On the efficiency of multilateral interchange fees (MIFs) : how to price cash and cards in order to promote payment efficiency?

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Title: On the efficiency of multilateral interchange fees (MIFs) : how to price cash and cards in order to promote payment efficiency?
Author: Leinonen, Harry
Organization: Suomen Pankki
Series: Suomen Pankki. BoF online
Series number: 4/2007
Year of publication: 2007
Publication date: 6.6.2007
Pages: 33 s.
Keywords: maksukortit; maksuvälineet; hinnoittelu; maksut; kustannukset; tehokkuus; luottokortit; käteinen
Abstract: 1 Introduction 5 2 Payment services are transportation services using fund transfer systems 7 3 Costs of transportation of funds 11 4 Pricing mechanisms of payment services 14 5 Transparent surcharging or embedded merchant payment costs 17 6 The impact of cross-subsidisation, embedded prices, MIFs and different cost structures 20 6.1 Scenario 1): transparent cost-based pricing without an MIF 21 6.2 Scenario 2): mostly bank subsidised payment costs in a win-win situation without MIF 21 6.3 Scenario 3): mostly bank subsidised payment costs in a win-lose situation with MIF 23 6.4 Scenario 4): the impact of an oversized MIF 25 7 Authority reactions to perceived oversized MIFs 27 8 Embedded versus transparent prices 29 9 Summary 31
Rights: https://helda.helsinki.fi/bof/copyright


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