IDEAS home Printed from https://ideas.repec.org/a/onb/oenbmp/y2019i19-q1-q2b7.html
   My bibliography  Save this article

The euro’s effects on noncash retail payments

Author

Listed:
  • Christiane Dorfmeister

    (Oesterreichische Nationalbank, Equity Interest and Payments Management Division)

Abstract

A common European currency, while being a milestone for the European Union, was just the first step toward integrated euro payments markets. The Single Euro Payments Area (SEPA) was not born until 2014, when the migration of domestic formats and national infrastructures for credit transfers and direct debits to European technical standards and procedures was completed. While these changes have of course come at a cost for the financial industry, SEPA has definitely had an impact on the efficiency and speed of retail payments, but also on the security of transactions as well as on pricing. Some issues remain to be solved, e.g. SEPA for card transactions or IBAN discrimination. Nevertheless, SEPA migration has been a success – and, in turn, a stepping stone to further innovations, like instant payments.

Suggested Citation

  • Christiane Dorfmeister, 2019. "The euro’s effects on noncash retail payments," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), issue 19/Q1-Q2, pages 113-123.
    • Handle: RePEc:onb:oenbmp:y:2019:i:19/q1-q2:b:7
    as

    Download full text from publisher

    File URL: https://www.oenb.at/dam/jcr:8743c128-0974-4670-ba9b-6a6cdd1008ff/10_dorfmeister_mop_Q1_Q2_19.pdf
    Download Restriction: no
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:onb:oenbmp:y:2019:i:19/q1-q2:b:7. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Rita Glaser-Schwarz (email available below). General contact details of provider: https://edirc.repec.org/data/oenbbat.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.