A Study on The Collaboration among Competitors of Credit Card Payment Systems
The payment system is an essential part of the financial infrastructure in today's market economy. Millions of transactions take place each day. Goods and services are purchased and paid with either currency or through a payment system. Due to the emerging development of information technology and the widespread acceptance of credit card transactions, credit cards are now a significant feature of the retail payments instrument in Chinese Taipei, after growing strongly in usage over recent years. At the same time, the payment system comes with its own problems. Some are universal issues arouse from the credit card system, and some are unique problems in Chinese Taipei due to the special arrangement of credit card framework in Chinese Taipei. Therefore, this study will discuss about the legal issues and policies that are necessary to properly regulating, overseeing, and guiding the development and the use of credit card payment system and to bring these payment system problems under control.
In this research, a comprehensive introduction to the mechanisms and background of credit card payment system will be first provided in chapters 1 and 2. The following chapters cover several different issues related to the credit card payment system, including the legal framework and parties involved in the transaction process, clearing and settlement arrangement as well as the related legal and policy-making issues of the credit card payment system in Chinese Taipei.
The collaboration among the member banks of NCCC arranged by NCCC is the core concern addressed in this dissertation. These issues, discussed in the following section, govern the setting model and standard of interchange fees, restrictions on merchant pricing, clearing and settlement arrangement, joint action of operations of the payment process, and the acquiring business related problems. To promote the public interests, competition, and efficiency are the main principal goal of this study.
The conclusions explored in this research are some suggestions to a well-developed regulatory framework and payment policies for the payment systems, which will reduce uncertainty and risks as well as promote safe and efficient payment systems. The key solutions to develop the policies and regulatory framework facilitating the payment systems will be the focus in the final chapter. Via conducting a legal analysis on these specific provisions, tentative suggestions will be derived as references for the competition policy competent authority.