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Competition and regulation in European retail payment systems

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Author Info
Kemppainen, Kari () (Bank of Finland Research)
Abstract

In this study, the interaction between the competition-cooperation nexus and regulation in retail payment systems is analysed by applying the main lessons from the theory of network industries. This is justifiable on the grounds that the payment systems industry inherently has many characteristics in common with network industries. On the other hand, since the provision of payment services also has many special characteristics, the regulatory tools commonly used in many other network industries cannot be applied directly. In general, the main role of payment system regulators is to provide a level playing field for different service providers. To secure dynamic efficiency, the regulators also need to ensure adequate incentives for innovation and investment. In this respect, it is important that they do not take too restrictive an attitude towards cooperation among payment service providers. In addition to general policy analysis, the study also analyses developments in the European retail payment system field and the roles and aims of market participants.

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File URL: http://www.bof.fi/NR/rdonlyres/8B7FFA3B-3CB5-4A47-9AD2-68A34A7C07FC/0/0316.pdf
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Publisher Info
Paper provided by Bank of Finland in its series Research Discussion Papers with number 16/2003.

Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Length: 73 pages
Date of creation: 09 Jun 2003
Date of revision:
Handle: RePEc:hhs:bofrdp:2003_016

Contact details of provider:
Postal: Bank of Finland, P.O. Box 160, FI-00101 Helsinki, Finland
Web page: http://www.bof.fi/en/tutkimus
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Related research
Keywords: competition policy; payment systems; retail payments; network economics;

Other versions of this item:

Find related papers by JEL classification:
D49 - Microeconomics - - Market Structure and Pricing - - - Other
G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
L98 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Government Policy

Cited by:
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  1. Kirsi Ripatti, 2005. "Central counterparty clearing: constructing a framework for evaluation of risks and benefits," Finance 0508021, EconWPA. [Downloadable!]
  2. Can Okay, 2004. "The Drivers of The Recent Payment Systems Reforms Globally," Central Bank Review, Research and Monetary Policy Department, Central Bank of the Republic of Turkey, vol. 4(2), pages 65-107. [Downloadable!]
  3. Kemppainen, Kari, 2008. "Integrating European retail payment systems: some economics of SEPA," Research Discussion Papers 22/2008, Bank of Finland. [Downloadable!]
  4. Kaie Kerem & Vello Vensel, 2005. "Theory and Empirical Evidence of Business Support Networks," Working Papers 129, School of Economics and Business Administration, Tallinn University of Technology. [Downloadable!]
  5. Ripatti, Kirsi, 2004. "Central counterparty clearing: constructing a framework for evaluation of risks and benefits," Research Discussion Papers 30/2004, Bank of Finland. [Downloadable!]
  6. Kemppainen , Kari, 2005. "Assessing effects of price regulation in retail payment systems," Research Discussion Papers 19/2005, Bank of Finland. [Downloadable!]
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