Kari Kemppainen Integrating European retail payment systems : some economics of SEPA Bank of Finland

  title={Kari Kemppainen Integrating European retail payment systems : some economics of SEPA Bank of Finland},
  author={Kari Kemppainen},
Using a spatial competition model of retail payment networks, this paper discusses the likely economic consequences associated with the formation of the Single Euro Payments Area (SEPA). The model considers an expansion of positive network externalities on the demand side and adjustment cost on the supply side and reveals that the introduction of SEPA may not lead to a fully competitive and integrated retail payment markets. This is especially the case when the markets are segmented before the… CONTINUE READING

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