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New Entrants

In: Payment Systems

Author

Listed:
  • Dominique Rambure
  • Alec Nacamuli

Abstract

As mentioned in Chapter 1 (sec. 2.1), several non-financial institutions are offering payment services, breaking in to the cosy monopoly the banks enjoyed up until the end of the last century. Each one can present the following threats: Brand disintermediation: will the new entrant substitute itself in the mind of the customer to his/her bank as first choice when thinking of effecting a payment or initiating the transaction? Who defines the customer experience? Loss of revenue, be it fees, float or interest on revolving credit, etc. By-pass: does the non-banking service provider use conventional payment systems and providers, adding value at the periphery, or does it create a totally new scheme? Risk: does the scheme operated by non financial institutions present risk to its customers or create systemic risk?

Suggested Citation

  • Dominique Rambure & Alec Nacamuli, 2008. "New Entrants," Palgrave Macmillan Studies in Banking and Financial Institutions, in: Payment Systems, chapter 9, pages 130-135, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-0-230-22721-7_9
    DOI: 10.1057/9780230227217_9
    as

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