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is expected that the creation of a Single European Payments Area (SEPA) will spur consolidations and mergers among …
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This paper discusses various theoretic concepts which play a role in assessing the public benefits of Target, the large value RTGS payment network operated by the Eurosystem. These concepts touch upon natural monopoly, network externalities, competition and contestability, as well as economies...
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The paper provides an overview of studies on the social and private costs of retail payments conducted since 2013 in … nine EU countries and collates the results obtained. Social costs of retail payments are the overall costs resulting from … intermediaries. Understanding the social and private costs of retail payments is crucial for assessing the impact of the rapidly …
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