Browsing by Subject "maksukortit"

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  • Kemppainen, Kari (2019)
    Euro & talous. Blogi
    Maksutavoissa on suuria eroja eri EU-maiden välillä.
  • Jyrkönen, Hanna; Paunonen, Heli (2003)
    Suomen Pankin keskustelualoitteita 8/2003
    Retail payment methods are in a stage of rapid development.New service providers and technological developments enable new payment services through a variety of channels.Payment solutions are being developed based eg on the Internet and on mobile phones. Presumably, the use of paper-based payment instruments will decrease further in the future thanks to electronification in the retail payment area. In this paper we focus on card payments in Finland and certain other countries.We also look at Internet- and mobile-based payments and discuss some of the challenges related to the new solutions.The paper ends with a brief discussion of recent changes in Finnish legislation in connection with retail payments. Key words: retail payments, payment cards, Internet payments, mobile payments
  • Nisén, Anne (2013)
    Bank of Finland. Financial market report 2
    Quick and easy payment methods are gaining popularity. Consumers are already accustomed to paying for purchases by card and invoices online. The latest payment trends seem to be to contactless and mobile payment.
  • Salmela, Maija (2010)
    Bank of Finland. Financial market report 3
    As payment cards with a chip have become increasingly widespread, card misuse has become more difficult. Criminals have thus shifted their focus from copying cards to stealing payment card PINs and wallets. Crime is also increasingly committed via the internet, eg identity hijacking.
  • Leinonen, Harry (2011)
    Bank of Finland Research Discussion Papers 3/2011
    Published in European Competition Journal, Volume 7, No 3, December 2011: 527-557
    Cards and cash are competing payment instruments at point-of-sale. The twosided market platform theory, based on general benefit assumptions, supports the use of multilateral interchange fees for card payments as a means of promoting the use of cards. However, analysis of the issue from the concrete processing cost viewpoint leads to the opposite conclusion: collection of debit card interchange fees by issuers results in subsidisation of cash and so actually promotes the use of cash instead of cards. Banks use card interchange revenues to cover cash distribution costs. For merchants, interchange fees increase payment costs and thus reduce the possibilities to pass through to customers the cost savings flowing from card efficiency. Moreover, because of high merchant fees due to high interchange fees, merchants are also more reluctant to accept payment cards. An MIF based on the tourist level approach will result in all parties being indifferent between cash and cards and thereby delay the realisation of the cost benefits of increased debit card usage. The resent actions of authorities to increase transparency and reduce cross-subsidisation seem to point in the right direction towards more efficient resource allocation in payments.
  • Virén, Matti (1994)
    Bank of Finland. Bulletin 68 ; 2 ; February
  • Takala, Kari; Virén, Matti (2008)
    Bank of Finland Research Discussion Papers 11/2008
    This paper deals with optimal payment systems. The issue boils down to how large are the costs of different payment media, which can be interpreted as a question of the efficiency of the means of payment. However, there are other qualifications related to the choice of payment media. Here, at least three issues can be distinguished. First is the question of optimal payment medium for each individual payment (size, location, EFTPOS etc.). This choice is not independent of the individual characteristics of the payer and payee. Secondly, there is the question of cost effectiveness of payments for different institutions and sectors. The final issue concerns the social optimum for each payment medium. These issues have been particularly controversial in the case of cash, which is still the dominant payment medium in most euro countries. Part of the controversy arises from the fact that the costs and benefits of different payment media affect different market participants in quite different ways, so that a possible social optimum might not correspond eg to the optima for different firms. The paper contains a short review of calculation methods and empirical results for a sample of countries. It also provides new evidence from Finland, which is to an extent one of the front-runners in payment technology and institutional design in payment systems. This shows up in relatively low overall costs of payments. Our estimate of total costs of payment media is 0.3 per cent of GDP, which is very low by international standards.
  • Kokkola, Tom; Pauli, Ralf (1994)
    Bank of Finland. Bulletin 68 ; 12 ; December
  • Iivarinen, Timo (2004)
    Bank of Finland. Financial market report 4
    The Finnish Parliament chose to rely on tight monitoring instead of imposing a euro limit on banks' service charges, in order to reduce abuse of market power. There will be changes in the division of responsibilities concerning the misuse of payment cards. Electronic invoicing is quickly gaining ground in Finland. The number of interbank payments in the euro area has decreased slightly.
  • Takala, Kari (2008)
    Suomen Pankki. Rahoitusmarkkinaraportti 1
    Yhteinen eurokäteisalue on muuttanut selvästi vähittäismaksutapoja. Korttimaksaminen yleistyy vauhdilla, mutta käteisen käyttö on useissa euromaissa edelleen vahvoilla. Muutokset käteisen käytössä ovat olleet yllättävän suuria.
  • Takala, Kari (2016)
    Euro & talous. Blogi
    Kouriintuntuvin yhteisvaluutan etu on käteisen yhteiskäyttöisyys kaikissa euromaissa. Eurokäteistä voidaan käyttää ja liikutella euroalueella ilman valuutanvaihtokuluja ja maksuja.
  • Kemppainen, Kari (2012)
    Suomen Pankki. Rahoitusmarkkinaraportti 1
    Euroopan komissio julkaisi tammikuussa ns. vihreän kirjan16, jossa se hahmottelee eurooppalaisen kortti-, internet- ja mobiilimaksamisen nykytilaa. Lisäksi komissio pyrkii tunnistamaan keskeisimpiä esteitä matkalla kohti yhtenäisiä eurooppalaisia markkinoita. Kirja sisältää 32 kysymystä, joihin saatuja vastauksia komissio hyödyntää pohtiessaan integraation vauhdittamishankkeitaan.
  • Kemppainen, Kari (2012)
    Bank of Finland. Financial market report 1
    In January 2012, the European Commission published the Green Paper16, which outlines the current landscape of European card, Internet and mobile payments. On top of which it aims to identify key barriers en route to a single integrated European market. The Green Paper poses 32 questions, the answers to which will be used by the Commission when pondering how market integration can be accelerated.
  • Snellman, Jussi (2000)
    Suomen Pankin keskustelualoitteita 19/2000
    During the 1990s the availability of location-specific retail payment services in Finland declined substantially, but at the same time there was a surge of development of self-service methods. These new methods, which make use eg of mobile phones and the Internet, dramatically increased the availability of payment services that are not tied to location.More traditional forms of payment still exist; for example, the use of cash remains significant.In Europe there are marked differences between countries with respect to the use of different payment methods. Generally, the use of cashless payment instruments has increased during the last ten years, but it seems that payment patterns are still not converging to similar structures. The development of the Finnish retail payment system has long roots, and several factors - eg the salary bank arrangement of the 1960s and the severe banking crisis of the early 1990s - have influenced the development of the current Finnish payment system. In the retail payments area, new technologies are developing rapidly.The success of new forms of payment (based eg on mobile phones) in gaining general acceptance may depend on changes in the nature of consumption.If customer demand increasingly shifts toward virtual goods and services, the demand for new types of payment methods such as electronic money may increase substantially. Keywords: retail payments, electronification, ATMs, Internet banking
  • Leinonen, Harry (2009)
    Bank of Finland. Expository studies. A 113
    This publication consists of seven studies on retail payment issues presented as preliminary versions at the annual Bank of Finland Payment Habits Seminar in 2008. Interest in retail payment services has recently been growing at a fast pace among authorities and the general public. For this, there are several reasons: developments in technology, changes in the competitive framework and globalization. Authorities have become increasingly concerned about the efficiency and standardization issues of retail payments. A key topic of research appears to be the extent to which the payment habits of the general public can and should be switched to options that are more efficient for the society as a whole, as well as the means of achieving this. The current marketing setup seems to bias customers against change and to promote the use of legacy solutions and old habits instead of the modern solutions. However, recent trends for change seem to be pointing in new directions for the evolution of payment habits. Keywords: payment services, payment costs and pricing, card payments, electronic and mobile payments JEL classification numbers: G10, G18, F15, H4, L86, 033
  • Goel, Rajeev K.; Mehrotra, Aaron (2011)
    BOFIT Discussion Papers 4/2011
    Published in Applied Financial Economics Volume 22, Issue 11, 2012 as "Financial Payment Instruments and Corruption"
    Using recent pooled data from several developed nations, the paper uniquely examines whether the composition of payment instruments has a bearing on the prevalence of corruption in a country. Our results suggest that the choice of instruments matters. Paper credit transfer transactions are consis-tently associated with corrupt activities, while credit card transactions tend to reduce them. Cheques generally increase corruption, the results with respect to nonpaper credit transfers are mixed, while direct debits fail to show significant effects on corruption. These findings hold for alternative corruption measures and when allowance is made for endogeneity of payment instruments. Keywords: Corruption; Cheques; Credit card; Cash; Direct debit; Payment instruments JEL classification codes: K4; G3; H3; F3
  • Levo, Urpo; Takala, Kari (2004)
    Bank of Finland. Bulletin 78 ; 2
    At the beginning of 2004, Finland's currency supply system was overhauled with the aim of creating a more efficient system with less overlap, a clearer division of labour and lower overall costs. Central bank opening hours for the reception of cash were extended and regional cash depots were established in selected areas on a trial basis.As a result, the Bank of Finland will now concentrate more clearly on wholesale activities in its currency supply and reduce the provision of individualised services for the banks and other private customers.In recent decades, Finnish banks have taken similar steps to outsource their currency supply operations to private specialists.
  • Iivarinen, Timo (2005)
    Bank of Finland. Financial market report 2
    The popularity of online banking and card payments continues to grow in Finland. Domestic debit cards are the most popular of payment cards. In the next few years, a shift to the use of international debit cards directly linked to the payer's account may bring changes to the use of payment cards.
  • Snellman, Jussi; Vesala, Jukka (1999)
    Bank of Finland Research Discussion Papers 8/1999
    This paper examines the electronification of noncash payments in Finland and the extent to which noncash payment means are used as substitutes for cash. We model the processes of cash substitution and electronification of payments as 'S'-shaped learning curves and generate forecasts by extrapolating these curves. The 'S'-shaped learning curves fit the data well. Our results indicate that in Finland the cash substitution process as a whole is approaching the saturation point. Although the electronification process is clearly ongoing as regards larger-value bill payments, for small-value point-of-sale payments we seem to have reached saturation. Electronification of payments, having progressed swiftly and extensively in Finland, is already beginning to slow down. We conclude the paper with a discussion of the reasons for this turn of events and of the different factors that affect the speed of diffusion of new means of payment. Key words: payments, electronification, learning curves
  • Leinonen, Harry (2007)
    Bank of Finland. Bulletin 4