منابع مشابه
Noncash payment methods in a cashless economy
Several non-cash record-keeping systems are formulated in a randommatching model. The crucial informational friction is that a seller’s endowment, which may be a random variable, and the transfer of goods to a buyer can only be observed by the traders in a pairwise meeting. With this friction monitoring of the payment is distinguished from monitoring of the complete transaction. For each implem...
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The recent explosion in the popularity of the Internet has been accompanied by considerable interest in using this worldwide collection of interconnected computers as a medium for commerce. While electronic commerce in general is not itself a novel concept, the dizzying pace of change in the computer networking landscape of late promises to bring with it exciting new ways for individuals and co...
متن کاملInterchange Fees and Ine¢ ciencies in the Substitution between Payment Cards and Cash
This article explains why the collective determination of interchange fees in payment platforms and in ATM networks can lead to ine¢ ciencies in the substitution between payment cards and cash. If the issuers are ATM owners, I show that the pro t maximising interchange fees reect the trade-o¤ that banks make between the pro ts on foreign withdrawals and the possibility to save the costs of cas...
متن کاملStandardizing Retail Payment Instruments
The business of payments and the provision of payment instruments have a rich history, which can be drawn upon in a discussion of standardization. In the middle-ages, for example, the mere existence of a wide variety of foreign and local coins led to a flourishing business of money exchange offices and cashiers in the Netherlands. Malpractices of some of these firms, mostly in the form of physi...
متن کاملThe Demand for Stored Value Payment Instruments
Due to their functionality, stored value purses based on smart card technology are prominent candidates for being the dominant medium of exchange for micropayments. However, the overall prospects of these payment systems are yet ambiguous, both from the perspective of practice and monetary theory, because their potential to substitute for cash is still largely unknown. As a contribution to the ...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2002
ISSN: 1556-5068
DOI: 10.2139/ssrn.312965