期刊名称：American Journal of Economics and Business Administration
印刷版ISSN：1945-5488
电子版ISSN：1945-5496
出版年度：2010
卷号：2
期号：4
页码：384-394
DOI：10.3844/ajebasp.2010.384.394
出版社：Science Publications
摘要：Problem statement: The Single Euro Payments Area (SEPA) project plans to establish an integrated market for extending European integration to retail payments; it aims to provide incentives for using payment systems instead of cash for all micro payments, in order to improve both efficiency and competition in the Euro area. In this study we described the SEPA and its effects on competition and innovation in the payment systems. Moreover, we will discuss the main technological innovations (particularly mobile payments, biometrics payments and smart cards) and their impacts on retail payments. Approach: In order to analyze the impact of new technologies on cash usage we employed a mathematical model. This model is an extension of duopolistic competition to three market players; it allows analyzing market changes caused both by SEPA and technological innovations. Results: Our numerical simulations showed that new technologies cause a reduction of cash usage, such as SEPA project states. Conclusion: New payment technologies provided new benefits than the traditional payment systems. These new technologies reduced the transaction times and the logistic costs of cash management; moreover they improve the transactions safety, their easiness and convenience. Such benefits push consumers to use these new payment technologies for micro-payments (pubs and bars, nightclubs, fast food outlets, retail fuel, convenience store and vending machines), thus reducing the use of cash such as SEPA project states.
