THE DEVELOPMENT OF PAYMENT SERVICES AS AN EXAMPLE OF DISINTERMEDIATION IN THE FINANCIAL SYSTEM

Agnieszka Aliñska and Izabela Czepirska
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Agnieszka Aliñska: Department of Treasury, Collegium of Socio-Economics, Warsaw School of Economics
Izabela Czepirska: Department of Treasury, Collegium of Socio-Economics, Warsaw School of Economics

"e-Finanse", 2016, vol. 12, issue 2, 60-73

Abstract: The reasons for disintermediation in the fi nancial systems can be found on both sides of supply and demand. This progressing phenomenon is a result of numerous changes in the post-crisis fi nancial sector landscape. In this article, the authors analyse the underlying causes of the shitaway from formal fi nancial institutions in the area of fi nancial services as well as present the Polish payment services market as an example of banks’ receding role in the traditional intermediation between market players.

Keywords: banks; disintermediation; PSD; payment services; deregulation (search for similar items in EconPapers)
JEL-codes: G1 G2 G3 (search for similar items in EconPapers)
Date: 2016
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