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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 EBOOK →This 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 EBOOK →Este 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 EBOOK →In 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 EBOOK →Innovation, Deregulation, and the Life Cycle of a Financial Service Industry
Author: Fumiko Hayashi
Publisher: International Monetary Fund
Published: 2015-08-18
Total Pages: 42
ISBN-13: 1513537733
DOWNLOAD EBOOK →This paper examines innovation, deregulation, and firm dynamics over the life cycle of the U.S. ATM and debit card industry. In doing so, we construct a dynamic equilibrium model to study how a major product innovation (introducing the new debit card function) interacted with banking deregulation drove the industry shakeout. Calibrating the model to a novel dataset on ATM network entry, exit, size, and product offerings shows that our theory fits the quantitative pattern of the industry well. The model also allows us to conduct counterfactual analyses to evaluate the respective roles that innovation and deregulation played in the industry evolution.
Cash and Dash
Author: Bernardo Bátiz-Lazo
Publisher: Oxford University Press
Published: 2018-06-18
Total Pages: 272
ISBN-13: 019108557X
DOWNLOAD EBOOK →Cash 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 EBOOK →Discusses 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.
Prices of Paper
Author: William Armitage Averill
Publisher:
Published: 1919
Total Pages: 32
ISBN-13:
DOWNLOAD EBOOK →The Federal Reserve System Purposes and Functions
Author: Board of Governors of the Federal Reserve System
Publisher:
Published: 2002
Total Pages: 0
ISBN-13: 9780894991967
DOWNLOAD EBOOK →Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.
