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Transforming Payment Systems in Europe

Part of the Palgrave Macmillan Studies in Banking and Financial Institutions Book Series

Editors: Górka, Jakub

DOI: 10.1057/9781137541215

ISBN: 978-1-349-71251-9

Publisher: Palgrave Macmillan UK - Springer Journals

Mar 1, 2016

LitStream

Chapter 1A Market for Payments — Payment Choice in the 21st Century Digital Economy

Bott, Jürgen; Milkau, Udo

Pages: 1 –27

[One approach to define what a ‘market’ is was given by Michel Callon, who suggested a difference between a market and a marketplace in English language (1998): ‘While the market denotes the abstract mechanism whereby supply and demand confront each other and adjust in search of a compromise, the...
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Chapter 2Europe: The Shift from Cash to Non-Cash Transactions

Harasim, Janina

Pages: 28 –69

[Traditional payment systems were built around cash. Non-cash payment instruments, including payment cards, used most often besides cash in retail payments, occurred quite recently, as it was in 1940–1950s. Innovative payment instruments that may become an alternative for cash have even a shorter...
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Chapter 3Could “Nudges” Steer Us towards a Less-Cash Society?

Van Hove, Leo

Pages: 70 –110

[Every now and then academics write a popularising book on economics that effectively becomes wildly popular. Information Rules by Carl Shapiro and Hal Varian comes to mind, and in 2008 there was Nudge — Improving Decisions about Health, Wealth, and Happiness by Richard Thaler and Cass Sunstein,...
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Chapter 4Cash Holdings in Germany and the Demand for “German” Banknotes: What Role Is There for Cashless Payments?

Bartzsch, Nikolaus; Seitz, Franz

Pages: 111 –148

[Generally speaking, all euro-area national central banks issue euro banknotes. Following the introduction of euro cash at the start of 2002, the cumulated net issuance of euro notes by the Deutsche Bundesbank (“German” euro notes) increased from an initial €73 billion to €508 billion at the end...
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Chapter 5Regulating Interchange Fees for Card Payments

Jonker, Nicole

Pages: 149 –181

[The European retail payments market is fragmented. It used to consist of twenty-eight nationally operating payment markets served by national schemes, which were separated from each other by legal and technical barriers. With the unification of the European retail payments market, most of the...
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Chapter 6IBANs or IPANs? Creating a Level Playing Field between Bank and Non-Bank Payment Service Providers

Górka, Jakub

Pages: 182 –213

[The intention of the European legislative bodies, which is enshrined in different legal acts, such as the Payment Services Directive and the second Electronic Money Directive, is to boost competition and innovation on the payments market by creating new categories of payment service providers,...
LitStream

Chapter 7Mobile Payments: The Second Wave

Krueger, Malte

Pages: 214 –235

[When addressing the issue of m-payments, it is difficult to come up with a proper definition. The term remains as opaque as ever. As a consequence, “m-payments” refers to very different types of payments that only have in common that the mobile phone is used somewhere in the payment process. The...
LitStream

Chapter 8Decentralised Blockchained and Centralised Real-Time Payment Ledgers: Development Trends and Basic Requirements

Leinonen, Harry

Pages: 236 –261

[The number of virtual currencies based on blockchain technology grows rapidly, counting more than 400 different schemes today (ECB, 2012, 2015; Raymaekers, 2015). Bitcoin (Bitcoin, 2015) is the largest and most widely known, but it has several competitors such as Ripple (Ripple, 2015), Litecoin...

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