We develop a theoretical framework aimed to model the pricing of electronic money (electronic cash cards) and the market domain in which it will be used.We first calculate the fee structures of electronic cash- and charge-card industries for the monopoly and competitive cases.We show that the...

The operating speed of a payment system depends on the stage of technology of the system's communication and information processing environment.Frequent intraday processing cycles and real-time processing have introduced new means of speeding up the processing and settlement of payments.In a...

Payment systems are undergoing rapid changes stimulated largely by technological progress.Distributed network technology, real-time processing and customers' willingness to use electronic banking interfaces will further reshape payment systems during the coming years.Internet and e-commerce will...

The consequences of electronic trading, payment and settlement have recently become one of the main topics in monetary economics.New innovations in payment and settlement technology are challenging the central bank's monopoly over the supply of base money, which is generally considered the...

Central bank spending on the operation of inter-bank funds transfer systems may range from below one million to nearly a billion US dollars annually.This paper examines how such costs are incurred and recovered to pursue payment systems efficiency in different countries and under alternative...

In this study, the interaction between the competition-cooperation nexus and regulation in retail payment systems is analysed by applying the main lessons from the theory of network industries. This is justifiable on the grounds that the payment systems industry inherently has many...

The simulation technique provides a new means for analysing complex interdependencies in payment and securities settlement processing. The Bank of Finland has developed a payment and settlement system simulator (BoF-PSS2) that can be used for constructing simulation models of payment and...

The present European large-value payment systems are on the verge of notable changes.Since they comprise the backbone or basic infrastructure of the whole economy, it is important that the changes are monitored and carried out in a very prudent manner. This paper attempts to analyse this change...