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Interchange fee regulation and service investments
International Journal of Industrial Organization, 2019Abstract This paper analyzes the impact of interchange fee regulation on the investment incentives of a payment card platform in the presence of full merchant internalization. We distinguish between investment in consumer and retailer services. We find that the optimally regulated interchange fee can be above the privately optimal one to induce the ...
Markus Reisinger, Hans Zenger
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Payment Systems and Interchange Fees [PDF]
Journal of Industrial Economics, 2002 In a typical bank credit card transaction, the merchant’s bank pays an interchange fee, collectively determined by all participating banks, to the cardholder’s bank. This paper shows how the interchange fee balances charges between cardholders and merchants under imperfect competition.
Richard Schmalensee
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A Genuine Commercial Justification for Interchange Fees
SSRN Electronic Journal, 2018Ronald Coase famously argued that “if an economist finds something – a business practice of one sort or other – that he does not understand, he looks for a monopoly explanation”. So it is with credit card interchange fees. Intellectual confusion has led to the phenomenon of interchange fees being misdiagnosed as being a monopoly problem leading to ...
Chris Berg +2 more
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Differentiated interchange fees
Economics Letters, 2012Abstract Payment networks typically differentiate interchange fees across different merchant sectors. This paper shows that it is generally efficient for a regulator to leave the decision on the structure of interchange fees to payment networks.
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Interchange fees for bank ATM networks
Naval Research Logistics, 1998Summary: Banks have found it advantageous to connect their Automated Teller Machines (ATMs) in networks so that customers of one bank may use the ATMs of any bank in the network. When this occurs, an interchange fee is paid by the customer's bank to the one that owns the ATM. These have been set by historic interbank negotiation. The paper investigates
Gow, S. H., Thomas, L. C.
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Interchange Fee Reforms in Various Countries
2018Gorka provides a global outlook on public authorities’ involvement in interchange fees and card payments in France, EU (competition cases), Mexico, Canada, Israel, India and China. Then, three country cases—Australia, USA and Spain—are studied in detail according to the framework from the previous chapter. Next, all of them are compared. Gorka assesses
Jakub Gorka
exaly +2 more sources
Regulating Interchange Fees in Payment Systems
SSRN Electronic Journal, 2001This paper provides a simple model of ‘four party’ payment systems designed to consider recent moves to regulate interchange fees and other rules of credit card associations. In contrast to recent formal analyses emphasising the role of network effects in the decisions of customer and merchants to use credit cards, we provide a model without such ...
Joshua S. Gans, Stephen P. King
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Interchange Fees and Innovation in Payment Systems
SSRN Electronic Journal, 2013We analyze the impact of interchange fees on consumers’ and merchants’ incentives to adopt an innovative payment instrument, in a setting with adoption externalities between consumers and merchants. We show that consumer adoption decreases with the interchange fee for high degrees of externality, and varies non-monotonically with it for low degrees of ...
Bourreau, Marc, Verdier, Marianne
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The Neutrality of Interchange Fees in Payment Systems
Topics in Economic Analysis & Policy, 2001Abstract There has been considerable public debate over the effect of interchange fees on credit card transactions. Regulators in Australia and Europe have argued that these fees can be set by banks to have an anticompetitive effect. In the US, it has been argued that these fees, together with a rule that prevents a surcharge for credit purchases ...
Joshua S. Gans, Stephen P. King
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