The Making of Europe by payment cards
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Transcript of The Making of Europe by payment cards
THE MAKING OF EUROPE BY PAYMENT CARDSHIDDEN INTEGRATION IN THE ERA OF NEOLIBERALISMPOLITICS, FINANCE AND TECHNOLOGY FROM 1992 TO 2010
Introduction
Research Questions
Methodology
Approach – Misa & Schot
Context – Neoliberalism
Analysis of the SEPA for Cards
Conclusion
Questions?
The Making of Europe by Payment Cards.
Hidden integration in the era of Neoliberalism
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OUTLINE
Aim: European integration through the lens of technology
Technology as ‘hidden integration’ and as agent of change
Reconstruction Single Euro Payments Area for Cards (SEPA for
Cards)
SEPA is harmonization of the payments market in EU Member
States
EU vs. Europe
The Making of Europe by Payment Cards.
Hidden integration in the era of Neoliberalism
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INTRODUCTION
How did the development of payment cards in the SEPA contribute to the Making of Europe?
Which actors were involved in the process of making a European payment card structure, and what Europe visions did the actors have?
What tensions arose during the process of establishing an European card infrastructure between the banks, service providers and the European Union?
How did the American payment card system influence the European payment card system in its infrastructure?
The Making of Europe by Payment Cards.
Hidden integration in the era of Neoliberalism
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RESEARCH QUESTIONS
Extensive literature research primary sources and secondary sources
Scientific articles and book
Governmental Reports
Documentaries
Online sources
Newspaper articles
Inductive approach
Research between European Public Administration and History of Technology
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METHODOLOGY
European integration as ongoing process in which different actors interact with each other and make Europe.
Emphasis on the role of technology
History of Europe as open-ended process
The Making of Europe by Payment Cards.
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AGENCY APPROACH (1)MISA & SCHOT (2005)
European Integration
European Culture
European Technology
European Politics
European Economy
European Law
European Technology
European Politics
European Economics
European Law
European Culture
Research strategies for the integration of technology in economic and
political formation:
Europe as actor category
Europe as emergent outcome
Europe in global perspective
The Making of Europe by Payment Cards.
Hidden integration in the era of Neoliberalism
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AGENCY APPROACH (2)MISA & SCHOT (2005)
Neoliberalism:
“the ideological expression of the reassertion of the power of finance. The term itself, ‘finance’, refers to a framework of institutions, interlocked in a complex network; behind these institutions, stand individuals” (Duménil & Levi, 2001)
Governance market actors influence policy and regulations
Global ideology
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CONTEXTNEOLIBERALISM
1992 Finalization of the Single Market and start of European Monetary
Union
1997 First idea to create a Single Euro Payments Area
1999 Establishment of the European Central Bank and implementation
of the Euro. Start of SEPA.
2003 Start of development of SEPA with market actors, Establishment
of the European Payments Council.
2009 Establishment of the Card Stakeholders Group
The Making of Europe by Payment Cards.
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SEPA FOR CARDS
The Making of Europe by Payment Cards.
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ANALYSIS SEPA FOR CARDS (1)ACTORS
Actor Collaboration of Representation Vision
Eurosystem National Central Banks
and European Central
Bank.
Member States who have
implemented the Euro.
Abolish monetary boundaries
which obstruct competition
and free trade associated
with cross-border payments.
European Payments Council 74 Banks, Banking
Communities and Payment
institutions.
Elitist from the banks. Harmonized, interoperable
and free standards, which are
openly available to all parties
within the card payment value
chain.
Cards Stakeholder Group The Banking, Retail,
Vendor, Processor and
Schemes sector.
Five representatives of each sector. Create the SEPA for Cards
framework. They share the
vision of the European
Payments Council but aimed
at the Cards sector. expert
committee of the EPC
Service Provider Tensions
European Card Framework
Multilateral Interchange Fees
Timeframe Tensions
Implementation tensions
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ANALYSIS SEPA FOR CARDS (2)TENSIONS
EMV – standard
Exclusion of US
Battle of US vs. Europe
Contactless vs. Cashless
Governance
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ANALYSIS SEPA FOR CARDS (3)GLOBALISATION AND THE US
Battle of market vs. regulators:
Clash of European visions
Tensions
Global integration of Europe
Technology as integrative force:
Infrastructure connects
Tensions due to technology make Europe
Unification of different actors
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CONCLUSION