Jakub Gorka (EDT) Transforming Payment Systems in Europe

Annotation

TheEuropean payment market has undergone rapid transformation in recent years dueto changes in payment habits, new business rules and new legal frameworks andregulation. There has also been an advent of new technologies and paymentsolutions which has altered the European payments landscape drastically. Thisbook provides an overview of the key issues involved in this new paymentslandscape. The authors discuss fundamental problems such as substitutionbetween cash and non-cash payment instruments, payment costs, the economics offees, and the demand for cash and deposit money. They also analyse issues suchas two-sided markets, business platforms and the problem of critical mass. Otherchapters focus on new phenomena in payments such as mobile payments,multi-sided platforms, electronic wallets, virtual currencies, decentralisedledgers, private digital currencies, blockchain and instant payments. Theauthors also review existing regulation for the topic including the revisedPayment Services Directive (PSD2), Interchange Fee Regulation (IF/MIF Reg), andthe Single Euro Payments Area (SEPA) project. Transforming Payment Systems in Europe offers insight intochanging payment culture and the ways in which new payment systems can create asingle digital market to foster further integration in Europe.