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

The Making of Europe by Payment Cards.

Hidden integration in the era of Neoliberalism

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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.

Hidden integration in the era of Neoliberalism

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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

The Making of Europe by Payment Cards.

Hidden integration in the era of Neoliberalism

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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.

Hidden integration in the era of Neoliberalism

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SEPA FOR CARDS

The Making of Europe by Payment Cards.

Hidden integration in the era of Neoliberalism

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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

The Making of Europe by Payment Cards.

Hidden integration in the era of Neoliberalism

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ANALYSIS SEPA FOR CARDS (2)TENSIONS

EMV – standard

Exclusion of US

Battle of US vs. Europe

Contactless vs. Cashless

Governance

The Making of Europe by Payment Cards.

Hidden integration in the era of Neoliberalism

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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

The Making of Europe by Payment Cards.

Hidden integration in the era of Neoliberalism

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CONCLUSION

The Making of Europe by Payment Cards.

Hidden integration in the era of Neoliberalism

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QUESTIONS?

The Making of Europe by Payment Cards.

Hidden integration in the era of Neoliberalism

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BORREL 15:30ZILVERLING MBASEMENT