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Interchange Fees as a Mechanism to Raise Rivals' Costs - Some Evidence from Switzerland
Rutz, Samuel - In: Swiss Journal of Economics and Statistics (SJES) 146 (2010) II, pp. 507-532
In 2004 the Swiss Competition Commission (ComCo) opened an investigation concerning multilateral agreed interchange fees in the Swiss credit card market which ended with an amicable settlement. The most important element of this amicable settlement consists in the limitation of the interchange...
Persistent link: https://www.econbiz.de/10008465555
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Externalities and Regulation in Card Payment Systems
Rochet, Jean-Charles; Tirole, Jean - In: Review of Network Economics 5 (2006) 1, pp. 1-14
The paper offers a roadmap to the current economic thinking concerning interchange fees. After describing the fundamental externalities inherent in payment systems and analysing merchant resistance to interchange fee increases and the associations' determination of this fee, it derives the...
Persistent link: https://www.econbiz.de/10005785079
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Fraud, investments and liability regimes in payment platforms
Creti, Anna; Verdier, Marianne - In: International Journal of Industrial Organization 35 (2014) C, pp. 84-93
In this paper, we discuss how fraud losses impact the price structure chosen by a monopolistic payment platform, if merchants can invest in fraud detection technologies. We show that liability rules bias the structure of the prices charged by the platform to consumers and merchants with respect...
Persistent link: https://www.econbiz.de/10010906757
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Interchange fees in card payments
Börestam, Ann; Schmiedel, Heiko - European Central Bank - 2011
The present paper explores issues surrounding multilateral interchange fees (MIFs) in payment card markets from various angles. The Eurosystem’s public stance on interchange fees is neutral. However, the Eurosystem takes a keen interest in facilitating a constructive dialogue among the...
Persistent link: https://www.econbiz.de/10009327808
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Fraud, Investments and Liability Regimes in Payment Platforms
Creti, Anna; Verdier, Marianne - EconomiX, Université Paris Ouest-Nanterre la Défense … - 2011
In this paper, we discuss how fraud liability regimes impact the price structure that is chosen by a monopolistic payment platform, in a setting where merchants can invest in fraud detection technologies. We show that liability allocation rules distort the price structure charged by platforms or...
Persistent link: https://www.econbiz.de/10009358642
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Fraud, investments and liability regimes in payment platforms
Creti, Anna; Verdier, Marianne - European Central Bank - 2011
In this paper, we discuss how fraud liability regimes impact the price structure that is chosen by a monopolistic payment platform, in a setting where merchants can invest in fraud detection technologies. We show that liability allocation rules distort the price structure charged by platforms or...
Persistent link: https://www.econbiz.de/10009367478
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Payment Card Systems as an Example of two-sided Markets - a Challenge for Antitrust Authorities
Tosza, Katarzyna - Volkswirtschaftliche Fakultät, … - 2009
attracted the attention of regulatory and antitrust authorities in recent years. First, the paper offers a few insights into the … features. The following analysis focuses on arguments that speak in favour of a regulatory or antitrust intervention into … payment card systems. Finally, some of the potential problems that antitrust authorities must face when assessing two …
Persistent link: https://www.econbiz.de/10008599142
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Perfect surcharging and the tourist test interchange fee
Zenger, Hans - Volkswirtschaftliche Fakultät, … - 2010
Two widely discussed pricing benchmarks in the literature on payment cards markets are the "tourist test" interchange fee (Rochet and Tirole, 2010), which internalizes usage externalities in payment card markets, and "perfect surcharging" by merchants (Rochet and Tirole, 2002). This paper shows...
Persistent link: https://www.econbiz.de/10008743005
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The Pricing of Payments
Krueger, Malte - Volkswirtschaftliche Fakultät, … - 2009
The pricing of payments has received increasing attention of regulators. In many cases, regulators are concerned that consumers do not face cost based prices. They argue that without cost based prices consumers will make inefficient choices. In this paper, it is argued that both, economics of...
Persistent link: https://www.econbiz.de/10008534548
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Interchange fees in card payments
Börestam, Ann; Schmiedel, Heiko - European Central Bank - 2011
The present paper explores issues surrounding multilateral interchange fees (MIFs) in payment card markets from various angles. The Eurosystem’s public stance on interchange fees is neutral. However, the Eurosystem takes a keen interest in facilitating a constructive dialogue among the...
Persistent link: https://www.econbiz.de/10010688336