Save 40% on Law, Psychology & Criminology print and eBooks! Shop the selection >>

Interchange Fee Economics

To Regulate or Not to Regulate?

Authors: Górka, Jakub

Free Preview
  • Extends the global outlook on public authorities’ involvement in card payments and includes cases from France, the EU, Mexico, Canada, Israel, India, and China
  • Provides valuable insight into the problem of interchange fee economics and its regulationPuts the issues of interchange fees in the wider context of the entire payment system (i.e. innovation and competition, FinTech, novel methods of payments such as digital wallets, bitcoin, real-time payments, etc.) Includes references to the industry practice and examples from payment markets
Show all benefits

Buy this book

eBook $84.99
price for USA (gross)
  • ISBN 978-3-030-03041-4
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $109.99
price for USA
  • ISBN 978-3-030-03040-7
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
About this book

Interchange fees have been the focal point for debate in the card industry, among competition authorities and policy makers, as well as in the economic literature on two-sided markets and on the regulation of market failures. This book offers insight into the economics of interchange fees. First, it explains the nature of two-sided markets/platforms/networks and elaborates on four-party schemes and on the rationale behind interchange fees according to Baxter’s model and its later refinements. It also includes the debate about the optimum level of interchange fees and its determination (“tourist test”),  and presents the original framework for assessing the impact of interchange fee regulatory reductions for the market participants: consumers, merchants, acquirers, issuers, and card organisations. The framework addresses three areas of concern in reference to the transmission channels of interchange fee reductions (pass-through) and the card scheme domain (triangle: payment organisation, issuer, acquirer). The book discusses the effects of regulatory interchange fee reductions in Australia, USA, Spain, and, most specifically, Poland.  It will be of interest to policy makers, card and payments industry practitioners, academics, and students.

About the authors

Jakub Górka holds a PhD in economics and is Assistant Professor at the Faculty of Management, University of Warsaw, Poland. He is a member of the Payment Systems Market Expert Group (PSMEG), assisting the European Commission to prepare legislative acts or policy initiatives on payment issues, and an advisor to the President of Social Insurance Institution (ZUS) in Poland on FinTech. He is an author and editor of numerous research papers and books, including Transforming Payment Systems in Europe. He has provided expert advice for the National Bank of Poland, the Polish Ministry of Finance, and companies within the payments industry. He also founded the Payments Drift Forum. In the years 2016–17 he was leading the stream “e-Taxes” in the Polish government programme “Cashless, Paperless”. He has been distinguished with several awards, including an award from the Polish Prime Minister.

Reviews

“Jakub Górka provides us with something invaluable, a comparative analysis of the effects of interchange fee regulations in various countries. Given the ongoing controversial debate about multilateral interchange fees and the coming review of the EU interchange fee regulation, this book is a must-read for regulators, academics and market participants. Górka covers some of the better known cases, Australia, the U.S., Spain and the EU. On top of this, there is an in-depth analysis of the regulatory measures introduced in Poland. While Górka is critical of some of the measures that have been introduced, he comes out with a generally favourable view of current regulations. His judgement is based on profound knowledge of theory as well as the institutional setting of the payment card market.” (Malte Krueger, Professor of Economics, University of Applied Sciences Aschaffenburg, Germany) 

Table of contents (4 chapters)

Table of contents (4 chapters)

Buy this book

eBook $84.99
price for USA (gross)
  • ISBN 978-3-030-03041-4
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $109.99
price for USA
  • ISBN 978-3-030-03040-7
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Loading...

Bibliographic Information

Bibliographic Information
Book Title
Interchange Fee Economics
Book Subtitle
To Regulate or Not to Regulate?
Authors
Copyright
2018
Publisher
Palgrave Macmillan
Copyright Holder
The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG, part of Springer Nature
eBook ISBN
978-3-030-03041-4
DOI
10.1007/978-3-030-03041-4
Hardcover ISBN
978-3-030-03040-7
Edition Number
1
Number of Pages
XVIII, 181
Number of Illustrations
29 b/w illustrations, 3 illustrations in colour
Topics