Banks’ Costs and Income in the Payment System in 2001

Abstract

According to national accounts data, the financial sector showed a strong increase in productivity in the 1990s. This article explains that this was largely due to changes in the payment system. A larger number of payment transactions are now produced at lower cost than previously, while direct pricing of payment services enables customers to select services that meet their needs at the lowest possible cost. Both factors have had a positive impact on the efficiency of the payment system.