Trust and Agency Redistribution in CajaVecina's Payment Ecosystem

Bernardo Batiz-Lazo, Jose Alarcon-Molina and Juan Felipe Espinosa-Cristia ()
Additional contact information
Jose Alarcon-Molina: Ministry of Health, Chile
Juan Felipe Espinosa-Cristia: Andrés Bello University

No 19015, Working Papers from Bangor Business School, Prifysgol Bangor University (Cymru / Wales)

Abstract: The present study situates itself within the frame of domestic finances and technologies of the everyday. CajaVecina is defined as a correspondent banking system, managed by BancoEstado (Chile), and brings banking operations to groups of people who have been recently brought into the banking system and receive financial services at various points of sale (POS). Using a qualitative methodology based on structured interviews with managers, intermediaries, and merchants, we observe that the phenomenon of a bank's agency redistribution and the so-called correspondent banking is fundamentally based on what is known as operating quotas, from which BancoEstado diversifies risk and learns from the banking behaviors of stores. Nonetheless, it is information itself what allows a store to transform into a different kind of solution, independent of the bank, taking advantage of the levels of trust nurtured with its clients. This is how this system of payments and financial operations gets redistributed, with the result that the intermediary/correspondent assumes a dominion on its scope and operations and thus completely reformulates the so-called "payment space" for the bank, users, and intermediaries.

Keywords: correspondent banking; agency redistribution; payment space; special monies; classifications (search for similar items in EconPapers)
Date: 2019-07
New Economics Papers: this item is included in nep-ban and nep-pay
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.bangor.ac.uk/business/research/documents/BBSWP-19-15.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bng:wpaper:19015

Access Statistics for this paper

More papers in Working Papers from Bangor Business School, Prifysgol Bangor University (Cymru / Wales) Contact information at EDIRC.
Bibliographic data for series maintained by Alan Thomas ( this e-mail address is bad, please contact ).