Convergence of European retail payments

Abstract

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Promoting Efficient Retail Payments in Europe

“…The results by Hasan et al (2012Hasan et al ( , 2013 suggests that migration from paper to electronic retail payments has a positive impact on the banking sector performance and the real economy in the EU. In contrast, Schmiedel et al 2012 Within the Eurozone, electronic forms of payments are popular, and increasingly so in Finland, Netherlands, Estonia, Luxembourg, Germany, and Austria (see Martikainen et al 2013 and Figure 1). In contrast, they remain particularly little used in Greece, Italy, Malta, and Cyprus.…”

“…According to the data of Martikainen et al (2013) this is because of popularity of cash payments in these countries. 1 As argued by Hasan and Takalo (2014), Figure 1 suggests a correlation between payment habits and recent economic fortunes, which we try to capture in Figure 2.…”

“…Despite that payment habits appear to be slowly converging within the EU, a significant cross-country variation of payment habits persists in Europe (Martikainen et al 2013). As we document in the next section, there is a correlation between payment habits and recent economic fortunes in the EU.…”

The Use of Cheques in the European Union: A Cross-Country Analysis

“…The authors obtained empirical evidence of a substitution effect between cards and cheques in the volume and value of transactions with cheques. Deungoue (2008) and Martikainen et al (2015), while focusing their analysis on the convergence of payment behaviour in European countries (for the periods from 1990 to 2002 and 1995 to 2001, respectively), put forward some possible reasons for the differences in payments with cheques. In both cases, the results suggested that payments with cheques were not converging in the EU.…”

A Data-Driven Supply-Side Approach for Estimating Cross-Border Internet Purchases Within the European Union

“…First, consumption through on-line channels of both goods and services is increasing within the European Union (EU), especially across borders. More consumers have access to the Internet, shipping costs are decreasing and payment services are converging across countries (Marcus and Petropoulos, 2016;Cardona and Duch-Brown, 2016;Martikainen et al, 2015). Accurate estimates of cross-border on-line consumption are of increasing importance for adequately reporting on national accounts by national statistical institutes.…”