IDEAS home Printed from https://ideas.repec.org/p/rmn/wpaper/201905.html
   My bibliography  Save this paper

Multilaterale Interchange-Gebühren: Man sollte das Kind nicht mit dem Bade ausschütten

Author

Listed:
  • Malte Krüger

Abstract

Die Regulierungsbehörden scheinen in Bezug auf multilaterale Interchange-Gebühren (MIF) ambivalent zu sein. Auf der einen Seite behandeln sie die MIF wie Kartellpreise in konventionellen Märkten. Andererseits haben sie eine Obergrenze für die MIF festgelegt - und damit das Konzept von Preisobergrenzen toleriert. Dieses Papier zeigt, dass diese Haltung der Regulierungsbehörden auf die Komplexität der zweiseitigen Märkte zurückzuführen ist. Es wird verdeutlicht, dass Emittenten nicht im Wettbewerb mit Acquirern und Acquirer nicht im Wettbewerb mit Emittenten stehen. Ebenso wenig besteht eine wettbewerbliche Konkurrenz unter den Emittenten um die Zahlungsakzeptanz am POS. Daher können die MIF kein Kartellpreis sein. Darüber hinaus wird argumentiert, dass die MIF als wirtschaftlicher Höchstpreis ein Bestandteil eines gut funktionierenden Kartenzahlungssystems sind. Alle anderen Optionen der Preisbestimmung leiden unter Trittbrettfahrerproblemen und hohen Transaktionskosten. Um die Funktionsweise eines Systems ohne die MIF richtig zu veranschaulichen, werden das deutsche Geldautomaten-System vor 2011 und die bilateralen Verhandlungen im Rahmen des deutschen electronic cash-Systems näher beleuchtet. Schließlich wird darauf hingewiesen, dass der aktuelle Regulierungsansatz zum Untergang der europäischen Kartensysteme führen kann, die derzeit unter dem Druck von Mastercard und Visa stehen.

Suggested Citation

  • Malte Krüger, 2019. "Multilaterale Interchange-Gebühren: Man sollte das Kind nicht mit dem Bade ausschütten," ROME Working Papers 201905, ROME Network.
    • Handle: RePEc:rmn:wpaper:201905
    as

    Download full text from publisher

    File URL: http://www.rome-net.org/RePEc/rmn/wpaper/rome-wp-2019-05.pdf
    File Function: First version, 2019
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Baxter, William F, 1983. "Bank Interchange of Transactional Paper: Legal and Economic Perspectives," Journal of Law and Economics, University of Chicago Press, vol. 26(3), pages 541-588, October.
    2. Schmiedel, Heiko & Börestam, Ann, 2011. "Interchange fees in card payments," Occasional Paper Series 131, European Central Bank.
    3. Santiago Carbó Valverde & Sujit Chakravorti & Francisco Rodríguez Fernández, 2016. "The Role of Interchange Fees in Two-Sided Markets: An Empirical Investigation on Payment Cards," The Review of Economics and Statistics, MIT Press, vol. 98(2), pages 367-381, May.
    4. Wilko Bolt & Nicole Jonker & Mirjam Plooij, 2013. "Tourist test or tourist trap? Unintended consequences of debit card interchange fee regulation," DNB Working Papers 405, Netherlands Central Bank, Research Department.
    5. Börestam, Ann & Schmiedel, Heiko, 2011. "Interchange fees in card payments," Occasional Paper Series 131, European Central Bank.
    6. Wright Julian, 2004. "One-sided Logic in Two-sided Markets," Review of Network Economics, De Gruyter, vol. 3(1), pages 1-21, March.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Alen Veljan, 2020. "The influence of intra- and inter-system concentration on the pre-regulated setting of interchange fees within cooperative card payment networks," Journal of Banking Regulation, Palgrave Macmillan, vol. 21(2), pages 139-151, June.
    2. Schmiedel, Heiko & Bolt, Wilko & Foote, Elizabeth, 2011. "Consumer credit and payment cards," Working Paper Series 1387, European Central Bank.
    3. Schmiedel, Heiko & Bolt, Wilko & Foote, Elizabeth, 2011. "Consumer credit and payment cards," Working Paper Series 1387, European Central Bank.
    4. Bita Shabgard & Javier Asensio, 2023. "The price effects of reducing payment card interchange fees," SERIEs: Journal of the Spanish Economic Association, Springer;Spanish Economic Association, vol. 14(2), pages 189-221, June.
    5. Carlos Arango & Yassine Bouhdaoui & David Bounie & Martina Eschelbach & Lola Hernández, 2013. "Cash Management and Payment Choices: A Simulation Model with International Comparisons," Staff Working Papers 13-53, Bank of Canada.
    6. Aurazo Jose & Vasquez Jose, 2019. "Merchant Card Acceptance: An Extension of the Tourist Test for Developing Countries," Review of Network Economics, De Gruyter, vol. 18(2), pages 109-139, June.
    7. Nicole Jonker, 2013. "Social costs of POS payments in the Netherlands 2002-2012: Efficiency gains from increased debit card usage," DNB Occasional Studies 1102, Netherlands Central Bank, Research Department.
    8. Krueger, Malte, 2009. "The Pricing of Payments," MPRA Paper 24759, University Library of Munich, Germany.
    9. Hasan, Iftekhar & Martikainen, Emmi & Takalo, Tuomas, 2015. "Promoting efficient retail payments in Europe," Journal of Payments Strategy & Systems, Henry Stewart Publications, vol. 8(4), pages 395-406, January.
    10. Anderson, Simon P. & Gabszewicz, Jean J., 2006. "The Media and Advertising: A Tale of Two-Sided Markets," Handbook of the Economics of Art and Culture, in: V.A. Ginsburgh & D. Throsby (ed.), Handbook of the Economics of Art and Culture, edition 1, volume 1, chapter 18, pages 567-614, Elsevier.
    11. Juan, Iranzo & Pascual, Fernández & Gustavo, Matías & Manuel, Delgado, 2012. "The effects of the mandatory decrease of interchange fees in Spain," MPRA Paper 43097, University Library of Munich, Germany.
    12. Arango-Arango, Carlos A. & Betancourt-García, Yanneth Rocío & Restrepo-Bernal, Manuela, 2022. "An application of the tourist test to Colombian merchants," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 3(4).
    13. Vilen Lipatov, 2015. "A Note on Partial Merchant Internalization and MIT Threshold," CESifo Working Paper Series 5684, CESifo.
    14. Mariotto Carlotta & Verdier Marianne, 2017. "Who Pays for Card Payments? A General Model on the Role of Interchange Fees," Review of Network Economics, De Gruyter, vol. 16(3), pages 307-349, September.
    15. László Kajdi & Milán Kiss, 2022. "The impact of policy effects on the Hungarian payments card market," Journal of Banking Regulation, Palgrave Macmillan, vol. 23(2), pages 107-119, June.
    16. repec:zbw:bofrdp:2014_020 is not listed on IDEAS
    17. Hasan, Iftekhar & Martikainen, Emmi & Takalo, Tuomas, 2014. "Promoting efficient retail payments in Europe," Research Discussion Papers 20/2014, Bank of Finland.
    18. Seitz, Franz & Krueger, Malte, 2017. "The Blessing of Cash," International Cash Conference 2017 – War on Cash: Is there a Future for Cash? 162911, Deutsche Bundesbank.
    19. David Bardey & Marcela Meléndez, 2012. "La economía de los mercados de dos lados: aplicación al análisis de las tarjetas de pago en Colombia," Documentos CEDE 10021, Universidad de los Andes, Facultad de Economía, CEDE.
    20. Shy, Oz, 2022. "Interchange fees with cashless stores, cashless consumers, and cash-only consumers," Economics Letters, Elsevier, vol. 212(C).
    21. Jan Frederic Nerbel & Markus Kreutzer, 2023. "Digital platform ecosystems in flux: From proprietary digital platforms to wide-spanning ecosystems," Electronic Markets, Springer;IIM University of St. Gallen, vol. 33(1), pages 1-20, December.

    More about this item

    Keywords

    Mutilaterale Interchange Gebühren; MIF; Kartenzahlungssysteme; Europäische Kartenzahlungssysteme; Wettbewerbspolitik; Regulierung; zweiseitige Märkte; MIF-Regulierung; Interchange Regulierung;
    All these keywords.

    JEL classification:

    • D49 - Microeconomics - - Market Structure, Pricing, and Design - - - Other
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation
    • L41 - Industrial Organization - - Antitrust Issues and Policies - - - Monopolization; Horizontal Anticompetitive Practices

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rmn:wpaper:201905. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Albrecht F. Michler (email available below). General contact details of provider: http://www.rome-net.org .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.