Vienna, 12 - 13 May 2011
Retail payment markets have been developing rapidly throughout the last decade. In Europe a number of legal and regulatory initiatives and measures have been adopted with the aim of achieving an integrated single market. In other regions (e.g. Australia, Canada, the United States) retail payment markets have also recently been subject to regulatory and legal interventions.
The market-initiated Single Euro Payments Area (SEPA) project has accelerated the development of the European retail payments market into one that is based on increasingly integrated and more competitive market structures. Technological innovations have driven these fundamental changes. Other regions have had similar experiences or even more significant movement in the field of payment innovations and developments.
Although there is a widespread belief that increasing the development and integration of retail payments is likely to generate benefits on the whole, it may also involve challenges in the shape of risks and security threats. Against this background, it is important to understand the economic factors driving future developments and to take a forward-looking perspective that anticipates the factors likely to influence developments in the retail payment market.
The objectives of this conference are twofold. First, the conference aims to improve the general understanding of payment economics (and related disciplines) in the field of retail payments and, more specifically, to help identify possible developments and dynamics that will shape the future payment landscape. Second, this conference aims to provide a forum for debate and interaction among market participants, policy-makers and researchers.
The four major themes covered by the conference are:
Wolfgang Duchatczek (Vice Governor, Oesterreichische Nationalbank)
Chair: Gertrude Tumpel-Gugerell (Member of the Executive Board, European Central Bank)
Chair: Leo Van Hove (Professor of Economics, Vrije Universiteit Brussel - Free University of Brussels)
Discussant: Heiko Schmiedel (Senior Market Infrastructure Expert, European Central Bank) presentation
Chair: Martin Summer (Head of Division, Oesterreichische Nationalbank)
Discussant: Harry Leinonen (Advisor to the Board, Suomen Pankki - Finlands Bank) presentation
Chair: Stefan Augustin (Director, Oesterreichische Nationalbank) presentation
Chair: Cornelia Holthausen (Adviser, European Central Bank)
Chair: Wiebe Ruttenberg (Head of Division, European Central Bank)
Chair: Stuart E. Weiner (Visiting Professor, Kansas State University) presentation
Discussant: Stuart E. Weiner (Visiting Professor, Kansas State University)
Cecilio Madero Villarejo (Deputy Director General, DG Competition, European Commission)
Chair: Wolfgang Duchatczek (Vice-Governor, Oesterreichische Nationalbank)
David S. Evans (Author and Founder of Market Platform Dynamics) presentation [9.72 MB]
Chair: Daniela Russo (Director General, European Central Bank)
Gertrude Tumpel-Gugerell (Member of the Executive Board, European Central Bank)