1、 外文翻译 原文 Pricing of card payment services in Scandinavian banking Material Source:http:/ Author:Magnus Willeson Abstract Pricing of card payment services includes many considerations of cost and revenue in an environment of changing payment technology, network effects in two-sided markets and price
2、bundling. This paper describes the consumer pricing methods for card payment services by Scandinavian banks and evaluates their explicit pricing methods. The main findings suggest that Scandinavian banks in general are more interested in earning revenue from implicit prices than in encouraging the u
3、se of more cost efficient technology by charging explicit transaction fees. However, the pricing methods applied may vary, depending on the country and a banks service supply. Keywords: payment pricing; debit card; credit card; banking; Scandinavia Introduction This paper provides an overview of whi
4、ch pricing methods Scandinavian commercial banks apply on card payment services to consumer customers. In addition, it distinguishes likely reasons for why the Scandinavian banks set prices differently depending on the environment in which they operate. There are two empirical research questions: .Q
5、uestion 1: What pricing methods do Scandinavian banks apply on card payment services to consumer customers? .Question 2: How can the varying environments in which Scandinavian banks operate explain the variations in pricing methods applied? Pricing methods applied by Scandinavian banks for card paym
6、ents The following sections provide an overview of how Scandinavian banks price the card payment services they offer consumers. The survey focuses on the banks explicit prices, as implicit prices are less transparent and hard to identify and distinguish in practice. It has been operationalised throu
7、gh a collection of pricing data from the card payment services at Scandinavian banks.6 Scandinavian banks are representatives for banks where a large share of electronic technologies in payment methods are implemented and therefore have a relatively long tradition of electronic payment pricing. Scan
8、dinavian banks and their card payment services A Scandinavian bank may be a commercial bank, a savings bank or a cooperative bank. All are involved in the payment systems described in this paper. From a shareholder perspective, commercial banks are the only one of interest to analyse.7This means tha
9、t the pricing objective of savings banks and cooperative banks will be biased because their main goals are usually different from maximising shareholder value or profits. Scandinavian banks pricing of card payments to consumers The most commonly used card payment service in Scandinavian banking, the
10、 debit card, was priced mainly by an annual fee that was independent of the use of the card. This fee is categorised as a fixed fee(FIXED).In Table 3,we see that 33 banks priced debit cards in this way and an additional 14 banks charged a fixed fee together with a transaction-based fee adopting a tw
11、o-part(TWOPART)pricing strategy. No bank charged only a transaction fee(TRANSACTION).Only two banks applied implicit pricing methods(IMPLICIT).In the cases where the banks float prices were described in the price lists, it was usually due for one day on the consumer side. Concerning implicit interes
12、ts, most banks offered an interest rate on deposit accounts that was lower than the market interest rate. In addition, implicit interest rates were sometimes presented as a relative margin to the market interest rate. It could, for instance, be expressed as margins set in steps depending on the cons
13、umers balance on the deposit account. Table3: consumer pricing methods of card payments and cash withdrawals applied by Scandinavian banks. Pricing method DEBIT Percent CREDIT Percent OTC Percent ATM Percent TRANSACTION 0 0.00 0 0.00 7 12.28 0 0.00 FIXED 33 57.89 34 59.65 0 0.00 31 54.39 TWOPART 14
14、24.56 2 3.51 0 0.00 16 28.07 IMPLICIT 2 3.51 7 12.28 35 61.40 2 3.51 DISCOUNT 0 0.00 1 1.75 0 0.00 0 0.00 No product 8 14.04 13 22.81 10 17.54 8 14.04 No data available - - - - 5 8.77 - - Total 57 100 57 100 57 100 57 100 It can also be concluded that the banks in various countries applied different
15、 pricing methods. Swedish and Finnish banks did not apply any kind of transaction-based fees on their debit cards. Instead they charged fixed (annual) fees. A majority of the Danish banks also charged annual fees, but in addition some banks applied a two-part pricing and some priced only implicitly.
16、 In contrast, there was a large percent of Icelandic and Norwegian banks that charged transaction fees in two-part tariffs (100%and 75%, respectively). A comparison of pricing methods for debit cards and credit cards shows that the banks pricing of credit cards relied less on transaction fees and mo
17、re on implicit prices than the banks pricing of debit cards. This may indicate that banks had higher interest in implicit pricing from their credit card services. The absolute number of banks that charged fixed fees on their credit card corresponds to the number of debit cards priced in this way (Ta
18、ble 3).However, a higher proportion of the banks that provided credit card services charged a fixed fee compared with the banks that provided debit cards. Only two banks, both from Norway, considered pricing credit cards by a two-part tariff. A version of a transaction-based fee is to give discounts
19、 based on the card purchases. This was offered by one Danish bank. The described tendency towards using non-transaction-based pricing methods on credit cards is reinforced by the fact that banks also, to a larger extent, charged implicit prices towards consumers. The data show that Danish, Finnish a
20、nd Icelandic banks constantly charged fixed fees on credit cards, whereas Norwegian and Swedish banks generally relied less on explicit prices. Scandinavian banks pricing of cash withdrawals Cash can be withdrawn manually from a deposit account over the counter (OTC), at a branch office or at an ATM
21、 that may either belong to the bank of the consumer or to another bank.10 Both debit cards and credit cards can provide the service of cash withdrawals at ATMs, but debit cards are the main alternative of the card payments in the Scandinavian market. Table 3 shows, in addition to payment card pricin
22、g, the Scandinavian banks pricing of cash withdrawals. OTC withdrawals at branch offices were priced either implicitly through the deposit account (61%) or (spread out over the countries) by transaction fees (12%). This can be compared with withdrawals at ATMs, where 28%of the banks charged transact
23、ion fees. In addition, banks charged either implicit prices (3.5%) or fixed fees associated with the debit card (54%) for their pricing of ATMs. These findings are notable from the standpoint that ATM withdrawals should be encouraged by banks as opposed to withdrawals at branch offices. From this st
24、andpoint, banks encouraged OTC withdrawals (even though ATM withdrawals cannot be considered discouraged). A majority of the 33(31+2) banks that did not charge transaction fees for ATMs in any way were situated in Sweden, Finland and Iceland. A pricing strategy for not using transaction fees existed
25、 also in Denmark and Norway, but banks in these two countries also relied on transaction fees on ATM withdrawals. In terms of pricing strategy, the banks that are described as using a fixed fee may be divided into three categories: First, 10 banks charged transaction fees when their customers use ot
26、her banks ATMs. Second, four banks did not charge any transaction fees, but had not invested in any ATMs of their own. Third, 17 banks did not charge any transaction fees on customers withdrawals either at their own ATMs or at other banks ATMs. The activity for the banks ATM pricing can also be exte
27、nded to the use of price incentives for using the ATMs more efficiently. In fact, more than half(12)of the price discriminating banks did not charge a transaction fee on withdrawals at their own ATMs, but on withdrawals at other banks ATMs, which implies that Table 3 is not entirely complete. Ten of
28、 these banks are identified above and an additional two banks did not charge any fixed fee together with the transaction fee. A majority (10) of the 16 banks that charged transaction fees also differentiated between withdrawals at their own banks ATMs and other banks ATMs, but by discriminated price
29、 levels so that withdrawals at other banks ATMs were priced higher. The other six banks that charged transaction fees did not differentiate among the ATM alternatives. In summary, this entails that 45% (22out of 49)of the banks that provided a debit card also discriminated the prices for ATM withdra
30、wals according to how the consumers use the ATMs and that a total of 57%(28)banks charged any type of transaction fees on ATM withdrawals. The banks did also price discriminate depending on the time of the day the transactions were being made, or rather depending on opening hours of the branch offic
31、es. The presence of prices that varied over time consisted of nine Norwegian and Danish banks that charged transaction fees on withdrawals at their own ATMs, but not during office hours. Conclusion This study contributes to the discussion on pricing of payment services by providing an overview of wh
32、ich pricing methods banks apply when pricing their card payment services to consumers. The data collection was based on four categories of pricing methods applied by the Scandinavian banks in 2005.These categories depend on the visualisation of prices to consumers and if the pricing method is direct
33、ly or indirectly related to the use of the payment service. The most interesting findings from the empirical analyses are as follows: The banks preferred charging fixed fees for their pricing of card payments. In addition, a relatively large share of the banks applied two-part pricing, i.e. a combin
34、ation of a fixed fee and a transaction fee. A pure transaction fee was not charged by any bank. Implicit pricing methods were mainly applied for credit cards. OTC Cash withdrawals at branch offices were usually free of charge. Banks put more emphasis on the pricing of ATMs, which included fees on tr
35、ansactions. In addition, many banks applied price discrimination in order to encourage more efficient use of, the ATMs. For instance, ATM withdrawals made at their own banks, and at other banks ATMs were distinguished. One indication of differences among prices was due to country-specific circum-sta
36、nces. Internationally operating banks usually adopted a pricing strategy that was dominating in each foreign market. The willingness of a bank to encourage use of the most efficient pricing method may be based on its application of transaction fees. Only few banks included transaction fees in their
37、pricing method for card payments. However, the pricing methods banks adopted imply that they encouraged OTC withdrawals at branches instead of at ATMs. Full-service banks charged transaction fees more frequently than niche banks did. This implies that full-service banks were more interested in encou
38、raging cost efficiency on payment services. In fact, all banks that charged transaction fees on ATM withdrawals are full-service banks. Both credit cards and debit cards show the same patterns, but not to the same extent. Another finding is that full-service banks provided debit cards whereas niche
39、banks provided credit cards. 译文 斯堪的纳维亚地区银行的银行卡服务收费定价 资料来源 : http:/ 作者：马格努斯 .威尔森 摘要 银行卡服务收费定价在付款技术，双边市场网络效应和价格捆绑都不断变化的环境下，需要对成本和收入做很多的考虑。本文介绍了斯堪的纳维亚地区银行的银行卡服务收费定价方法，并对其所采用的方法加以评价。主要调查结果表明该地区的银行一般对赚取隐式价格收入更感兴趣，对需要投入更多成本和高效技术的服务收取明确的交易费。然而，定价方法的应用可能会有所不同，这取决于各个银 行服务供应的多少。 关键字 ： 支付定价 ； 借记卡 ； 信用 ； ATM； 银
40、行 ； 斯堪的纳维亚 导言 本文概述了斯堪的纳维亚商业银行对消费者的银行卡服务收费定价方法，此外，它价格设置方法和其所处的经营环境密切相关。有两个实证研究问题： 问题一、斯堪的纳维亚地区银行对于消费者的服务定价方法是什么？ 问题二、如何使不同经营环境中的各斯堪的纳维亚地区银行确定最适用的定价方法？ 斯堪的纳维亚地区银行的银行卡服务定价方法 以下各节对斯堪的纳维亚地区银行给予消费者的银行卡收费服务如何定价作简要回顾。调查的重点是银行的明确价 格，隐含价格 的透明度较低，在实际中很难以识别和区分。调查建立在 斯堪的纳维亚地区银行的银行卡支付服务的定价数据集的基础上来实施。斯堪的纳维亚地区银行在将电
41、子技术运用于付款方式方面占了很大的份额，是这一方式的代表，因此，那里的银行对电子支付定价有相对较长的传统。 斯堪的纳维亚地区银行的银行卡付款服务 斯堪的纳维亚地区的银行包括 商业银行、储蓄银行或合作的银行，所有都参与了本文中介绍的支付系统。从股东的角度看， 针对 商业银行 的分析是最为感兴趣的 。这意 味着 与储蓄银行和合作银行的定价目标有点偏离，因为储蓄银行和合作银行 的主要目标通常 与商业银行的以股东价值或利润最大化不同。 斯堪的纳维亚地区银行对消费者的银行卡服务定价 最常用的斯堪的纳维亚银行卡为借记卡，其支付服务的定价主要为年费，这是与该卡的使用无关的费用。此费用归类为 “ 固定费用 ”
42、（固定）。（见 表 3） ，33 个银行的借记卡以此种这种方式定价，另外 14 家银行采取由固定费用和交易费用相结合的 （两部分）定价策略。没有银行只收取交易费（交易）。只有两个银行执行隐式的定价方法（隐式）。若该银行描述了其 浮动价格报价单的情况 ，它通常是处于消费者方面的原因。关于隐性的利益，多数银行在储蓄帐户上提供一个 比市场利 率较低的利率。此外，隐利率有时表现为相对边缘的市场利率。例如，表示为针对消费者存款帐户余额取决于一系列步骤的利润。 表 3 斯堪的纳维亚地区 57 家银行对消费者的银行卡 支付 和提取现金的定价标准 定价方式 借记卡 占比 信用卡 占比 柜台交易 占比 ATM
43、占比 交易 0 0.00 0 0.00 7 12.28 0 0.00 固定 33 57.89 34 59.65 0 0.00 31 54.39 两部分 14 24.56 2 3.51 0 0.00 16 28.07 隐式 2 3.51 7 12.28 35 61.40 2 3.51 优惠 0 0.00 1 1.75 0 0.00 0 0.00 没有产品 8 14.04 13 22.81 10 17.54 8 14.04 无数据可用 - - - - 5 8.77 - - 总计 57 100 57 100 57 100 57 100 可以得出结论是， 不同国家的银行采用不同的定价方法。瑞典和芬兰的
44、银行对他们的借记卡种类没有设置任何 以 交易为基础的收费， 而是每年收取固定年费。丹麦的大多数银行计收年费，也有一些银行结合两部分费用定价，一些银行采用隐 式定价。与此都不同的是冰岛和挪威的很大比重的银行对交易费计收 两部分费（分别是 100%和 75%） 。 借记卡和信用卡的定价方法 的比较中显示，银行的信用卡比借记卡在定价上更侧重于交易费而非 隐式收费。这可能表明银行了高额利息中隐式的定价，从他们的信用卡服务。 绝大多数的银行对信用卡收取固定费用的情况与相应借记卡的情况对应（见表 3）。然而，提供信用卡服务收取固定费用的银行的占比比提供借记卡的高。只有挪威的两家银行，认为信用卡定价由两部分
45、收费标准组成。交易费 可通过 刷卡消费予以折扣优惠。这是丹麦的一个银行所提供的。所描述的以信用卡非交易为基础的定价方法是不断增强的趋势，银行在较大程度上，对消费者收取隐式的价格费用。数据显示，只有丹麦，芬兰和冰岛 的银行对信用卡收取固定费用，而挪威和瑞典的银行一般很少采用 显式的价格。 斯堪的纳维亚地区银行提取现金定价 现金可以通过柜台交易提取，银行网点里的 ATM 有 可能属于另一家银行所有。借记卡和信用卡都可通过 ATM 机来提取现金， 在斯堪的纳维亚地区借记卡是卡支付的主要选择。 表 3除了显示 银行卡定价外，还显示了斯堪的纳维亚地区银行提取现金的资 费标准。分、支行柜台取现通过储蓄账户
46、隐式收费（ 61%的银行）或者通过收取交易费（ 12%的银行）。 ATM 机上取款也类似，有 28%的银行需收取交易费。此外，也有收取隐式价格（ 3.5%的银行）或者收取与借记卡相关联的卡本身 固定费用（ 54%的银行）作为 ATM取款定价。这些发现印证了一个观点银行相对于客户在分支机构取款应该更多鼓励使用 ATM 取款。从这个观点来看，银行事实上更 鼓励柜台交易取款方式（尽管在 ATM机取款不能视为不提倡） 位于瑞士、芬兰和冰岛的 33家银行（ 33+2家）中的绝大多数并不对 ATM收取任何方式的交易 费。丹麦和挪威也存在不收取交易费的定价策略，但这两个国家对 ATM 取现仍要收取相应交易手
47、续费。在定价策略上，被描述为使用固定费用的银行可进一步分为三类：第一， 10 家银行对他们的客户发生跨行ATM 机取款收取交易费。第二， 4 家对 ATM 取款不收取任何费用，但这几家银行同时未对他们的 ATM 机进行任何投资。第三， 17 家银行对客户无论是跨行取款或者是同行取款都不收取费用。 价格激励机制也可扩展到银行 ATM机定价行为中，进而提高 ATM机的有效使用率。事实上，超过半数的银行对本行 ATM 机取款不收取交易费，但对跨行取款收取交易 费，这意味着，表 3还没有完全反映 收费现状。 10家前文已讨论过的银行和除此之外还有 两家银行不收取任何固定费用或交易费用。 16家银行中的
48、绝大部分（ 10 家银行）对 ATM 跨行取款和同行取款采取不同的收费标准，通过设定不同的定价以便对在他行 ATM机上取款的情形收取更高资费。其他 6家银行则不对跨行或 本行采取差别定价。总之， 45%的银行（ 49家中有22家）发行借记卡并对 ATM机取款依据消费者具体的取款方式采取差别定价，57%的银行（ 28家银行）对任何类型的 ATM机取款收取交易费。 银行还对每天做出的不同时间段的交易内容进 行差别定价，或者取决于各分支机构的营业时间 。随时间变化而差别定价的银行包括 挪威和丹麦的 9家银行，对在非营业时段里发生的同行 ATM机取款收取交易费。 结论： 这项研究通过对银行应用于消费者
49、的银行卡服务收费定价方法的概述，有助于进一步探讨银行的服务收费定价。数据是基于 2005年斯堪的纳维亚地区的银行 所采用的四种类别的定价方法所收集的。这些分类以 消费者的各可视化价格 为依据 ，并且定价 方法直接或间接 得 与收费服务的使用有关。从实证分析中得到的最有趣的结论如下： 银行对银行卡的定价中首先倾向于收取固定费用。此外，相当比重 的银行采取两部分定价的方法，即为固定费用和交易手续费相结合的方法。没有一家银行是只收取纯粹的交易费。隐式的定价方法主要被用于信用卡 收费中 。 在银行各分支机构通过柜台提取现金往往是免费的。银行更侧重对使用ATM机取款的收费，其中包括交易手续费及。此外，许多银行通过差别定价的方法来鼓励更有效地使用 ATM 机。例如，在本行取款和在他行取款的手续费是不相同的。 定价以 各国家的具体情况不同而存在差别。国际性银行往往采用一种在国际市场上占主导地位的定价方法。 一家银行鼓励采用何种最有效的 定价方法 的 意愿是基于其交易手续费的 应用。只有少数银行将交易费列入其信用卡的服务收费定价中。然而，银行所采用的定价方法暗示了
