ATM Direct Charging Reform: the Effect of Independent Deployers on Welfare

In Australia, on the 3rd of March 2009, the interchange fees on shared ATM transactions were removed and replaced by fees directly set and received by the ATM owners. We develop a model to study how the entry of independent ATM deployers (IADs) affects welfare under this direct charging scheme. Paradoxically, we show that the IAD entry benefits banks. It may be good for consumers if they sufficiently value the associated growth of the ATM network.ATMs; Direct Charging Reform; Independent Deployers

Paying for ATM usage : good for consumers, bad for banks ?

We compare the effects of the three most common ATM pricing regimes on consumers’ welfare and banks’ profits. We consider cases where the ATM usage is free, where customers pay a foreign fee to their bank and where they pay a foreign fee and a surcharge. Paradoxically, when banks set an additional fee profits are decreased. Besides, consumers’ welfare is higher when ATM usage is not free. Surcharges enhance ATM deployment so that consumers prefer paying surcharges when reaching cash is costly. Our results also shed light on the Australian reform that consists in removing the interchange fee.Banks ; ATMs ; Interchange Fees ; Welfare

ATM Direct Charging Reform: the Effect of Independent Deployers on welfare

Recently in Australia, the interchange fees on shared ATM transactions were removed and replaced by a fee directly set and received by the ATM owner ("direct charging scheme"). We develop a model to study how the entry of independent ATM deployers (IADS) affects welfare under the direct charging scheme. Paradoxically, we show that the entry of IADS benefits banks ! It is also good for consumers if they sufficiently value the ATMs deployed by the independent deployers.direct charging reform

ATM withdrawal pricing, a survey of the literature

We summarize the literature dealing with the pricing of ATM withdrawals. We highlight the effects of the pricing scheme on the network size, on banks’ profits and on consumer surplus. We also examine two recent reforms that took place in Australia and in the United Kingdom in order to increase the efficiency of ATM networks.distributeurs automatiques bancaire; commission interbancaire; tarification; régulation

ATM Direct Charging Reform: the Effect of Independent Deployers on Welfare

In Australia, on the 3rd of March 2009, the interchange fees on shared ATM transactions were removed and replaced by fees directly set and received by the ATM owners. We develop a model to study how the entry of independent ATM deployers (IADs) aspects welfare under this direct charging scheme. Paradoxically, we show that the\ud IAD entry benefits banks. It may be good for consumers if they sufficiently value the associated growth of the ATM network

The role of interchange fees in ATM networks

We develop a model to study the deployment of shared automated teller machines (ATMs) by banks when an interchange system compensates them for processing foreign withdrawals. The interchange fee is chosen collectively by banks and it is paid by the withdrawer's bank to the ATM-owning bank. We show that a high level of interchange fee softens competition on the market for deposits but increases competition on the market for withdrawals. As the former effect dominates the latter, profits are increasing in the interchange fee. This confirms the presumption that the interchange system can be used as a collusive device by banks. The model predicts an over-provision of ATMs when the number of banks is large. The predictions of the model are shown to be valid under a wide range of assumptions including different cost structures and different pricing schemes of ATM transactions. They are also consistent with the empirical evidence concerning interchange fees and foreign fees.ATMs, Interchange Fees, Networks, Banks , Banking Competition

Haptic Noise Cancellation: Restoring Force Perception in Robotically-Assisted Beating Heart Surgery

Beating heart surgical methods have the potential to remove the need for the heart-lung machine and its attendant side effects, but must contend with the motion of the heart. Recent research in robotically-assisted surgery has produced a handheld, actuated in- strument that can track and compensate for heart motion; however, the reaction forces caused by the actuation mechanism make it dif- ficult for the surgeon to feel the heart during the operation, which can lead to unsafe tissue manipulation. This paper investigates an instrument design that negates reaction forces to the user by moving a counterweight out of phase with the moving mass of the actuator. The resulting instrument retains the tracking and motion compensa- tion abilities of the current instrument, but reduces reaction forces felt by the user by over 80%. Subjects used the new instrument in an in vitro beating heart surgical contact task and performance was compared to the previously existing instrument. The new in- strument provided a 28% increase in user force sensitivity and im- proved user reaction times by 51%, indicating that the new instru- ment greatly enhances force perception in beating heart tasks.Engineering and Applied Science