Governance, issuance restrictions, and competition in payment card networks:
I discuss the antitrust suit brought by the U.S. Department of Justice against Visa and MasterCard in 1998. Banks that issue Visa cards are free to also issue MasterCard cards, and vice versa, and many banks issue the cards of both networks. However, both Visa and MasterCard had rules prohibiting me...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Cambridge, Mass.
National Bureau of Economic Research
2007
|
| Schriftenreihe: | Working paper series / National Bureau of Economic Research
13218 |
| Online-Zugang: | kostenfrei |
| Zusammenfassung: | I discuss the antitrust suit brought by the U.S. Department of Justice against Visa and MasterCard in 1998. Banks that issue Visa cards are free to also issue MasterCard cards, and vice versa, and many banks issue the cards of both networks. However, both Visa and MasterCard had rules prohibiting member banks from also issuing the cards of other networks, in particular American Express and Discover. In addition, most banks are members of both the Visa and MasterCard networks, so governance is to some extent shared. The DOJ claimed that restrictions on issuance and shared governance were anticompetitive and should be prohibited. Visa and MasterCard argued that these practices were procompetitive. The case raised important questions: Given that many banks issue both Visa and MasterCard, and that most merchants that accept one also accept the other, do the two networks really compete, and if so, how? And do Visa and/or MasterCard have market power, if so, in what market, and how is it exercised? |
| Beschreibung: | Literaturverz. S. 24 |
| Beschreibung: | 26 S. 22 cm |
Internformat
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| 520 | 8 | |a I discuss the antitrust suit brought by the U.S. Department of Justice against Visa and MasterCard in 1998. Banks that issue Visa cards are free to also issue MasterCard cards, and vice versa, and many banks issue the cards of both networks. However, both Visa and MasterCard had rules prohibiting member banks from also issuing the cards of other networks, in particular American Express and Discover. In addition, most banks are members of both the Visa and MasterCard networks, so governance is to some extent shared. The DOJ claimed that restrictions on issuance and shared governance were anticompetitive and should be prohibited. Visa and MasterCard argued that these practices were procompetitive. The case raised important questions: Given that many banks issue both Visa and MasterCard, and that most merchants that accept one also accept the other, do the two networks really compete, and if so, how? And do Visa and/or MasterCard have market power, if so, in what market, and how is it exercised? | |
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| id | DE-604.BV023593126 |
| illustrated | Not Illustrated |
| index_date | 2024-07-02T22:41:31Z |
| indexdate | 2024-07-09T21:25:14Z |
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| language | English |
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| physical | 26 S. 22 cm |
| publishDate | 2007 |
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| spelling | Pindyck, Robert S. 1945- Verfasser (DE-588)128956399 aut Governance, issuance restrictions, and competition in payment card networks Robert S. Pindyck Cambridge, Mass. National Bureau of Economic Research 2007 26 S. 22 cm txt rdacontent n rdamedia nc rdacarrier Working paper series / National Bureau of Economic Research 13218 Literaturverz. S. 24 I discuss the antitrust suit brought by the U.S. Department of Justice against Visa and MasterCard in 1998. Banks that issue Visa cards are free to also issue MasterCard cards, and vice versa, and many banks issue the cards of both networks. However, both Visa and MasterCard had rules prohibiting member banks from also issuing the cards of other networks, in particular American Express and Discover. In addition, most banks are members of both the Visa and MasterCard networks, so governance is to some extent shared. The DOJ claimed that restrictions on issuance and shared governance were anticompetitive and should be prohibited. Visa and MasterCard argued that these practices were procompetitive. The case raised important questions: Given that many banks issue both Visa and MasterCard, and that most merchants that accept one also accept the other, do the two networks really compete, and if so, how? And do Visa and/or MasterCard have market power, if so, in what market, and how is it exercised? Erscheint auch als Online-Ausgabe National Bureau of Economic Research <Cambridge, Mass.> NBER working paper series 13218 (DE-604)BV002801238 13218 http://papers.nber.org/papers/w13218.pdf kostenfrei Volltext |
| spellingShingle | Pindyck, Robert S. 1945- Governance, issuance restrictions, and competition in payment card networks |
| title | Governance, issuance restrictions, and competition in payment card networks |
| title_auth | Governance, issuance restrictions, and competition in payment card networks |
| title_exact_search | Governance, issuance restrictions, and competition in payment card networks |
| title_exact_search_txtP | Governance, issuance restrictions, and competition in payment card networks |
| title_full | Governance, issuance restrictions, and competition in payment card networks Robert S. Pindyck |
| title_fullStr | Governance, issuance restrictions, and competition in payment card networks Robert S. Pindyck |
| title_full_unstemmed | Governance, issuance restrictions, and competition in payment card networks Robert S. Pindyck |
| title_short | Governance, issuance restrictions, and competition in payment card networks |
| title_sort | governance issuance restrictions and competition in payment card networks |
| url | http://papers.nber.org/papers/w13218.pdf |
| volume_link | (DE-604)BV002801238 |
| work_keys_str_mv | AT pindyckroberts governanceissuancerestrictionsandcompetitioninpaymentcardnetworks |