by Olaf Gresvik and Harald Haare

The analysis covers social costs associated with payment cards, giros and cash. The bulk of retail payments in Norway are settled by means of these instruments. The social costs of using and producing these payment services are estimated to be NOK 10.97 billion in 2007, equivalent to 0.48 % of GDP1. The costs estimated cover activities by banks, subcontractors, the central bank, households and merchants (point of sale).