Competition in bank-provided payment services

Wilko Bolt () and David B. Humphrey

No 13-17, Working Papers from Federal Reserve Bank of Philadelphia

Abstract: Banks supply payment services that underpin the smooth operation of the economy. To ensure an efficient payment system, it is important to maintain competition among payment service providers, but data available to gauge the degree of competition are quite limited. We propose and implement a frontier- based method to assess relative competition in bank-provided payment services. Billion dollar banks account for around 90 percent of assets in the U.S., and those with around $4 to $7 billion in assets turn out to be both the most and the least competitive in payment services, not the very largest banks.

Keywords: Payment systems; Competition; Banks and banking (search for similar items in EconPapers)
Date: 2013
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Working Paper: Competition in bank-provided payment services (2013)
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