Payment Card Systems as an Example of Two-sided Markets – a Challenge for Antitrust Authorities
Payment Card Systems as an Example of Two-sided Markets – a Challenge for Antitrust Authorities
Author(s): Katarzyna ToszaSubject(s): Business Economy / Management, Commercial Law
Published by: Wydawnictwo Naukowe Wydziału Zarządzania Uniwersytetu Warszawskiego
Keywords: two-sided markets; antitrust v. regulation; inter-change fees; payment card systems
Summary/Abstract: This article aims to present the concept of two-sided markets on the example of payment card systems, which have attracted the attention of regulatory and antitrust authorities in recent years. First, the paper offers a few insights into the basic economic theory behind two-sided markets. Second, it presents a brief description of payment card systems and their features. The following analysis focuses on arguments that speak in favour of a regulatory or antitrust intervention into payment card systems. Finally, some of the potential problems that antitrust authorities must face when assessing two-sided markets are presented on the basis of an assessment of the decisional practice of the UOKiK President and the European Commission.
Journal: Yearbook of Antitrust and Regulatory Studies (YARS)
- Issue Year: 2/2009
- Issue No: 2
- Page Range: 125-140
- Page Count: 16
- Language: English