Promoting efficient retail payments in Europe

Iftekhar Hasan, Emmi Martikainen and Tuomas Takalo

Journal of Payments Strategy & Systems, 2015, vol. 8, issue 4, 395-406

Abstract: This paper first documents the evidence showing how an efficient retail payment infrastructure enhances economic performance. It then reviews the policy tools available to promote efficient retail payments in Europe. The authors argue that, while SEPA is an important policy initiative that harmonises 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: paperless payments; macroeconomy; credit ratings; European Central Bank; eurozone (search for similar items in EconPapers)
JEL-codes: E5 G2 (search for similar items in EconPapers)
Date: 2015
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Working Paper: Promoting efficient retail payments in Europe (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:aza:jpss00:y:2015:v:8:i:4:p:395-406

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