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The Development Of Payment Services As An Example Of Disintermediation In The Financial System

Author

Listed:
  • Agnieszka Aliñska

    (Department of Treasury, Collegium of Socio-Economics, Warsaw School of Economics)

  • Izabela Czepirska

    (Department of Treasury, Collegium of Socio-Economics, Warsaw School of Economics)

Abstract

The reasons for disintermediation in the fi nancial systems can be found on both sides of supply and demand. This progressing phenomenon is a result of numerous changes in the post-crisis fi nancial sector landscape. In this article, the authors analyse the underlying causes of the shitaway from formal fi nancial institutions in the area of fi nancial services as well as present the Polish payment services market as an example of banks’ receding role in the traditional intermediation between market players.

Suggested Citation

  • Agnieszka Aliñska & Izabela Czepirska, 2016. "The Development Of Payment Services As An Example Of Disintermediation In The Financial System," "e-Finanse", University of Information Technology and Management, Institute of Financial Research and Analysis, vol. 12(2), pages 60-73, October.
    • Handle: RePEc:rze:efinan:v:12:y:2016:i:2:p:60-73
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    References listed on IDEAS

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    1. Schmidt, Reinhard H. & Hackethal, Andreas & Tyrell, Marcel, 1999. "Disintermediation and the Role of Banks in Europe: An International Comparison," Journal of Financial Intermediation, Elsevier, vol. 8(1-2), pages 36-67, January.
    2. Bhattacharya Sudipto & Thakor Anjan V., 1993. "Contemporary Banking Theory," Journal of Financial Intermediation, Elsevier, vol. 3(1), pages 2-50, October.
    3. Degryse, Hans & Van Cayseele, Patrick, 2000. "Relationship Lending within a Bank-Based System: Evidence from European Small Business Data," Journal of Financial Intermediation, Elsevier, vol. 9(1), pages 90-109, January.
    4. Christopher W. Anderson & Anil K. Makhija, 1995. "Deregulation, disintermediation, and agency costs of debt: evidence from Japan," Proceedings 467, Federal Reserve Bank of Chicago.
    5. Allen, Franklin & Santomero, Anthony M., 2001. "What do financial intermediaries do?," Journal of Banking & Finance, Elsevier, vol. 25(2), pages 271-294, February.
    6. Peter Szilagyi & Jonathan Batten & Thomas Fetherston, 2003. "Disintermediation and the Development of Bond Markets in Emerging Europe," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 10(1), pages 67-82.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    banks; disintermediation; PSD; payment services; deregulation;
    All these keywords.

    JEL classification:

    • G1 - Financial Economics - - General Financial Markets
    • G2 - Financial Economics - - Financial Institutions and Services
    • G3 - Financial Economics - - Corporate Finance and Governance

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