Archive for December, 2009

Optimal fees in payment card markets

Antitrust y Tarjetas de Pago: En Busca de la Tasa de Intercambio Óptima (Antitrust and Payment Cards: In search of the Optimal Interchange Fee), by Juan Delgado and Eduardo Perez Asenjo

PERSPECTIVAS DEL SISTEMA FINANCIERO: Tarjetas de pago; (2009), nº 9

In recent years, antitrust cases relating to payment cards have increased worldwide. The proper functioning of the market for payment cards requires agreements between competitors but, to what extent such agreements are not just facilitators of cartels? The optimal determination of the fees for the use of cards and the rules governing the functioning of the market is a live issue both in the field of public policy as in academia. The increasing sophistication of economic analysis has enabled public authorities intervene more accurately in those markets. Should the market not provide an efficient solution, public authorities should follow closely the development of the payments card markets to ensure that consumer welfare is not harmed.


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