| Tekijä: | Schmalensee, R. |
| Otsikko: | Payment systems and interchange fees |
| Lehti: | Journal of Industrial Economics
2002 : JUN, VOL. 50:2, p. 103-122 |
| Asiasana: | BANKS CREDIT CARDS PAYMENT SYSTEMS |
| Kieli: | eng |
| Tiivistelmä: | In a typical bank credit card transaction, the merchant's bank pays an interchange fee, collectively determined by all participating banks, to the cardholder's bank. This paper shows how the interchange fee balances charges between cardholders and merchants under imperfect competition. The privately optimal fee depends mainly on differences between cardholders' and merchants' banks, not their collective market power. |
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