Research Discussion Papers, Bank of Finland
Promoting efficient retail payments in Europe
(), Emmi Martikainen
() and Tuomas Takalo
Abstract: In this article we first document the evidence showing how
an efficient retail payment infrastructure enhances economic performance.
We then review the policy tools available to promote efficient retail
payments in Europe. We argue that while SEPA is an important policy
initiative that harmonizes payment methods across the EU, it alone is not
enough. Vigorous competition and consumer protection policies as well as
direct interventions discouraging large value cash payments would be
particularly attractive policy tools as they would put no strain on
stretched government budgets.
Keywords: retail payment; SEPA; competition; consumer protection; economic performance; (follow links to similar papers)
JEL-Codes: G21; G28; (follow links to similar papers)
21 pages, July 28, 2014
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- This paper is published as:
Hasan, Iftekhar, Emmi Martikainen and Tuomas Takalo, (2014), 'Promoting efficient retail payments in Europe', Journal of Payments Strategy & Systems, Vol. 8, No. 4, pages 395-406
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