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A European card payments scheme: Forever a phantom?

Author

Listed:
  • Judt, Ewald

    (Vienna University of Economics and Business, Austria)

  • Krueger, Malte

    (University of Applied Sciences Aschaffenburg and PaySys Consultancy, Germany)

Abstract

For many years there have been requests for and debates about a European Card Payments Scheme (ECPS), with no implementation so far. This paper shows that a true ECPS will not occur within the scope of the current architecture of the card market, which is based on competition. The creation of a true ECPS can only be achieved by means of a cooperative solution similar to the European Payments Council. This, however, will require the consensus of the European players in the card business and the willingness to make the necessary capital investment, as well as the benevolent support of the European institutions that have demanded an ECPS. So far, however, European decision makers have only formulated a wish-list with somewhat inconsistent items and the top management of European banks has displayed a noticeable lack of interest in this topic. Therefore, the ECPS will probably remain a phantom.

Suggested Citation

  • Judt, Ewald & Krueger, Malte, 2014. "A European card payments scheme: Forever a phantom?," Journal of Payments Strategy & Systems, Henry Stewart Publications, vol. 7(4), pages 344-358, January.
    • Handle: RePEc:aza:jpss00:y:2014:v:7:i:4:p:344-358
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    More about this item

    Keywords

    European Card Payments Scheme; SEPA; payment cards; internal market;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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