Externalities and Regulation in Card Payment Systems
نویسندگان
چکیده
منابع مشابه
Externalities in Payment Card Networks: Theory and Evidence
The proliferation of payment cards has dramatically changed the ways we shop and merchants sell goods and services. Today, payment cards are indispensable in most advanced economies. Amromin and Chakravorti (2009) find that greater usage of debit cards has resulted in lower demand for small-denomination bank notes and coins that are used to make change in 13 advanced economies. Recent payment s...
متن کاملExternalities in Payment Card Networks: Theory and Evidence Commentary
Antitrust and regulatory issues associated with payment systems continue to occupy legal and regulatory authorities not only in the United States but throughout the world. I comment on some of those issues and expand on some of the themes that Bob raised in his excellent paper (Chakravorti, 2009). Bob’s paper provides a clear analysis of the many complicated economic forces at work in payment s...
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This paper presents a model of a card payment system to address the pricing and rules that govern such systems. It evaluates the social optimality of privately set interchange fees and the adoption of a rule by payment systems to prevent merchants surcharging for card transactions using two extremes of merchant pricing—monopolistic pricing and perfect competition. Both types of merchant pricing...
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To provide card holder authentication while they are conducting an electronic transaction using mobile devices, VISA and MasterCard independently proposed two electronic payment protocols: Visa 3D Secure and MasterCard Secure Code. The protocols use pre-registered passwords to provide card holder authentication and Secure Socket Layer/ Transport Layer Security (SSL/TLS) for data confidentiality...
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In this paper, a system for controlling transaction flow in card-based payment systems and its performance benefit using mobile agents is presented. The model consists of the negotiation semantics, the mobile agent module, and three interactive systems in e-payment: the bank, point-of-sale (POS), and the Interswitch. We present a mobile agent-based scenario for e-payment system and discuss the ...
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ژورنال
عنوان ژورنال: Review of Network Economics
سال: 2006
ISSN: 1446-9022,2194-5993
DOI: 10.2202/1446-9022.1085