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Promoting efficient retail payments in Europe

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  • Hasan, Iftekhar
  • Martikainen, Emmi
  • Takalo, Tuomas

Abstract

This paper first documents the evidence showing how an efficient retail payment infrastructure enhances economic performance. It then reviews the policy tools available to promote efficient retail payments in Europe. The authors argue that, while SEPA is an important policy initiative that harmonises payment methods across the EU, it alone is not enough. Vigorous competition and consumer protection policies as well as direct interventions discouraging large-value cash payments would be particularly attractive policy tools, as they would put no strain on stretched government budgets.

Suggested Citation

  • Hasan, Iftekhar & Martikainen, Emmi & Takalo, Tuomas, 2015. "Promoting efficient retail payments in Europe," Journal of Payments Strategy & Systems, Henry Stewart Publications, vol. 8(4), pages 395-406, January.
    • Handle: RePEc:aza:jpss00:y:2015:v:8:i:4:p:395-406
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    More about this item

    Keywords

    paperless payments; macroeconomy; credit ratings; European Central Bank; eurozone;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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