Retail Payment Systems: Competition, Innovation, and Implications

27 Pages Posted: 22 Dec 2012

See all articles by Wilko Bolt

Wilko Bolt

De Nederlandsche Bank (Dutch Central Bank); VU University Amsterdam

Date Written: December 20, 2012


Efficient payment services underpin the smooth operation of the economy. Competition and innovation are key drivers for payment market efficiency in both the short and long run. This paper gives an overview and tries to assess the key determinants that affect pricing, competition and the incentives to innovate in the payment market. While the payment landscape is changing rapidly, it is not yet clear what business model will survive.

Keywords: Payments, pricing, competition, innovation

JEL Classification: L11, G21, C21

Suggested Citation

Bolt, Wilko, Retail Payment Systems: Competition, Innovation, and Implications (December 20, 2012). De Nederlandsche Bank Working Paper No. 362. Available at SSRN: or

Wilko Bolt (Contact Author)

De Nederlandsche Bank (Dutch Central Bank) ( email )

P.O. Box 98
1000 AB Amsterdam

VU University Amsterdam ( email )

De Boelelaan 1105
Amsterdam, ND North Holland 1081 HV

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