Promoting efficient retail payments in Europe

Iftekhar Hasan, Emmi Martikainen and Tuomas Takalo

No 20/2014, Bank of Finland Research Discussion Papers from Bank of Finland

Abstract: In this article we first document the evidence showing how an efficient retail payment infrastructure enhances economic performance. We then review the policy tools available to promote efficient retail payments in Europe. We argue that while SEPA is an important policy initiative that harmonizes payment methods across the EU, it alone is not enough. Vigorous competition and consumer protection policies as well as direct interventions discouraging large value cash payments would be particularly attractive policy tools as they would put no strain on stretched government budgets.

Keywords: Retail payment; SEPA; competition; consumer protection; economic performance (search for similar items in EconPapers)
JEL-codes: G21 G28 (search for similar items in EconPapers)
Date: 2014
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Journal Article: Promoting efficient retail payments in Europe (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:bofrdp:rdp2014_020

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