The Effect of the ATM and the POS in the Demand for Money in Europe

Susana da Silva Brito and Fátima Sol Murta
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Susana da Silva Brito: Faculdade de Economia da Universidade de Coimbra

Chapter 3 in European Integration Process in Western Balkan Countries, 2012, vol. 1, pp 54-71 from Institute of Economic Sciences

Abstract: The Single Euro Payments Area (SEPA) initiative aims to establish a single market for retail payments in euro, for which major progress has been made. Understanding the effects of financial innovation and new payment media on the demand for money is very important in this context. The aim of this work is to study the effect of the use of the Automated Teller Machines (ATM) and the Points of Sale (POS) in the demand for money in the European Union, in particular in the demand deposits, using panel data estimation. Our main conclusion indicates that the use of payments technology has a positive effect over the demand for overnight deposits.

Keywords: banks, ATM, POS, demand for money; financial technology (search for similar items in EconPapers)
JEL-codes: E41 E44 O3 (search for similar items in EconPapers)
Date: 2012
ISBN: 978-972-9344-05-3
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