The Economics of Credit Cards, Debit Cards and ATMs
Author:
Publisher: Fundacion BBVA
Published:
Total Pages: 52
ISBN-13:
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The Economics of Credit Cards, Debit Cards and Atms
Author: Barry Scholnick
Publisher:
Published: 2013
Total Pages: 36
ISBN-13:
DOWNLOAD EBOOKThis paper provides a critical survey of the large and diffuse literature on credit cards, debit cards and ATMs. We argue that because there are still many outstanding issues and questions about the pricing, use and substitutability of these payment mechanisms, that there are significant further opportunities for research in these areas. A large number of questions are examined in this survey, including the pricing of credit cards, the impact of networks on the provision and pricing of ATMs, as well as the tradeoffs that consumers make between different types of payment mechanism, including debit cards, credit cards and ATMs. Importantly, this paper is also amongst the first to provide new evidence on this latter question from bank level data (from Spain). We conclude that point of sale (debit card) and ATM transactions are substitutes, and that ATM surcharges impacts point of sale volume significantly.
The Economics of Credit Cards, Debit Cards and ATMs
Author: Santiago Carbó Valverde
Publisher:
Published: 2007
Total Pages: 43
ISBN-13:
DOWNLOAD EBOOKEste documento de trabajo ofrece una revisión crítica de la amplia y difusa literatura sobre tarjetas de crédito y débito y cajeros automáticos. En el mismo se sostiene que existen aún numerosos campos de investigación, dado que no se han resuelto muchas de las cuestiones planteadas en torno a los precios, el uso o el grado de sustitución de estos medios depago. Un gran número de estas cuestiones son examinadas en esta revisión, incluyendo el establecimiento de los precios en las tarjetas de crédito, el impacto de las redes en la provisión y los precios deuso de los cajeros, y los intercambios a los que los consumidores se enfrentan entre diferentes medios de pago, incluyendo las tarjetas de crédito y débito y los cajeros automáticos. Es oportuno señalar que este estudio es de los primeros en ofrecer evidencia empírica sobre algunas de estas cuestiones, empleando datos a escala bancaria para España. Entre otros resultados, se observa que el uso de tarjetas de débito en puntos de venta y las transacciones en cajerosa utomáticos presentan un grado significativo de sustitución,y que las comisiones por el uso de cajeros tienen un impacto significativo sobre el volumen de transacciones en puntos de venta.
Plastic Money
Author: Alya Guseva
Publisher: Stanford University Press
Published: 2014-02-26
Total Pages: 341
ISBN-13: 0804789592
DOWNLOAD EBOOKIn the United States, we now take our ability to pay with plastic for granted. In other parts of the world, however, the establishment of a "credit-card economy" has not been easy. In countries without a history of economic stability, how can banks decide who should be given a credit card? How do markets convince people to use cards, make their transactions visible to authorities, assume the potential risk of fraud, and pay to use their own money? Why should merchants agree to pay extra if customers use cards instead of cash? In Plastic Money, Akos Rona-Tas and Alya Guseva tell the story of how banks overcame these and other quandaries as they constructed markets for credit cards in eight postcommunist countries. We know how markets work once they are built, but this book develops a unique framework for understanding how markets are engineered from the ground up—by selecting key players, ensuring cooperation, and providing conditions for the valuation of a product. Drawing on extensive interviews and fieldwork, the authors chronicle how banks overcame these hurdles and generated a desire for their new product in the midst of a transition from communism to capitalism.
The Economics of Bank Credit Cards
Author: Thomas Russell
Publisher: Greenwood
Published: 1975
Total Pages: 166
ISBN-13:
DOWNLOAD EBOOKCash and Dash
Author: Bernardo Bátiz-Lazo
Publisher: Oxford University Press
Published: 2018-06-18
Total Pages: 348
ISBN-13: 019108557X
DOWNLOAD EBOOKCash and Dash: How ATMs and Computers Changed Banking uses the invention and development of the automated teller machine (ATM) to explain the birth and evolution of digital banking, from the 1960s to present day. It tackles head on the drivers of long-term innovation in retail banking with emphasis on the payment system. Using a novel approach to better understanding the industrial organization of financial markets, Cash and Dash contributes to a broader discussion around innovation and labour-saving devices. It explores attitudes to the patent system, formation of standards, organizational politics, the interaction between regulation and strategy, trust and domestication, maintenance versus disruption, and the huge undertakings needed to develop online real-time banking to customers.
Technological Change, Financial Innovation, and Diffusion in Banking
Author: W. Scott Frame
Publisher: DIANE Publishing
Published: 2010-08
Total Pages: 33
ISBN-13: 1437928730
DOWNLOAD EBOOKDiscusses the technological change and financial innovation that commercial banking has experienced during the past 25 years. Describes the role of the financial system in economies and how technological change and financial innovation can improve social welfare. Surveys the literature relating to several specific financial innovations, which are new products or services, production processes, or organizational forms. The past quarter century has been a period of substantial change in terms of banking products, services, and production technologies. Moreover, while much effort has been devoted to understanding the characteristics of users and adopters of financial innovations, we still know little about how and why financial innovations are initially developed.
A Tea Reader
Author: Katrina Avila Munichiello
Publisher: Tuttle Publishing
Published: 2017-03-21
Total Pages: 256
ISBN-13: 9780804848992
DOWNLOAD EBOOKA Tea Reader contains a selection of stories that cover the spectrum of life. This anthology shares the ways that tea has changed lives through personal, intimate stories. Read of deep family moments, conquered heartbreak, and peace found in the face of loss. A Tea Reader includes stories from all types of tea people: people brought up in the tea tradition, those newly discovering it, classic writings from long-ago tea lovers and those making tea a career. Together these tales create a new image of a tea drinker. They show that tea is not simply something you drink, but it also provides quiet moments for making important decisions, a catalyst for conversation, and the energy we sometimes need to operate in our lives. The stories found in A Tea Reader cover the spectrum of life, such as the development of new friendships, beginning new careers, taking dream journeys, and essentially sharing the deep moments of life with friends and families. Whether you are a tea lover or not, here you will discover stories that speak to you and inspire you. Sit down, grab a cup, and read on.
Two-Sided Market, R&D and Payments System Evolution
Author: Bin Grace Li
Publisher: International Monetary Fund
Published: 2019-03-18
Total Pages: 48
ISBN-13: 1484399625
DOWNLOAD EBOOKIt takes many years for more efficient electronic payments to be widely used, and the fees that merchants (consumers) pay for using those services are increasing (decreasing) over time. We address these puzzles by studying payments system evolution with a dynamic model in a twosided market setting. We calibrate the model to the U.S. payment card data, and conduct welfare and policy analysis. Our analysis shows that the market power of electronic payment networks plays important roles in explaining the slow adoption and asymmetric price changes, and the welfare impact of regulations may vary significantly through the endogenous R&D channel.
Cash Use Across Countries and the Demand for Central Bank Digital Currency
Author: Mr.Tanai Khiaonarong
Publisher: International Monetary Fund
Published: 2019-03-01
Total Pages: 43
ISBN-13: 1484399609
DOWNLOAD EBOOKThe level and trend in cash use in a country will influence the demand for central bank digital currency (CBDC). While access to digital currency will be more convenient than traveling to an ATM, it only makes CBDC like a bank debit card—not better. Demand for digital currency will thus be weak in countries where cash use is already very low, due to a preference for cash substitutes (cards, electronic money, mobile phone payments). Where cash use is very high, demand should be stronger, due to a lack of cash substitutes. As the demand for CBDC is tied to the current level of cash use, we estimate the level and trend in cash use for 11 countries using four different measures. A tentative forecast of cash use is also made. After showing that declining cash use is largely associated with demographic change, we tie the level of cash use to the likely demand for CBDC in different countries. In this process, we suggest that one measure of cash use is more useful than the others. If cash is important for monetary policy, payment instrument competition, or as an alternative payment instrument in the event of operational problems with privately supplied payment methods, the introduction of CBDC may best be introduced before cash substitutes become so ubiquitous that the viability of CBDC could be in doubt.
