Purpose This article is based on a systematic and comprehensive review of the literature on
two-sided platforms, the business structure based on the concept of matchmaking groups of …

This Chapter provides a survey of the economics literature on multi-sided platforms with
particular focus on competition policy issues, including market definition, mergers …

This paper surveys the economics literature on payment cards, focusing on the role of
interchange fees, merchant internalization, surcharging and two-sided markets. The paper …

Using unique data consisting of more than 16.3 million sales transactions provided by a
leading European fashion e-commerce company, this study evaluates several payment …

This paper explains why payment card networks charge fees that are proportional to the
transaction values instead of charging fixed per-transaction fees. We show that, when card …

I formalize the popular argument that retailers pay too much and cardholders too little to
make use of payment card platforms, resulting in excessive use of cards. To do this, I …

Payment card networks, such as Visa, require merchants' banks to pay substantial
“interchange” fees to cardholders' banks on a per transaction basis. This paper shows that a …

This article explains why platforms such as Amazon and Visa rely predominantly on ad
valorem fees, fees which increase proportionally with transaction prices. It also provides a …

Merchant fees and reward programs generate an implicit monetary transfer to credit card
users from non-card (or¿ cash¿) users because merchants generally do not set differential …

This paper provides a new theory for two-sided payment card markets by positing better
microfoundations. Adopting payment cards by consumers and merchants requires a fixed …