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Account-to-Account Electronic Money Transfers: Recent Developments in the United States

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  • Shy Oz

    (Federal Reserve Bank of Boston)

Abstract

This paper reviews recent developments in online and mobile banking in the United States that provide bank account holders with low-cost interfaces to manage account-to-account electronic money transfers. The paper analyzes the emerging decentralized market in which A2A money transfers are becoming available in the United States and compares it to the A2A market in other countries. The paper constructs analytical examples to explain and evaluate the structure of the emerging U.S. market and discusses possible policy actions that may enhance the use of A2A money transfers in the United States.

Suggested Citation

  • Shy Oz, 2012. "Account-to-Account Electronic Money Transfers: Recent Developments in the United States," Review of Network Economics, De Gruyter, vol. 11(1), pages 1-25, March.
    • Handle: RePEc:bpj:rneart:v:11:y:2012:i:1:n:3
    DOI: 10.1515/1446-9022.1297
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    References listed on IDEAS

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    1. Gautam Gowrisankaran & Joanna Stavins, 2004. "Network Externalities and Technology Adoption: Lessons from Electronic Payments," RAND Journal of Economics, The RAND Corporation, vol. 35(2), pages 260-276, Summer.
    2. Shy,Oz, 2001. "The Economics of Network Industries," Cambridge Books, Cambridge University Press, number 9780521805001, January.
    3. Oz Shy, 2010. "Person-to-person electronic funds transfers: recent developments and policy issues," Public Policy Discussion Paper 10-1, Federal Reserve Bank of Boston.
    4. Schuh, Scott & Stavins, Joanna, 2010. "Why are (some) consumers (finally) writing fewer checks? The role of payment characteristics," Journal of Banking & Finance, Elsevier, vol. 34(8), pages 1745-1758, August.
    5. Kevin Foster & Erik Meijer & Scott Schuh & Mike Zabek, 2010. "The 2008 Survey of Consumer Payment Choice," Public Policy Discussion Paper 09-10, Federal Reserve Bank of Boston.
    6. Scott Schuh & Oz Shy & Joanna Stavins & Robert K. Triest, 2011. "An economic analysis of the 2010 proposed settlement between the Department of Justice and credit card networks," Public Policy Discussion Paper 11-4, Federal Reserve Bank of Boston.
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    Cited by:

    1. repec:bof:bofrdp:urn:nbn:fi:bof-201511261452 is not listed on IDEAS
    2. Mariotto, Carlotta & Verdier, Marianne, 2015. "Innovation and competition in Internet and mobile banking: an industrial organization perspective," Bank of Finland Research Discussion Papers 23/2015, Bank of Finland.
    3. Claire Greene & Marc Rysman & Scott Schuh & Oz Shy, 2014. "Costs and benefits of building faster payment systems: the U.K. experience and implications for the United States," Current Policy Perspectives 14-5, Federal Reserve Bank of Boston.
    4. repec:zbw:bofrdp:urn:nbn:fi:bof-201511261452 is not listed on IDEAS
    5. repec:zbw:bofrdp:2015_023 is not listed on IDEAS
    6. Mariotto, Carlotta & Verdier, Marianne, 2015. "Innovation and competition in Internet and mobile banking: an industrial organization perspective," Research Discussion Papers 23/2015, Bank of Finland.

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