Avadanei, Anamaria and Ghiba, Nicolae (2010): Implication of Single Euro Payments Area for financial services market. The case of Romania. Published in: MIBES 2010 Proceedings , Vol. ISBN 9, (6. June 2010): pp. 630-643.
Download (181kB) | Preview
For our country, the development and the modernization of the national system of payments were and are a prevalent subject of the financial arena, after the socialist period since 1990. The purpose of this study is to examine the actual status and the future application of Single Euro Payments Area (SEPA). Frameworks, based on the Romanian experience. The study is structured on chapters that present the theoretical background of the theme, the strategy for the adoption and migration to SEPA payment instruments, the actual stage and the challenges of the SEPA implementation in Romania. Our aim is to underline the importance of adopting Single Euro Payments in our country and to present its overall impact on the national financial services market. Although Romania may be facing obstacles in terms of joining the Euro zone, it is already well integrated in terms of payment infrastructures and has already put in place SEPA instruments.
|Item Type:||MPRA Paper|
|Original Title:||Implication of Single Euro Payments Area for financial services market. The case of Romania|
|English Title:||Implication of Single Euro Payments Area for financial services market. The case of Romania|
|Keywords:||Single Euro Payments Area; direct debit; Payments Services Directive; corporate bodies; Romanian banking system|
|Subjects:||F - International Economics > F3 - International Finance > F30 - General
E - Macroeconomics and Monetary Economics > E4 - Money and Interest Rates > E44 - Financial Markets and the Macroeconomy
|Depositing User:||Anamaria Avadanei|
|Date Deposited:||09. Feb 2011 09:32|
|Last Modified:||17. Feb 2013 20:28|
Baxter, W. 1983,”Bank Interchange of Transactional Paper: Legal and Economic Perspectives", Journal of Law and Economics, 26 (3), 541-588.
Beju, D.,and A. Filip, 2008, “The impact of European integration on the payment system”, Analele Universitatii din Oradea Stiinte Economice, XVII, 685-690.
Bolt, W., and D. Humphrey, 2007, “Payment network economies, SEPA and cash replacement”, Review of Network Economics, Concept Economics, 6(4), 453-473.
Chakravorti, S., and T. To, 2007,”A Theory of Credit Cards," International Journal of Industrial Organization 25 (3), 583-595.
Dedu, D., and R. Bratu, 2008, “Romanian payment system perspectives in the context of the integration in EU”, Studia Universitatis Babes-Bolyai Oeconomica, 1. 92-101.
Directive 2007/64/EC of the European Parliament and of the Council on Payment Services in the Internal Market, 2007, Official Journal of the European Union L319, 1-36.
Dumitru, I., 2008, “SEPA and non-SEPA Payments in Romania”, TRANSFOND Romania.
European Card Review, 2007, “A SEPA good news story”. European Central Bank, 2008, “Single Euro Payments Area”, Sixth Progress Report.
European Commission, 2008, “SEPA: Potential Benefits at Stake: Researching the Impact of SEPA on the Payments Market and its Stakeholders".
European Payments Council, 2010, “SEPA Vision and Goals”, EPC Newsletter, Issue 6.
Ferro, G., 2008, “Special Interest Session on SEPA&PE-ACH”, Opening Speech, Sibos, Vienna.
Hasan, I., Schmiedel, H., and L. Song, 2009, “Return to Retail Banking and Payments”, European Central Bank Working Paper Series, No. 1135
Kempainnen, K., 2008, “Integrating retail payment systems: some economics of SEPA”, Bank of Finland Research Discussion Papers, 22.
McCreevy, C., 2009, “Financial Crisis-SEPA can be Part of the Solution”, European Payments Council Newsletter, Issue 1.
National Bank of Romania, 2009,”Aggregate indicators for credit institutions”, December Monthly Bulletin, available from Internet: http://www.bnr.ro/Publicatii-periodice-204.aspx.
National Bank of Romania, 2008, Annual Report 2007, available from internet: http://www.bnr.ro/files/d/Pubs_en/Anuale/AR2007.pdf.
Pascu, C., 2008, “Romanian Banking Overview”, Roland Berger Strategy Consultants S.R.L.
Rochet, J.-C, and J. Tirole, 2002, “Cooperation among Competitors: Some Economics of Payment Card Associations", RAND Journal of Economics, 33(4), 549-570.
Romanian Banking Association, 2009,”National Implementation and Migration Plan”, V3.0., SEPA Task Force.
Schaefer, G.K., 2008, “An economic analysis of the Single Euro Payments Area (SEPA)”, FIW Working Paper series, 11.
Schmalensee, R. 2002, “Payment Systems and Interchange Fees”, Journal of Industrial Economics, 50 (2), 103-122.
Socol, A. and L. Badea, 2009, “The Romanian banking card market: an explanatory study based on the future adoption of Single Euro Payments Area”, Business and Law, Vol. 3, 66-86.
Shahrokhi, M., 2008, “E-finance: status, innovations, resources and future challenges”, Managerial Finance, 34(6), 365-398.
Tomescu, M., 2008, “SEPA and the economic operators”, National Bank of Romania, Payments Divizion.
Tuchila, R., 2009, “SEPA Migration Update-Romania”, Romanian Banking Association, EU FORUM of National SEPA Coordination Committee.
Wright, J., 2004, “Determinants of Optimal Interchange Fees in Payment Systems”, Journal of Industrial Economics, 52, 1-26.