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New Directions Lecture: Akos Rona-Tas, "Farewell to Globalization: Varieties of National Control over Payment Card Markets in Post-Communist Countries and the Rest of Europe"

Event Type
REEEC; Center for Global Studies; European Union Center; Department of Sociology
101 International Studies Building (910 S. Fifth St., Champaign, IL 61820)
Oct 5, 2017   4:00 pm  
Akos Rona-Tas (Professor and Chair of the Department of Sociology, University of California at San Diego)
Free and open to the public.
Originating Calendar
Russian, E. European & Eurasian Center: Speakers

Against the expectation that in a global world a few multinational credit and debit cards will dominate, payment card markets show surprising national variation. In countries like Hungary or the Czech Republic, banks issue no domestic credit or debit cards. In China, Denmark and Belarus, domestic cards dominate (UnionPay, Dankort and Belcart, respectively). In Russia, there is a mix of domestic and international cards, but the government wants to marginalize Visa and MasterCard in favor of a new national card. The Single Euro Payment Area is working on its own payment card scheme. As states recognize that electronic payment is a source of information on the economy and citizens, they are less and less willing to hand control to US-based multinationals over money and people.

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