, number 2006/3 edited by Morten Balling, October. [Downloadable!]
  4. Schmiedel, Heiko & Malkamaki, Markku & Tarkka, Juha, 2006. "Economies of scale and technological development in securities depository and settlement systems," Journal of Banking & Finance, Elsevier, vol. 30(6), pages 1783-1806, June. [Downloadable!] (restricted)
  5. Robert M. Adams & Paul W. Bauer & Robin C. Sickles, 2002. "Scope and scale economies in Federal Reserve payment processing," Working Paper 0213, Federal Reserve Bank of Cleveland. [Downloadable!]
  6. Paul W. Bauer & Gary D. Ferrier, 1996. "Scale economies, cost efficiencies, and technological change in Federal Reserve payments processing," Proceedings, Board of Governors of the Federal Reserve System (U.S.), pages 1004-1044.
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Wilko Bolt & Sujit Chakravorti, 2008. "Economics of Payment Cards: A Status Report," DNB Working Papers 193, Netherlands Central Bank, Research Department. [Downloadable!]
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