Introduction Real-time payments (RTP) are an increasingly popular means by which individuals can send credits from one account to another. Many banks have established internal RTP systems and, in some…

Executive Summary In 2020, the Legislative Assembly of Costa Rica passed Legislative Decree 9831, which granted the Central Bank of Costa Rica (BCCR) authority to regulate payment-card fees. BCCR subsequently…

A review of the literature demonstrates that interchange-fee caps do more harm than good, especially for lower-income consumers.

This paper considers the evidence for and against the reverse Robin Hood hypothesis, finding that the reverse Robin Hood may be more mythical than the original Robin Hood.