Governance and Innovation in UK Retail Payments
Communications & Strategies, No. 66, p. 63, 2007
15 Pages Posted: 16 Oct 2007 Last revised: 1 Mar 2015
This paper discusses recent developments in the governance and innovation of UK retail payments. It is a follow up to an earlier paper (Ganguly and Milne (2002b)) an interview study with senior payments management in eight UK banks. That study identified concerns about governance and weak incentives for innovation as major issues for the operation of retail payments systems in the UK. The present paper reviews the subsequent experience in the UK and draws lessons for payments innovation and governance across the European Union.
Keywords: bank payment services, financial infrastructure, payment schemes, payments governance, SEPA, technology adoption
JEL Classification: G2, E6
Suggested Citation: Suggested Citation