Digitization of Retail Payment
De Nederlandsche Bank (Dutch Central Bank)
The Clearing House
December 1, 2010
De Nederlandsche Bank Working Paper No. 270
The rapid proliferation of electronic payment media continues to change the way consumers shop and merchants sell goods and services. Many policymakers and economists agree that the digitization of payments is socially beneficial. However, there is considerable debate regarding the optimal pricing of these payment services. Payment markets are complex with many participants engaging in a series of interrelated bilateral relations and transactions. In this article, we survey the recent payment literature, identify the main economic bottlenecks, and study their implications for public policy.
Number of Pages in PDF File: 46
Keywords: retail financial services, electronic payments, pricing, public policy
JEL Classification: L11, G21, D53working papers series
Date posted: October 27, 2011
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