Banking industry has been in a process of significant transformation. The force behind this
transformation of the banking industry is innovation in information technologies. Information …

THE commercial banking business has changed dramatically over the past 30 years, due in
large part to technological change. 1 Advances in telecommunications, information …

Financial institutions have been in the process of significant transformation. The force
behind the transformation of these institutions is innovation in information technology …

This paper analyses currency in circulation in the euro area since the beginning of the
1980s. After a literature review we present some stylised facts on currency holdings in the …

Empirical evidence based on grocery store transaction data shows that consumer payment
behavior at the point of sale is important for understanding models of money demand. There …

The substitution of noncash (check, giro, credit and debit card) payments for cash
transactions is of interest for monetary policy and for determining central banks' future …

This paper examines the ways in which central banks influence the very short‐term interest
rate in regimes with and without reserve requirements. It then examines the implications for …

Empirical consumer payment price sensitivity has implications for theory, optimal regulation
of payment card networks, and business strategy. A critical margin is the price of a credit …

In recent years, many studies have emphasized the cost-saving potential of electronic
payments. Yet, cash is still heavily used to pay for point-of-sale transactions in many …

While payment card usage has increased dramatically, the stock of outstanding currency
has not declined as rapidly. We analyze changes in cash demand for 13 advanced …