What Does it Cost to Make a Payment?

Humphrey David (), Magnus Willesson, Lindblom Ted and Bergendahl Göran
Additional contact information
Humphrey David: Florida State University
Lindblom Ted: University of Gothenburg
Bergendahl Göran: University of Gothenburg

Review of Network Economics, 2003, vol. 2, issue 2, 16

Abstract: We survey the limited data that exists concerning the cost of making/receiving a payment by banks, retailers, and other parties to a transaction. Since an electronic payment costs between one-third and onehalf that of a paper-based instrument, a country may save 1% of its GDP annually as it shifts from a fully paper-based to a fully electronic-based payment system. Some gains have already been realized. Additional analysis indicates that bank costs of making a payment may have fallen by 45% in Europe as the share of electronic transactions in 12 countries rose from .43 to .79 over 1987-1999.

Date: 2003
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DOI: 10.2202/1446-9022.1024

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