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European retail payments market integration and fintech: a case study approach

Katharina Allinger ()

Financial Stability Report, 2018, issue 36, 25-39

Abstract: The segment of retail payments has been among the most affected by technology-enabled innovations in financial markets (fintech). This study looks at the digitalization of retail payments markets in Europe. We develop a framework and collect supportive indicators to discuss the connection between fintech and retail payments market developments. We apply our framework to four small European economies – Sweden, Austria, Estonia and Bulgaria – and discuss what conclusions, if any, can be drawn for the integration of European retail payments markets and fintech from the developments observed in the case study countries. While there are many channels through which digitalization may facilitate the creation of a single market for retail payments, this study discusses whether fintech might also contribute to stronger retail payments market fragmentation.

Keywords: payment systems; financial intermediaries; financial regulation; structural change; technological change (search for similar items in EconPapers)
JEL-codes: E42 G21 G18 L16 O33 (search for similar items in EconPapers)
Date: 2018
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